The African Union (AU) has officially endorsed Nigeria as the Digital Trade Champion for the continent under the Africa Continental Free Trade Area (AfCFTA) Digital Trade Protocol.
This comes in light of Nigeria’s remarkable strides in promoting digital enterprise and innovation across Africa.
The endorsement was announced at the 38th Ordinary Session of the AU Assembly of Heads of State and Government, which concluded on Sunday in Addis Ababa, Ethiopia.
The session applauded Nigeria’s proactive role in driving the implementation of the AfCFTA Digital Trade Protocol, adopted in February 2024.
According to a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the protocol outlines an ambitious agenda with eight annexes.
According to the statement, these annexes address key areas such as rules of origin, digital identities, cross-border data transfers, online safety and security, public interest exceptions for source code disclosure, financial technology, and the regulation of emerging technologies.
Mahamadou Issoufou, AU’s AfCFTA champion and former President of Niger Republic, commended Nigeria’s leadership in advancing the digital trade agenda.
In his progress report to the Assembly, Issoufou highlighted the significance of Nigeria’s Digital Economy Roundtable, held in Abuja in January, as a pivotal moment in the continent’s digital trade journey.
Read also: AU endorses Nigeria as AfCFTA digital trade champion
“No organisation, region, or continent has negotiated or adopted such a comprehensive legal instrument on digital trade. Africa is now positioned to harness the opportunities of the digital economy for innovation and job creation,” Issoufou said.
He noted that young Africans are already at the forefront of digital innovation, particularly in mobile banking and other tech-enabled services.
“The AfCFTA Protocol on Digital Trade will provide the enabling environment for these young innovators to fully participate in Africa’s digital economy,” Issoufou added.
The former Nigerien leader also praised President Bola Tinubu and his administration for hosting the Abuja Roundtable, which brought together key stakeholders, including young entrepreneurs from the fintech and digital sectors, to explore Africa’s digital future.
“The energy and enthusiasm displayed by young Africans at the event made it clear that they are eager to leverage the opportunities provided by the AfCFTA Digital Trade Protocol,” Issoufou remarked.
Reacting to the AU’s endorsement, Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, described the development as a significant milestone for Africa’s economic growth.
“Africa has demonstrated global leadership by pioneering the first-of-its-kind AfCFTA Protocol on Digital Trade, which establishes a comprehensive regulatory framework.
“Nigeria’s designation as the Digital Trade Champion is a game changer. The protocol will create millions of jobs for Africa’s tech-savvy youth, contribute billions to the continent’s GDP, and attract significant investments in public digital infrastructure”, Oduwole said.
The AfCFTA Protocol on Digital Trade aims at fostering seamless cross-border e-commerce, boost digital innovation, and integrate Africa’s diverse economies into a single, digitally driven marketplace.
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