The African Continental Free Trade Area (AfCFTA) Secretariat and the U.S. National Bar Association have signed a Memorandum of Understanding (MoU) to strengthen legal frameworks for small and medium-sized enterprises (SMEs) and boost economic opportunities across Africa. This partnership aims to facilitate cross-border commerce and reduce transactional barriers.
The MoU will enhance the legal environment for SMEs to operate seamlessly across African borders, increase economic growth and development by promoting intra-African trade, and simplify transactions using instruments like the Pan-African Payment and Settlement System (PAPSS). Additionally, it will implement protocols to empower women and youth in trade, promoting inclusive economic growth.
GIPC CEO Simon Madjie attended the signing ceremony, praising the MoU as a significant step toward advancing intra-African trade. He also recommended developing protocols to support diaspora investment, highlighting the importance of connecting African economies with global partners.
This partnership aligns with Ghana’s efforts to promote economic growth and development. The Ghana Investment Promotion Centre (GIPC) has introduced initiatives like the 24-hour premium service to expedite investment registration and approvals, demonstrating its commitment to improving the business environment.
Ruth Abla ADJORLOLO
