The African Continental Free Trade Area (AfCFTA) Secretariat and Bergmans Security Consultant and Supplies Limited has signed a $3.1 billion concession agreement to digitise customs operations across Africa.
Speaking at the signing ceremony, held in Abuja on Wednesday night, the chairman of Bergmans Security Consultant and Supplies Limited, Alhaji Saleh Ahmadu, said the agreement would drive customs operations across Africa toward advanced technological development.
He described the deal as the fruition of years of work, and said it would help simplify trade across the continent.
He said that the 20-year concession agreement covers the AfCFTA Customs Modernisation Project, which will see the deployment of digital technology to customs administrations across African countries.
The deal is expected to boost intra-African trade and cut revenue leakages on the continent.
