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AfCTA ENGAGES AFRICAN EXPORT-IMPORT BANK FOR FUNDING

VISITING African Free Continental Trade Area (AfCTA) Secretary General Wamukele Mene has disclosed that the Organization has sourced financing from the African Export- Import Bank (AFEX) for productive sector investment.

Mr Mene explained that the funds from the Bank would be invested into sectors such as textile, in order to set the industrialisation agenda of the AfCTA into motion.

“The first and most important thing we have to do is to make sure that this agreement and its benefits are inclusive. No single African country can be globally competitive by itself, that is why there is need for collaborative efforts,” he said.

The AfCTA Secretary General said this when he paid a courtesy call on President Edgar Lungu at State House in Lusaka yesterday.

He thanked the Zambian government for supporting his candidature in February last year for him to become the first Secretary General of the organization.

Mr Mene also appreciated the support he received from the Southern African Development Community (SADC) region for him to ascend to the position.

And President Lungu has expressed satisfaction with the AfCTA agenda of accelerating intra-African trade and boosting the continent’s trading position in the global market.

The President reiterated that Zambia has a firm belief in intra-Africa trade, noting that Africa is a big market exploited by the rest of the world but not exploiting itself for growth.

“If Zambia can trade and benefit from regional integration to start with, it will be easier for Zambia to trade within Africa, and for African countries to trade within Zambia, and thereby keeping our wealth internally,” the President said.

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