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The Authority is tasked with the general policy direction and controlling the overall performance of the executive functions of COMESA. The COMESA Authority meets once a year at Summits which are held in different member States. The hosting government and the COMESA Secretariat bear joint responsibility for their organization.
The SADC is the largest of the AFTZ member trade blocks and covers a population of some 248 million people and a zone whose cumulative GDP is $379bn in 2006. COMESA was established in 1994 as a replacement for the Preferential Trade Area. It includes 20 nations, with a combined GDP of US$286.7bn in 2006.
The 29 tripartite member/partner countries represent 53% of the African Union's membership, more than 60% of continental GDP ($1.88 trillion), and a combined population of 800 million. [ 2 ] Negotiations between the three trade blocs first began in June 2011. [ 1 ]
The People's Republic of China was the first non-regional member state to join TDB in 2000. The African Development Bank (AfDB) is a major institutional shareholder, alongside eleven other institutional investors, including the Arab Bank for Economic Development in Africa (BADEA) and OPEC Fund ( The OPEC Fund for International Development ).
The African Continental Free Trade Area (AfCFTA) [11] is a free trade area encompassing most of Africa. [12] [13] [14] It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization, [15] and the largest in population and geographic ...
Kenya is the only member state to not have any standing debt while all other member states have significant arrears of some kind; As of November 2024, the DRC owes US$20 million, Burundi US$17 million, South Sudan US$15.6 million, Somalia US$7 million, Rwanda $5.2 million and Uganda US$3.4 million. [88]
The Regional Economic Communities (RECs) in Africa group together individual countries in subregions for the purposes of achieving greater economic integration. They are described as the "building blocks" of the African Union and are also central to the strategy for implementing the African Development Development Agency (AUDA-NEPAD).
State (57) [1] GNI [2] Currency [3] UN [4] AU [5] Interregional South African West African Central African East African North African CEN-SAD COMESA CEPGL SADC SACU ECOWAS UEMOA
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