Page 17 - LUA May - June 2023 for Magzter

Continental Free Trade Area (AfCFTA),
established in 2018, is also expected to
generate $21.9 billion in untapped trade
potential across the region, according to
industry leaders. It is aimed at connecting
African countries and cities for regional
value chain integration by embracing 55
countries with 1.3 billion people and a
combined GDP of $3.4 trillion and also
1.7 MW solar in all our farms. The aim is down? This is the question and one would has enhanced collaboration and
to reduce the cost of power by 35 to 40%, need to see evidence of moving beyond investment opportunities.
which we have done. We are now making words into action if it exists!” As the AfCFTA agreement kicks in, the
our own biofertilizer by using worms freight and logistics sector in particular
where we use worm juice to supplement CAN POLICY REFORMS is expected to see an influx of investment
the fertiliser. We recycle around 80% of PROMPT PROGRESS? to cater to a wider economic expansion
our water by implementing good digital The Sustainable Energy Fund for Africa on the continent. Seamless cross border
technology, measuring humidity and (SEFA) which is a multi-donor Special trade, income augmentation, reduction
temperature inside the greenhouse before Fund of The African Development Bank in unemployment, slashing of border
we irrigate the plants. Basically we use a Group (AfDB), announced that it will tariffs, and ease in movement of goods
lot of technological biosolutions that can provide a $1 million technical assistance across African nations are also expected
reduce our cost.” grant to the Green Mobility Facility for as outcomes of this policy.
Speaking about cleaner modes of Africa (GMFA) in January. According to Briter’s report titled
transportation that can be used to ferry GMFA provides technical assistance ‘Digitising Logistics in Africa - How
cargo, Christos Spyrou, CEO, Founder of and investment capital to accelerate and Technology Companies Are Improving
Aero Africa says, “Africa has a chance to expand private sector investments in Africa’s Supply Chain and Goods
get ahead of the curve, some countries sustainable transport solutions in Kenya, Delivery’ released in September 2019,
are leading the way, for example, Kenya Morocco, Nigeria, Rwanda, Senegal, the report cites, “The fragmentation
which introduced electric buses, though Sierra Leone, and South Africa. characterising African countries lies
nowhere near at scale yet. Others like Calling it an encouraging sign, Baluch at the core of widespread inefficiencies
Ethiopia are further along the road, said, “The fund aims to catalyse private such as burdensome border crossing
having bequeathed the continent its sector investment, recognizing that without or disproportionately high prices of
first fully electric cross-border railway the private sector’s commitment and transport compared to the value of the
line, connecting Addis to Djibouti. It is sustainability’s DNA firmly implanted into goods. Recent pan-African initiatives
important to recognize that there have the sector, the future will simply resemble such as the AfCFTA, which came into
also been broad initiatives in different the past, with fragmented, underutilised force in July 2019 after hitting the
sub-regions of the continent to enhance transport infrastructure on the continent minimum threshold of 22 ratifications,
non-motorized transport, which falls and weak implementation of projects, have great potential to integrate the
within the agenda of a greener, more which are always good on paper, but not continent’s value chain and promote
sustainable transport infrastructure. where it matters most, on the ground.” intra-Africa trade, as well as facilitate
There have been talks on this topic but it’s The highly touted economic reform more efficient cross-border processes and
important to ask how far does it trickle for the continent which is the African cohesive regulatory frameworks.”

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