AfCFTA signs $3.1bn deal to modernise customs across Africa
The African Continental Free Trade Area Secretariat has entered a $3.1 billion agreement with Bergmans Security Consultants and Supplies Limited to modernise customs administration across Africa. The initiative aims to accelerate intra-African trade, reduce border bottlenecks, and improve revenue collection. Wamkele Mene and Saleh Ahmadu signed the agreement in Abuja, highlighting the project's significance for the continent's economic integration. The project draws inspiration from successful customs reforms in Nigeria, aiming to replicate these results across Africa.
What we know
- The AfCFTA Secretariat signed a 20-year, $3.1 billion concession agreement with Bergmans Security Consultants and Supplies Limited to modernise customs administration across Africa.
- The agreement was signed in Abuja by Wamkele Mene for AfCFTA and Saleh Ahmadu for Bergmans.
- The project will deploy digital technologies and customs infrastructure to support the continent’s free trade agenda and improve efficiency.
- About 50 African countries have already signed on to the initiative, which aims to create a single continental market of about 1.3 billion people.
- The project is inspired by successful customs modernisation in Nigeria, which improved cargo clearance, transparency, and government revenue.
