#trade

Nigeria is advocating for a cross-border payment system that eliminates the need for third-party currencies, according to Techpoint Africa. The discussion includes the recent approval of Yellow Card in Switzerland and Daya's successful fundraising of $2.4 million aimed at developing stablecoin payment infrastructure.

The East African Community (EAC) has outlined its new budget of $110.8 million, focusing on trade, monetary union, and peace. Key priorities include accelerating the East African Monetary Union by harmonizing fiscal and monetary policies, operationalizing the East African Monetary Institute, and integrating regional payment systems.

The Cocoa and Coffee Farmers Alliance Association of Africa (COCEFAAA) has proposed the establishment of a unified African cocoa producers' bloc and a minimum floor price of $6,000 per metric tonne. This initiative aims to enhance production coordination and strengthen the bargaining power of farmers across Africa, addressing concerns over foreign control in the industry.

Femi Pedro, the former Deputy Governor of Lagos State, has officially taken office as Nigeria's High Commissioner to Australia. He has committed to enhancing economic cooperation and increasing trade between Nigeria and Australia.

Festus Keyamo, the Minister of Aviation and Aerospace Development, stated that the Nigeria–East-Southern Africa Air Cargo route will enhance air connectivity and unlock Africa's trade potential. This initiative aims to improve trade across the continent by facilitating better logistics and transportation options.

Several leading Algerian companies are looking for partnerships in Tanzania's manufacturing and agricultural sectors, driven by Tanzania's growing reputation as a promising investment destination in Africa. This interest was highlighted during the ongoing 57th Algiers International Fair (FIA), where Tanzanian representatives are promoting opportunities for trade and investment.

Pakistan is looking to capitalize on the improving relations between the US and Iran, viewing it as a strategic opportunity that could enhance its trade, provide better access to energy, and restore its significance in the region. This potential shift in dynamics could benefit Pakistan economically and politically, according to Al Jazeera.

Christine Lagarde, president of the European Central Bank, emphasized at the Munich Security Conference in February 2026 that trade is as much a security issue as an economic one. Her remarks, while focused on Europe, resonate with the challenges faced by Africa's 54 economies, which are navigating a complex situation requiring them to remain integrated in the global economy for development while addressing various tensions.

Uganda's diplomatic missions in the Middle East are meeting in Istanbul for a strategic retreat focused on enhancing economic and commercial diplomacy. The five-day event, which runs from June 21 to 25, 2026, aims to explore new trade and investment opportunities for Uganda. This initiative is being organized by the Ministry of Foreign Affairs.

The outgoing Icelandic envoy to China reflects on positive experiences during their tenure, highlighting that China is Iceland's largest export market in Asia and its second largest trade partner overall, following the European Union. The envoy notes the growth in people-to-people relations, with Chinese tourists making up 6 percent of all foreign visitors to Iceland.

Tanzania and Namibia signed four cooperation agreements during a state visit by Namibian President Netumbo Nandi-Ndaitwah. The agreements focus on trade, small and medium enterprises, defence, and municipal cooperation. Both countries aim to enhance cooperation across various sectors and strengthen trade and investment links by increasing private sector participation.

The Nigeria Textile Manufacturers Association (NTMA) has called for stronger government measures to protect the local textile industry from excessive imports, smuggling, and unfair foreign competition. Dr. Hamma Ali Kwajaffa, the Director-General of NTMA, emphasized the association's ongoing advocacy for decisive action during a program on the Nigerian Television Authority (NTA).

Deputy President Paul Mashatile is visiting China to enhance trade and investment relations between the two countries. He is accompanied by Deputy Trade, Industry and Competition Minister Zuko Godlimpi and other officials during this diplomatic mission.

During President Tharman Shanmugaratnam's state visit to Tanzania, the two countries signed five agreements covering taxation, trade facilitation, public service capacity building, and diplomatic cooperation. They also emphasized plans to enhance collaboration in investment, digital transformation, logistics, financial services, and industrial development, with bilateral trade reaching USD 74 million and Singaporean investments in Tanzania exceeding USD 535 million.

Malong Awan discusses the interconnectedness of East Africa's challenges, including aid, youth labor, democracy, and cross-border trade. He suggests that this interdependence could foster mutual support and collaboration among the nations in the region, as highlighted in an interview with The Elephant.

According to Uganda Business News, the ongoing global geoeconomic volatility, influenced by the second Donald Trump presidency and conflicts in the Middle East, has accelerated China's shift in trade and investment strategies in Africa, which began in 2019. This shift, centered in Hunan Province, has led to the development of the "Hunan Model" as a more sustainable alternative to the previous "Angola Model" focused on infrastructure and resource extraction.