Oramah's new book foresees intra-African trade doubling in decade

Afreximbank President Benedict Oramah (center). His new book the "Foundations and Evolutions of Structured Trade Finance" argues that implementation of AfCFTA should boost regional commerce from its current 15-17 per cent share of Africa's total trade. [Courtesy]

Intra-African trade could double within a decade as continental free trade reforms take hold, African Export-Import Bank (Afreximbank) President Benedict Oramah projected on Thursday while launching the second edition of his trade finance book.

The updated "Foundations and Evolutions of Structured Trade Finance" argues that implementation of the African Continental Free Trade Agreement (AfCFTA) should boost regional commerce from its current 15-17 per cent share of Africa's total trade. The prediction comes as the Cairo-based lender reports South-South trade now accounts for 68 per cent of Africa's commerce, up from just 23 per cent in 1995.