According to Secretary-General Wamkele Mene, the fund is an adjustment that will help build competitiveness among the countries as stipulated in the trade pact. Speaking to Accra-based JoyNews in an interview closely monitored by GhanaWeb, he said the initiative is part of efforts to support member countries come up with innovative ways to position Africa on the map and enhance competitiveness among the member states. “Well in the next six months, we should look out for an establishment of an AfCFTA business forum focusing on small medium enterprises to create connectivity for small medium enterprises, we should also look out for a launch of an AfCFTA adjustment fund of about one billion dollars which help countries that needs to adjust to the new competition that is to be presented by the AfCFTA,” he said. He also said special payment systems will be introduced to reduce the cost of converting currencies. Meanwhile, speaking on the way forward and how goods are moved across borders, Mr Mene said he is excited that Ghana, among other African countries, has custom procedures that allow free trade of goods.

Source: GhanaWeb June 30, 2021 15:22 UTC