31 August 2018 :According to media reports, the African Continental Free Trade Area (AfCFTA) deal is yet to gain the expected traction. The deal, which aims to create a common market in Africa, is supposed to come into effect 30 days after ratification by at least 22-member parliaments. However, despite an approval-in-principle by 49 countries, only seven parliaments have agreed to the terms of the deal, creating the possibility of an extended timeline. 

Analysts highlight that the AfCFTA could potentially be one of the world’s largest free trade areas by number of participants and is expected to have a positive impact on intra-African trade which has been historically weak and informal. Recently, President Buhari expressed his willingness to join the agreement, albeit committing to engage necessary stakeholders before taking the step. 

Reporting for EasyKobo on Friday ,31 August 2018 in Lagos, Nigeria

Source: Vetiva Capital Management Limited