In order to make cross-border e-commerce transactions easier Kenya and Ghana are going to promote an electronic trading framework to the African Union’s head of states next month.
The idea is to create a platform for e-commerce and payments that can be used across the continent. The framework has been created by Ghana with technical support from regional trading blocs and the private sector, and will result in a new company owned mostly by the member states of the African Union. The new company will be called Pan-African Trade Hub System.
"If We Fail, We Will Do It in June"
The proposed platform will hopefully improve regional and continental integration and make Africa's trade system stronger.
- It will enhance the speed in implementing what we intend to do. Kenya and Ghana will introduce this at the AU summit hoping that we get a slot. If we fail, we will do it in June. There will be a lot marketing going on before then, said Kenya’s Foreign Affairs and International Trade CS Amina Mohamed, according to the Kenyan newspaper The Star.
Ghana’s Trade Minister, Ekwow Spio-Gharbrah, is also in favour of the project, since he hopes it will facilitate transactions and strengthen the African economy.
- The system will help network commodity exchanges where the bulk of goods in one country can be sold and prevent loss coming from inefficiencies of the distribution channels. We recognise there will be risks with cross-border trade and that's why we have technical assistance to make this project a reality.