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Extending AGOA Will Diversify African Economies- President Cyril Ramaphosa

The extension of the African Growth and Opportunity Act (AGOA) beyond 2025, according to President Cyril Ramaphosa, would diversify African economies and allow for greater production on the continent.

The 20th AGOA Forum closed on Sunday in Johannesburg, with a call to prolong the trade pact for another 20 years.

On Monday, Ramaphosa stated in his weekly message that AGOA was a vital and instrumental tool in developing the country’s economy and would enable for further development in value chains across other countries.

South Africa hosted the three-day summit for the third time in Africa.

Ramaphosa stated that the extension of the legislation between African countries and the United States would strengthen the continent’s export competitiveness.

The president emphasised his enthusiasm for ongoing discussions on the reauthorization of AGOA, stating that its benefits continue to assist African economic progress.