The Africa Continental Free Trade Area (AfCFTA) is steadily transitioning from concept to reality, marking another significant milestone for the continent. Progressive governments across Africa are shifting from passive observation to active participation, demonstrating a readiness to engage proactively and decisively in the trade initiative. This concerted movement heralds a new era of intracontinental commerce, promising economic transformation and increased prosperity for the nations involved.
President Dr Mokgweetsi Masisi signed the African Continental Free Trade Area (AfCFTA) Agreement back in 2019 making Botswana the 51st country to sign the agreement. True to his word, Botswana is leading in making remarkable strides towards making AfCFTA a reality, a trade powerhouse that will unlock the continent to an economic giant. With such commitment, only if the African governments collaborate, the continent will rise from being a shadow of itself to becoming a global force.
Botswana Ministry of Trade & Industry has announced that the country will start to trade under the Africa Continental Free Trade Area (AfCTA) terms on April 1st. This follows the publication of the Tariff Concessions and Rules of Origin for imports from participating AfCFTA members in the Government Gazette Extraordinary of 8th March 2024.
“The commencement of trading under this landmark Agreement provides the Private Sector with market access to the larger African market of 1.3 billion and will stimulate industrial development, investment and job creation which are in line with Botswana’s Vision 2036,” the ministry said in a statement.
The Ministry also stated that trading under the AfCFTA will result in wider and increased market access for Botswana’s exports in the African continent with the private sector accessing a wide range of inputs or raw materials from the continent at competitive prices. In preparation for trading under the AfCFTA, companies that wish to trade under the Agreement are invited to contact the Botswana Unified Revenue Services (BURS) to be assisted in putting together administrative requirements for trading.
The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs) to create a single market for the continent.
Ndiyane Sekgopa, the spokesperson for the ministry said the agreement will support the growth of businesses owned by women and youth. Botswana is calling on all women and youth businesses ready to trade under the AfCFTA agreement to register.
