{"id":65564,"date":"2025-03-18T06:41:13","date_gmt":"2025-03-18T06:41:13","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential"},"modified":"2025-04-19T19:03:12","modified_gmt":"2025-04-19T19:03:12","slug":"afcfta-and-brics-unlocking-africas-trade-potential","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential","title":{"rendered":"Afcfta and BRICS: Unlocking Africa\u2019S Trade Potential"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Botswana. <\/strong><\/span><b>The African Continental Free Trade Area (AfCFTA) is emerging as a key player in global trade, and its growing ties with BRICS nations present new opportunities for economic collaboration. With countries like Ethiopia, Egypt, and South Africa joining BRICS, the question arises: How will AfCFTA benefit from this alliance?<\/b><\/p>\n<p>The BRICS bloc represents a significant share of global GDP and investment. Meanwhile, Africa offers vast untapped potential in trade, infrastructure, and critical minerals. In an interview , Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA), explained how these two entities can benefit each other.<\/p>\n<p>&#8220;The value proposition that we make as a continent of Africa to the BRICS is to look at the AfCFTA as an investment market, as an opportunity for investment-led trade,&#8221; Mene explained.<\/p>\n<p>One area of potential collaboration is the processing of critical minerals, where African nations can work with BRICS members like China to add value to resources within the continent. Additionally, trade facilitation and seamless payments platforms can enhance economic cooperation between BRICS and AfCFTA members, the secretary-general noted, speaking on the sidelines of the 57th session of the ECA Conference of African Ministers of Finance, Planning, and Economic Development.<\/p>\n<p>Addressing Currency Challenges in African Trade<\/p>\n<p>A major obstacle to intra-African trade has been the reliance on foreign currencies such as the US dollar and the euro, which increases transaction costs. Mene emphasized AfCFTA\u2019s efforts to address this issue.<\/p>\n<p>&#8220;If the cost of trade is caused to increase by buying a third currency, then the AfCFTA has to intervene, which we have done through the Pan-African Payment and Settlement System,&#8221; he said.<\/p>\n<p>Launched in collaboration with Afreximbank, this system enables transactions in local currencies, reducing costs and making trade more efficient.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Botswana<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Botswana. The African Continental Free Trade Area (AfCFTA) is emerging as a key player in global trade, and its growing ties with BRICS nations present new opportunities for economic collaboration. With countries like Ethiopia, Egypt, and South Africa joining BRICS, the question arises: How will AfCFTA benefit from this alliance? The BRICS bloc [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":65563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234],"class_list":["post-65564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-botswana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Afcfta and BRICS: Unlocking Africa\u2019S Trade Potential - Botswana<\/title>\n<meta name=\"description\" content=\"The African Continental Free Trade Area (AfCFTA) is emerging as a key player in global trade, and its growing ties wi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afcfta and BRICS: Unlocking Africa\u2019S Trade Potential\" \/>\n<meta property=\"og:description\" content=\"The African Continental Free Trade Area (AfCFTA) is emerging as a key player in global trade, and its growing ties wi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-18T06:41:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-19T19:03:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2025\/03\/sm_1742269372.533482.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1078\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Afcfta and BRICS: Unlocking Africa\u2019S Trade Potential\",\"datePublished\":\"2025-03-18T06:41:13+00:00\",\"dateModified\":\"2025-04-19T19:03:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential\"},\"wordCount\":310,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2025\/03\/sm_1742269372.533482.jpg\",\"keywords\":[\"Botswana\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/afcfta-and-brics-unlocking-africas-trade-potential\",\"name\":\"Afcfta and BRICS: Unlocking Africa\u2019S Trade Potential - 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