Namibia needs to be prepared well ahead of time to mitigate against the unintended consequences for the ambitious African Continental Free Trade Area (AfCFTA) by exploiting opportunities in the agreement. This is because regional integration such as the ambitious AfCFTA does have some unintended consequences although the overall and long-term benefits appear to outweigh the immediate sacrifices. Alternative import sources in Africa are likely to be associated with lower tariffs and therefore lower revenue collection for most countries.
These were the sentiments expressed last week by Bank of Namibia’s governor, Johannes !Gawaxab, at the bank’s 21st annual symposium. !Gawaxab said the removal of trade taxes might increase imports into Namibia and result in the displacement of Namibian industries by more well-established and efficient continental producers. Read More.
