AfCFTA to boost mining in Zimbabwe

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The Economic Commission for Africa (ECA) said Zimbabwe is poised to attract more capital for its mining sector following the establishment of the African Continental Free Trade Agreement (AfCFTA).

ECA regional director for Southern Africa Mr. Said Adejumobi told delegates during the National Consultative Forum on the AfCFTA held in Harare that more capital would be attracted especially by the platinum and chrome sub-sectors.

The forum which was organised by the country’s Ministry of Foreign Affairs and International Trade in partnership with the Economic Commission for Africa Office for Southern Africa (ECA-SA and others ran under the theme “Expanding Industrial and Trade Growth through the AfCFTA”.

Mr. Adejumobi added that a robust national strategy on the AfCFTA, with committed implementation of the strategy, “can support Zimbabwe’s efforts of economic renewal and consolidation”.

The ECA provided technical and financial assistance in the development of Zimbabwe’s national strategy.

Mr. Adejumobi said the Transitional Stabilisation Programme (TSP), a short-term economic blueprint that will run from October last year to 2020, “speaks to the imperatives of the AfCFTA“.

The agreement establishing the AfCFTA seeks to create a single market for goods and services, facilitated by movement of persons in order to deepen economic integration of the continent in tandem with the Pan African vision of “An integrated, prosperous and peaceful Africa”, enshrined in Agenda 2063.

The AfCFTA, which was established on March 21 last year in Kigali, Rwanda, during the AU Extraordinary Summit, will also cover disciplines that go beyond trade in goods and services to include investment, competition and intellectual property.

All 55 member states of the African Union would be brought together, covering a market of over 1,2 billion people and a combined gross domestic product (GDP) of more than US$3,4 trillion.