AfCFTA Secretariat: Bergmans Concession Agreement Valued at US$3.1 Billion

• The AfCFTA Secretariat has signed a US$3.1 billion concession agreement with Bergmans Security Consultants and Supplies Limited to modernize customs infrastructure across participating countries.
• The Public-Private Partnership (PPP) model used in the project will enable private sector companies to partner with governments to deliver infrastructure projects.
• The implementation of this concession agreement may have significant implications for trade and investment in participating AfCFTA State Parties.

This significant partnership aims to modernize customs infrastructure across participating AfCFTA State Parties through a Public-Private Partnership (PPP) model.

The AfCFTA Secretariat has entered into a landmark concession agreement with Bergmans Security Consultants and Supplies Limited, valued at US$3.1 billion over 20 years. This significant partnership aims to modernize customs infrastructure across participating AfCFTA State Parties through a Public-Private Partnership (PPP) model. The agreement is a crucial step towards implementing the AfCFTA Customs Modernisation Project, which seeks to enhance trade and investment in the region.

The concession agreement is a significant development in the AfCFTA framework, which aims to create a single market for goods and services across participating countries. The Public-Private Partnership (PPP) model used in this project is a key feature of the AfCFTA's customs modernization strategy. This approach allows private sector companies like Bergmans Security Consultants and Supplies Limited to partner with governments to deliver infrastructure projects, leveraging their expertise and resources. The agreement also highlights the importance of cooperation between governments and the private sector in driving economic growth and development.

The implementation of this concession agreement has significant implications for trade and investment in participating AfCFTA State Parties. Lawyers and compliance officers should closely monitor the project's progress, as it may impact customs procedures, trade regulations, and investment opportunities. The modernization of customs infrastructure will also create new opportunities for businesses to expand their operations across borders, fostering regional economic integration and growth. As the AfCFTA continues to shape the region's trade landscape, this concession agreement is a crucial step towards realizing its vision of a single market for goods and services.

Lawyers and compliance officers should watch for the implementation of this concession agreement, which may have implications for trade and investment in participating AfCFTA State Parties.

Source: Original reporting via AfCFTA Secretariat