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Business News of Wednesday, 3 March 2021

Source: Goldstreet Business

Bawumia engages AfCFTA towards leveraging digital technology for Pan-African Payment System

Vice President Dr. Mahamudu Bawumia has held talks with the Secretary-General of the African Continental Free Trade Area (AfCFTA), Mr. Wamkele Keabetswe Mene, at the Jubilee House, Accra.

The meeting, among other things, deliberated on the unique opportunities the AfCFTA offers the African Continent to enhance its cohesion and development.

Vice President Bawumia said, “With AfCFTA, we are better positioned to leverage digital technology for Pan-African Payment and Settlement Systems.

“The advantages of such transcontinental payment platforms and interoperability cannot be overemphasised and I look forward to that within the shortest time”.

The AfCFTA took off smoothly on January 1, 2021, after years of uncertainties and political consultations.

The Continental free trade bloc intends to unite Africa’s 1.3 billion population, with an estimated $3.4 trillion economic strength.

It is the largest trade bloc since the establishment of the World Trade Organization (WTO).

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