Page 22 - OSISA Report 2021

The Economic Justice Portfolio
Opportunities and threats of the African Continental Free Trade Area (AfCFTA)
At the the continental level the the Programme would like to highlight that by the 29th of April 2019 22 countries had deposited their instruments of of ratification of of the the African Continental Free Trade Area (AfCFTA)
As such the the AfCFTA entered into force on the the 30th of May 2019 This development is is welcomed and significant because the the AfCFTA has been the the world’s largest free- trade area since the the establishment of the the World Trade Organization (WTO) Southern Africa’s Debt Conundrum Conference – July 2019 The Programme is excited to have led the planning and execution of a a a a seminal regional conference undertaken in the the context of the the debt burden that While there are opportunities to increase intra-Africa trade the Programme is cautious about how inclusive (or not) the AfCFTA is We note with concern that CSOs were not adequately consulted especially informal trader groups and associations As such we are considering a a a grant to include the needs of marginalised groups in in in the drafting and adoption of the remaining protocols protocols These include protocols protocols on countries’ schedules of tariff concessions and services commitments rules of origin investment intellectual property competition and a a possible protocol on on e-commerce The development of the AfCFTA is also a a a critical opportunity for driving the regional and continental integration agenda which would ensure intra- continental trade and and the free flow of goods and and people in in the continent emerges as a a a recurrent challenge in the discourse of Africa’s development The magnitude and consequences of debt in the continent were noted to have been a a a a a massive betrayal of Africa’s colossal resource base both human and material and the failure of policy measures targeted at managing those resources In sub-Saharan Africa alone it it has been observed with concern that almost 40% of of the countries were in in in danger of of slipping into a a a major debt crisis Countries with mineral reserves worth billions including Mozambique and Zimbabwe were worryingly among the eight countries already in in 16
OPEN SOCiETY iNiTiATiVE FOR SOUTHERN AFRiCA ANNUAL REPORT 2019