A $500Billion USD industry, how cokodeal.com is racing for a large market share.
It is no news the development of the on-going integration of African countries. African union passport, Tripartite free trade, single unit African currency, infrastructure developments and list of Blocs in the continent are pattern for a fast growing development trend. Presumably, it may be emphasized that the future once far off is far reaching with a digital ubiquity and mobile technology penetration in Africa.
Cokodeal.com a disruptive e-commerce marketplace for intra-Africa trade is racing up to lead the market in connecting Africa in an innovative way. With its ambition to accomplish it, its site is designed with multi currency product upload, regional homepage and currency tailored to each country to access goods from all over Africa.
To see a multi-trade channel where goods from Tanzania can be accessed by Nigerians on its platform in Naira, or Products from Ghana accessed in South Africa in Rands in real time.
According to the CEO, Mike Dola on CNBC Africa it will serve as a market linkage, and access to markets for manufacturers and exporters on the continent.
Cokodeal is expanding to South Africa, Ghana, Kenya, Angola and Rwanda. through software product licensing to partner firms with exclusive rights.
World Economic Forum on Africa in Kigali, AfDB’s president Akinwumi Adesina noted intra-African investments have expanded significantly to US$50bn.
In a recent publication by Guardian Nigeria, Titled; Transport infrastructure driving boost in Africa’s cross border trade throws more light on the on going work to develop intra-Africa trade.
Africa could soon be the largest free-trade area in the world. This is if the African Union’s Continental Free Trade Area (CTFA) stays on track to be operational by the end of this year. Once up and running, the continent-wide free trade zone could lead to a 52 percent ($35 billion) increase in intra-African trade within the next 5 years, according to the United Nations Economic Commission for Africa (UNECA).
The UNECA’s Stephen Karingi, who heads their Regional Integration and Trade Division, says “boosting intra-African trade is the most effective way to speed up Africa’s economic transformation.” Speaking at the recent Africa Session of the Aid for Trade Global Review 2017, Karingi added that “trade contributes towards industrialization and structural transformation.”
Increasing intra-African trade — which reportedly stands at 13 percent — will require the removal of certain barriers in order to improve connectivity, including improvement of custom procedures, reduction of transit and other trade costs, and, importantly, development of reliable transport infrastructure. Here’s a look at some of the inroads that have already been made in the expansion of Africa’s rail, road, and port networks to connect the fragmented African market:
The Ethiopia-Djibouti Rail Link
The Trans-African Highway
Doraleh Multipurpose Port
West Africa Regional Rail Integration
The East African Rail Masterplan