Business
AfCFTA: ECA Tasks Member Countries On Free Movement Protocol
Coordinator, African Trade Policy Centre (ATPC), Economic Commission for Africa (ECA), Mr David Luke, has charged member countries on the significance of the free movement protocol.
Luke gave the charge to an International Organisation for Migration (IOM) side event on the sidelines of the commission’s ongoing 53rd session of its Conference of Ministers in Addis Ababa on Saturday.
He said that the protocol would be critical to securing gains from the African Continental Free Trade Area (AfCFTA).
The event was tagged “Digitalising Migration Response to harness Africa’s Economic Development and Demographic Dividend in the Covid-19 Era.”
The ECA representative said the four basic freedoms which made up the African continental and regional integration agenda were in the movement of people, capital, goods and services.
He recalled that the Abuja Treaty establishing the African economic community, adopted by the defunct Organisation for African Unity in 1991, envisioned the “free movement of people and the rights of residence and establishment”.
“This represents the fifth phase of the Abuja Treaty which is expected to be realised by 2023.
“The Protocol to the Treaty on the Establishment of the African Economic Community relating to Free Movement of Persons, Right of Residence and Right of Establishment was adopted in January 2018 together with a comprehensive implementation roadmap.
“Yet there has been a slow pace of signature and ratification of the protocol,” he said.
According to the ECA, the protocol must be ratified by 15 member states to enter into force and 32 have signed but only Rwanda, has ratified it.
Luke said the concept of free movement of persons was often poorly understood.
“We must do better than this. Freer movement cannot depend only on the AfCFTA Protocol on Services that allows for movement in relation to investment and service delivery.
“True freedom of movement in Africa would instead allow African citizens to move to, live in, work, or provide a service or a business in another country on the continent, under the same or similar conditions as a citizen of that country.”
He added that there might be a need to redesign the freedom of movement protocol to respond to concerns raised by policy makers.
He noted that this was to ensure that Africans could benefit fully from the liberalised market being created by the AfCFTA.
“Regional Economic Communities (RECs), which have faced their own challenges with ratification and implementation of Free Movement Protocols, have a role to play in promoting increased understanding of the free movement concept.
“It is the free movement of people which will boost intra-African trade under the AfCFTA, and enable African countries to proactively and swiftly respond to the twin green and digital transitions we are faced with in the 2020s,” Luke said.
He stressed that Africa could not afford to not build “seamless borders for tomorrow’s Africa,” and further proposed that the ATPC and IOM organise a series of awareness raising events.
He said the events would be organised with the Rwandan Government as a principal partner.
For his part, Mr Jean-Denis Gabikini, Acting Director, Directorate of Economic Development Integration and Trade, African Union Commission, said various challenges in the continent has resulted into increased migration by youths.
“At least 60 per cent of Africa’s population is aged below 24 years and its active contribution to economic growth, which is reflected by increased incomes and development, is not there.
“Instead of making the most of this dividend we are unable to offer jobs to our youth, forcing them to seek livelihoods elsewhere,” Gabikini said.
The 53rd session of the ECA Conference of African Ministers of Finance, Planning and Economic Development is tagged “Africa’s Sustainable Industrialisation and Diversification in the Digital Era in the Context of COVID-19″.
It is held onsite and online and would end on March 23.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter