Thread by @wondafujosh

On the 1st of January, 2021, the African Free Trade Zone came into effect.

54 African countries kicked off the African Free Trade Zone.

A free trade zone is a class of special economic zone, a duty free Area where a group of countries reduce or eliminate trade barriers.
#Africa

Fun Facts About the AFRZ

**It is the world's largest free trade zone

**It has been said that it will lift about 30 million Africans out of extreme poverty.

** It will greatly Transform the economy of Africa

** Will reduce importation from other continents

#Africa

** Increase exportation to other continents

**Improve trade amongst African countries.

#Africa #uganda #AfricasGlobalBank
#ngoziokonjoiweala #WTODG #WTO

Of course there are numerous challenges to the AFTZ, which includes but not limited to

*Means of transportation; the air and railway means of transportation is the most effective for tradings like this and we have to admit that both aren't close to being solid yet in Africa.

*Border Closure; closure of borders amongst neighbouring countries havr to stop.

*Skills; to effectively run this free trade Zone we need a massive upgrade in regards to our skill set.

Basically I believe that this is long overdue, but it is better late than never.