An industry widely viewed as a path to economic growth on the continent. That’s why the African Continental Free Trade Area was launched in 2018. Manufacturing holds potential as Africa navigates the path to recovery post-pandemic. Experts project that the sector could hit 666.4 billion dollars by 2030. That’s over $200 billion more than it did in 2015. Trading under the African Continental Free Trade Area has kicked off. And Africa’s largest economy is planning a leading role in this $3.4 trillion market. Nigeria took a while to sign up to the agreement. But when it finally did, the most populous nation on the continent says it cannot afford to be left out.
Importation of computer equipment will now be free of taxes and duties. This means local students can purchase laptops at lower prices for example. It’s part of a move that Brazzaville hopes will boost its digital economy. Importers say old stocks that were previously taxed, would first have to run out before this new law can impact on new imports. While the law on the importation of electronic items into the Republic of Congo is an exception in sub-Saharan Africa, the lack of basic infrastructure such as the provision of electricity, is still a problem in a country where only 9.7 percent of the population has access to the Internet.