The Attijariwafa financial institution group and the AfCFTA Secretariat signal a memorandum of understanding

The Attijariwafa financial institution group and the Secretariat of the African Continental Free Commerce Space (AfCFTA) signed a memorandum of understanding on the sidelines of the 2024 Version of the Worldwide Africa Improvement Discussion board. This settlement goals to speed up the impacts of the AfCFTA to facilitate commerce and funding in Africa.

Signed by Mr. Mohamed El Kettani, CEO of Attijariwafa financial institution, and HE Wamkele Mene, Secretary Normal of the AfCFTA Secretariat, this settlement issues cooperation to mobilize sources, establish and help initiatives in key sectors corresponding to corresponding to infrastructure, power, agriculture, agro-industry, car, pharmaceutical {industry}, transport and logistics.

Each events additionally decide to supporting African buying and selling corporations to spice up intra-African commerce, promote the participation of ladies and younger entrepreneurs, and use Attijariwafa financial institution’s Africa Improvement Membership as a South-South alternate platform for African entrepreneurs.

The essential rules of this cooperation embody:

• Selling AfCFTA commerce and funding alternatives.
• Mutual participation in occasions and boards organized by each events and in sectoral financial missions of the Africa Improvement Membership.
• Participation within the Sufawe initiative of the Africa Improvement Membership.
• Co-organization of sectoral webinars on AfCFTA alternatives.
• The alternate of knowledge and publications on African markets.

Mr. Mohamed El Kettani mentioned the AfCFTA has the potential to rework intra-African commerce by eliminating tariff and non-tariff obstacles and boosting overseas direct funding. He reaffirmed Attijariwafa Financial institution’s dedication to supporting this dynamic of development and financial integration. This settlement represents a big step ahead for each organizations and a novel alternative to reap the benefits of the synergies created by this strengthened cooperation, thus contributing to a extra built-in, aggressive and affluent Africa.

LNT with CdP