Lagos, NG • GMT +1
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The African Continental Free Trade Area, based on its agreement, is expected to cover a market of 1.2billion Africans with a combined GDP of $2.5trillion. Nigeria the largest economy and population in Africa with more than $500 billion in GDP, became the 34th African country to fully ratify and submit its Instrument of Ratification of the African Continental Free Trade Area.
The strategic objective of Nigeria's participation in the AFCFTA is to capture 10% of Africa's imports, as well as double the country's export revenues by 2025. The nexus between AfCFTA and Islamic Finance is that it encourages long-term investments, reduces welfare disparity, and provides sound financial stability with no interest but rather a profit.
The adoption of Islamic Trade Finance will go a long way in supporting Intra African trade which will lead to job creation and economic empowerment in the region. This edition of Islamic Finance Weekly anchored by Bukola Akinyele-Yisau features Francis Anatogu, the Secretary, National Action Committee on AfCFTA.
He speaks on "leveraging Islamic finance with the AfCFTA, the right ecosystem for Islamic finance to thrive in Nigeria and the outlook for the non-interest market". According to him, there is need for more awareness on how the non-interest bearing instruments can be leveraged to support the African Continental Free Trade Area.
Please visit https://conference.iifpnigeria.org/#registration to register or contact Monsur - 08034459801, Tunmishe - 08035803197 Wasilat -08132501405 for partnership, sponsorship and registration.
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