How can Africa cut the red tape and improve trade?

© Inna Felker | Dreamstime.com - Kazungula border crossing point between Botswana and Zambia

Kenya spends $115 per container in import compliance costs. That may seem a lot, but it was $550 just a few years ago. Imagine the effect on trade both to and from Africa, and within it, if the rest of the continent could achieve similar efficiency gains from cutting red tape. “The implementation of the WTO Trade Facilitation Agreement costs between $4m and $20m per country, while the impact on exports, and hence jobs, would be many times greater. The WTO estimates it could boost developing country exports by up to $730bn per year.” Click here to access The Loadstar’s latest LongRead on Africa.