The African Continental Free Trade Area Secretariat has signed a 20-year, 3.1 billion dollar concession agreement with Bergmans Security Consultant and Supplies Limited for the implementation of the AfCFTA Customs Modernisation Project.

AfCFTA Secretary-General, Wamkele Mene, signed on behalf of the continental body, while Chairman of Bergmans, Saleh Ahmadu, signed for the company.

The project is expected to provide the technology needed to support customs harmonisation and boost intra-African trade without placing additional financial pressure on national budgets.

Mene said the project aligns with the objectives of the African Continental Free Trade Area and commended Bergmans for its role in advancing the digital transformation of the Nigeria Customs Service. He added that 50 member countries have already joined the project, which is expected to support a single African market serving about 1.3 billion people with a combined gross domestic product of an estimated 3.4 trillion dollars.

— GUARDIAN