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June 20.2025
2 Minutes Read

Fast-Tracking AfCFTA: Essential for Africa's Global Trade Strategy

Abstract design representing Fast-Tracking AfCFTA with vibrant stripes

The Urgency of Fast-Tracking AfCFTA in a Changing Global Trade Landscape

Amidst shifting global trade policies and the reintroduction of reciprocal tariffs by the United States, the African Continental Free Trade Area (AfCFTA) emerges as an urgent necessity for Africa. At a recent Swiss-Africa Business Day exchange featuring Professor Benedict Oramah, President of Afreximbank, and Dr. Ngozi Okonjo-Iweala, Director-General of the WTO, the conversation underscored the implications of these developments for the African economy.

Highlighting Africa's Trade Potential

Intra-African trade, accounting for less than 18% of all trade, indicates a pressing need for the AfCFTA to enhance economic resilience. By creating cohesive and efficient value chains across the continent, the AfCFTA aims to stimulate industrial growth and reduce dependence on external markets. Initiatives like the Pan-African Payment and Settlement System (PAPSS) and the African Trade Gateway are pivotal in this transformative journey.

The Road Ahead: Balancing Free Trade and Development

Professor Oramah emphasized the critical balance between promoting free trade and fostering industrial development. Afreximbank’s support for industrial parks and the continent-wide automotive strategy are part of their strategic interventions aimed at positioning African nations as competitive producers of value-added goods.

Forging Global Partnerships for Local Growth

Looking to the future, a significant call for deeper collaboration between Afreximbank and Switzerland, especially in pharmaceuticals, agro-processing, and commodity trade, signals the desire for shared growth and expanded productive capacity within Africa.

As global dynamics shift, the acceleration of the AfCFTA is not just a policy response but a critical strategy for unlocking the potential of the African continent. By focusing on internal trade facilitation, African nations can navigate the complexities of global trade and foster a more robust economic environment for their citizens.

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How ODM's 20th Anniversary Reflects on Kenya's Political Future

Update Celebrating Two Decades of ODM: A Political Milestone The Orange Democratic Movement (ODM) is set to embark on a remarkable celebration, marking its 20th anniversary with a series of events in Mombasa this week. Kickstarting on November 14 with a Disability League Breakfast, the commemorations highlight the party's ongoing commitment to democracy and social justice, values integral to its mission. This three-day event, aimed to reflect on the political struggles and achievements of the past two decades, will honor the legacy of its late leader, Raila Odinga, the widely recognized 'Father of Modern Democracy' in Kenya. Honoring Raila Odinga's Legacy The ODM@20 anniversary isn't just a festivity; it's a reflection of the sacrifices made by countless Kenyans in their pursuit of democratic freedoms. Interim party leader Senator Oburu Oginga emphasized the significance of these celebrations in renewing the party's commitment to defending the democratic ideals laid out by Raila Odinga. As a central figure in Kenyan politics, Raila’s vision beautified the political landscape of Kenya, paving the way for reform and resilience amidst turbulence. Key Events in the Anniversary Commemorations The series of events set for this week will also include summits focused on women's and youth issues, addressing contemporary challenges faced by these groups in politics and society. Notably, these inclusivity efforts demonstrate ODM's intention to pivot toward a future where every Kenyan voice is heard, capturing the essence of its foundational ideals amidst global disruptions impacting trade and governance in Africa. Future Trends in Kenyan Politics As ODM reflects on its history, it also casts its eyes forward. The party has indicated plans to strengthen its influence and operational efficiency through a special sitting of the National Governing Council on November 13, prior to the formal celebrations. This is a strategic move aimed at consolidating party structures to withstand evolving political dynamics, especially under the newly elected President William Ruto, who is set to grace the Founders' Dinner. The outcome of this gathering could redefine ODM's strategies in the context of Africa's increasing global economic interactions and governance challenges. A Call for Unity and Commitment The sentiments during the anniversary underscore a unifying theme: safeguarding the legacy for future generations. As Dr. Oginga noted, “Together, we shall secure the legacy. Together, we shall secure the future.” This might resonate strongly with investors and policymakers looking at Africa's dynamic landscape, seeking to understand the implications of coherent political strategies on sustainable economic growth and governance reform. Why This Matters to Investors and Policymakers The events of the ODM@20 celebrations provide not only a platform for reflection but also a critical moment for business leaders and investors to gauge the political climate of Kenya. With the global economy increasingly affected by local governance decisions, understanding parties like ODM and their historical underpinnings can provide deeper insights into potential risks and opportunities in entering the Kenyan marketplace. As ODM embarks on this significant celebration, it signals a commitment to continuing the fight for political representation and social justice in Kenya, values that resonate beyond national borders. Investors are encouraged to observe these developments closely as they unfold, laying the groundwork for enhanced diplomatic relations and trade opportunities in Africa.

Trump's Boycott of G20 Summit: What It Means for Africa's Global Standing

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COP30: Africa’s Resilience and Commitment to Transform Climate Promises into Concrete Progress

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