The African Continental Free Trade Area (AfCFTA) Secretariat has signed a Memorandum of Understanding (MoU) with the U.S. National Bar Association, aiming to strengthen legal support for small and medium-sized enterprises (SMEs) and expand trade opportunities across Africa.
The agreement, sealed on Saturday, April 5, sets the stage for deeper collaboration on legal frameworks that can ease trade barriers and open up new markets for African businesses. Key tools to be utilized under the partnership include the Pan-African Payment and Settlement System (PAPSS) and the Protocols on Women and Youth in Trade, both designed to streamline cross-border transactions and promote inclusive participation.
Speaking at the signing ceremony, Simon Madjie, CEO of the Ghana Investment Promotion Centre (GIPC), welcomed the deal as a critical move toward advancing intra-African trade. He also called for the creation of formal mechanisms to attract Diaspora investment, noting the untapped potential of connecting African markets to global networks.
