The African Continental Free Trade Area (AfCFTA) Secretariat and Quest Ghana Limited have signed a definitive joint venture agreement to establish a $5.17 billion AfCFTA Digital Trade Corridor aimed at strengthening digital infrastructure and accelerating intra-African commerce.
The Republic of Seychelles will provide sovereign support for the initiative, while the joint venture will be headquartered in Victoria, the country’s capital.
The project is expected to provide the digital infrastructure required to support intra-African trade through the development of a digital African Minerals and Commodities Exchange, a digital marketplace and a continental cross-border interoperable payment system.
The agreement comes as stakeholders seek to deepen Africa’s digital transformation and unlock opportunities under the AfCFTA, with an ambition to increase intra-African trade from about $200 billion to $500 billion and beyond.
The signing followed a Memorandum of Understanding (MoU) reached by the parties in March this year and Cabinet approval granted by the Government of Seychelles in July, paving the way for implementation of the project.
