Africa Alliance for E-Commerce renews partnership with West African Monetary Union

The Africa Alliance for E- Commerce (AAEC) has renewed its partnership with West African Economic and Monetary Union (WAEMU) through an  additional funding of 10 million CFA Francs this year to support the joint project between  WAEMU-AAEC-AfDB.  

The support will go towards improving the performance of the Africa e-Trade Hub platform to  cater for the exchange of electronic certificates of origin as well as consolidating ongoing initiatives and further support Member States in the process of simplifying procedures and  formalities. This will enable WAEMU countries to access the sub-regional market and the African market, within the framework of the implementation of the Africa Continental Free Trade Agreement  (AfCFTA). 

Speaking during a courtesy call to WAEMU, AAEC Executive Committee President Amos Wangora said the partnership will contribute to the deepening of capacity building among  Member States on trade facilitation and electronic commerce, through more simplified and dematerialised exchanges. 

“As AAEC we believe that the Single Window stimulates the development of inter and intra regional trade in Africa and enables businesses to be more competitive in the markets and  ready to meet the challenges of globalization. With the above initiative, we believe that  jointly with WAEMU and other partners, we will contribute more to this agenda and make the  Single Window more impactful,” Wangora, who is the current CEO of KenTrade noted. 

Since their collaboration began in 2013, AAEC and WAEMU have signed two financial  agreements, one signed in October, 2015 and renewed in August 2016 for an amount of 20  million CFA Francs. The second agreement was signed in November 2017 and was renewed in March 2019 for an amount of 30 million CFA Francs.  

“It is our hope that WAEMU will continue supporting AAEC to achieve the above and we are  open to new partnerships and support in all the above areas and any other area that would  be of interest to WAEMU. Of particular importance is the need for AAEC to sustain the  maintenance and improvement of the joint WAEMU – AAEC and AfDB project and we will  shortly be sharing with the Commission our proposal for the sustainability of the Africa e Trade Hub platform that we are requesting WAEMU to assist us in financing,” he noted.  

During the AAEC General Assembly meeting held in Mombasa, Kenya in March 2022, a new Executive Committee for the AAEC was put in place to run the affairs of the Alliance for the  next two years. This new Executive Committee is chaired by Kenya as the President and  includes Morocco as the President of the General Assembly and Cameroon, Mozambique and  Senegal as the Vice Presidents. 

“As Kenya, we are delighted to have been elected to the position of the President of the Executive Committee of the Alliance and I wish to express my personal appreciation and that  of the people of Kenya for this recognition. As a country, we wish to confirm our commitment  and support to the AAEC and give our assurance for our continued support,” Wangora assured.  

He thanked his predecessor immediate former President Isidore Biyiha for steering the AAEC so ably during the last five or so years in the middle of the Covid 19 crisis, noting that his  contribution to the AAEC will remain a strong pillar for the future activities of the AAEC. 

“Going forward, some of my areas of focus will include advocating for more countries to join the Alliance and implement the Single Window as a trade facilitation tool, building more  capacity amongst members to implement and sustain the Single Window and other trade  facilitation initiatives as well as mobilizing funds, publicizing and implementing AAEC activities  and projects including the joint projects between WAEMU, AAEC and AfDB,” he concluded.  


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button

Discover more from Techish Kenya

Subscribe now to keep reading and get access to the full archive.

Continue reading