AfCFTA and Angola announce major infrastructure and trade investments

The African Continental Free Trade Area (AfCFTA) secretariat has signed a 20-year, $3.1 billion agreement with Nigerian firm Bergmans Security Consultants and Supplies to implement a continent-wide customs system. The project aims to modernize customs through digitalization, standardized cross-border procedures, and real-time cargo tracking to boost intra-African trade and reduce revenue losses across 50 member states.

In Angola, President Joao Lourenco has authorized 158 billion kwanza (approximately €149.1 million) for the construction and equipment of Mandume Ya Ndemufayo University in Lubango. The funding involves agreements between the Angolan Ministry of Finance, Eifo Export Credit Agency, and Investec Bank to support higher education infrastructure in the Huíla and Cunene provinces.