300,504FansLike
227FollowersFollow
6FollowersFollow
FollowersFollow
907FollowersFollow
138SubscribersSubscribe

President Buhari signs instrument to enable African Trade Insurance Agency

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. We invite you to donate to our fundraiser to help us keep our quality news free and available for all.

President Muhammadu Buhari has signed the instrument of accession of the agreement for the establishment of the African Trade Insurance Agency.

The Agreement and the Agency are registered with the Secretariat of the United Nations in accordance with Charter of the United Nations and is in cognizant of the fact that lack of adequate political, non-commercial and commercial risk insurance is a significant impediment to the availability of finance for investments in Africa and the expansion of African foreign trade and intra-Africa trade.

The Agency when executed will acknowledge previous multilateral efforts made by African States towards regional economic integration through co-operation in trade liberalization and development so as to attain sustainable growth, promote economic activity and create an enabling environment for foreign trade, as well as cross-border and domestic investments.

[read_more id="2" more="Read full article" less="Read less"]

Recalling the economic objectives and aims of the African Union, there are  several African Treaties on regional economic integration, including the Treaty Establishing the Common Market for Eastern and Southern Africa, the Treaty Establishing the Southern African Development Community and the Treaty Establishing the Economic Community of West African States.

A memorandum from the Minister of Justice and Attorney-General, Abubakar Malami, stated that the request for the President’s signature on the agreement was sequel to the directive of the Federal Executive Council, that the instrument be prepared and forwarded for execution.

The ratification was adopted at Grand Bay in the Republic of Mauritius on the Eighteenth Day of May, 2000. The object and purpose of the Agency is to provide, facilitate, encourage and otherwise develop the provision of, or the support for, insurance, including coinsurance and reinsurance, guarantees, and other financial instruments and services, for purposes of trade, investment and other productive activities in African States in supplement to those that may be offered by the public or private sector, or in cooperation with the public or private sector.

[/read_more]

TODAY NEWS AFRICA
TODAY NEWS AFRICAhttps://todaynewsafrica.com
TODAY NEWS AFRICA is registered and headquartered in Washington, District of Columbia, United States of America. Our publication is widely read, respected and influential. By providing daily answers to questions our readers have about the people, the businesses and the continent of Africa, we are reaching a diverse and wide audience from around the world. Our readers, many of them world leaders, trust us because we are independent and truthful. Our advertisers understand the difference between news, views and ads. Contact us: contactus@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

300,504FansLike
227FollowersFollow
6FollowersFollow
1FollowersFollow
907FollowersFollow
138SubscribersSubscribe

JUST IN

WHO says social and environmental factors behind Africa’s low COVID-19 cases

COVID-19 transmission in Africa has been marked by relatively fewer infections, which have been on the decline over the past two...

South Africa, Morocco, Egypt, Ethiopia and Nigeria account for 71% of all COVID-19 cases in Africa

South Africa, Morocco, Egypt, Ethiopia and Nigeria continue to drive COVID-19 infections in Africa, accounting for 71% of all cases on...

New evidence shows refugees and migrants trapped in horrific cycle of abuses in Libya

Tens of thousands of refugees and migrants in Libya are trapped in a vicious cycle of cruelty with little to no...

Amnesty International condemns grand jury’s decision not to file any charges in Breonna Taylor death

Amnesty International on Wednesday condemned a Kentucky grand jury's decision not to file any charges against any officers involved in Breonna...

Ethiopian health expert and WHO Director General Dr. Tedros Adhanom Ghebreyesus is one of Time 100 most influential people in 2020

Ethiopian health expert and World Health Organization (WHO) Director General Dr. Tedros Adhanom Ghebreyesus is one of Time Magazine's 100 most...

MOST POPULAR

Damning report finds detainees in Iran were sexually abused and given electric shocks in gruesome post-protest crackdown

Iran’s police, intelligence and security forces, and prison officials have committed, with the complicity of judges and prosecutors, a catalogue of...

Ethiopia charges prominent opposition figure Jawar Mohammed with terrorism

As human rights organizations continue to warn that Prime Minister Abiy Ahmed is turning Ethiopia into a dictatorship, his administration on...

WHO and UNICEF sign 10-year partnership to promote mental health of children and adolescents

 A new partnership between WHO and UNICEF is calling for key actions in universal health coverage, mental health, emergencies and nutrition

Bill Gates praises Africa’s response to COVID-19 but warns against collateral damage

Microsoft founder Bill Gates on Sunday praised Africa's response to the novel coronavirus but warned against collateral damage, including a drastic...

In moving film, UN calls for collective action to tackle global challenges, including COVID-19, racism, climate change and poverty

The United Nations, Project Everyone and 72 Films are launching “Nations United - Urgent Solutions for Urgent Times,” a first of...

Atiku support group very upset, wonders why National Youth Council of Nigeria cannot see Buhari is destroying the country

In a statement on Thursday, the Atiku support group said it was very upset, wondering why National Youth Council of Nigeria cannot see Buhari is destroying Africa's most populous nation.The group wrote: "The attention of All Atiku Support Groups (AASG) has been drawn to an allegation leveled against the former Vice President of Nigeria and flag bearer of...

Stay connected

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

65 Shares
Share
WhatsApp
Reddit
Tweet
Share