Ghana wins bid to host AfCTA secretariat

Ghana has won the bid to host the secretariat of the African Continental Free Trade Area (AfCTA).

This makes Ghana’s capital, Accra the Commercial Capital of Africa.

This comes on the back news that Nigeria, which is Africa’s largest economy had belatedly agreed to join the huge free trade area.

Nigeria is expected to sign onto the AfCFTA at a summit of the African Union that starts in Niger on July 7.

The AfCFTA came into force in May after clearing a key procedural hurdle and being ratified by the parliaments of 24 countries.

According to the AU, the zone, bringing together Africa’s 1.2-billion people into the world’s largest trade bloc, could increase intra-African trade by 60% by 2022.