Lack of infrastructure is a bigger hurdle to trade within Africa than uncertain non-tariff barriers, eating up close to 40 percent of logistics expenses and affecting free movement of goods, officials have warned.
Amani Abou-Zeid, the commissioner for Infrastructure and Energy at the African Union Commission, has urged countries to embrace transnational projects to facilitate the movement of cargo, noting that no meaningful development can take place without significant investment in infrastructure.
“We need to invest in infrastructure to boost our intra-trade on the continent. This can only be achieved by increasing budgetary allocation toward infrastructure projects,” said Ms Zeid in a speech during the official launch of the Programme For Infrastructure Development in Africa (Pida) Week in Nairobi, organized by the African Union Development Agency (Auda)-Nepad.
Read more: https://www.theeastafrican.co.ke/tea/business/intra-africa-trade-in-need-of-more-investment-to-move-cargo-3740830