Bawumia launches ECA Price Watch Centre for Africa

Vice President Dr. Mahamudu Bawumia yesterday, launched the United Nations Economic Commission for Africa’s (ECA) Price Watch Centre for Africa in a virtual meeting.

The ECA Price Watch is an initiative aimed at developing a platform to provide information on prices and other related variables for all countries on the continent.

Dr Bawumia stressed on the importance of a mechanism for common price comparison and also called on African governments to invest in Information Commission and Techology infrastructure and digital data collection tools.

He urged the heads of national statistical offices to work with ECA in transforming their national statistical systems.

Dr Bawumia stated that it is his expectation and hope that the Price Watch Centre will mark the beginning of a new chapter in Africa’s trade, commerce and policy setting operations for greater pricing commonalities across the continent, particularly in the context of the Continental Free Trade project.

Earlier this month,ECA Urged African Countries to Harmonize Trade and Transport Regulations in the Fight against COVID-19.

They indicated that the role of digital solutions in the fight against the spread of COVID-19 along trade corridors must not be overlooked.

Contract tracing through electronic cargo tracking systems, electronic signatures and documents, and the use of mobile banking and payment systems, can help to support safe and efficient trade. In this respect, the upcoming AfCFTA negotiations on e-commerce should be utilized to fast-track digitization of procedures and systems so that Africa’s exporters are at lesser risk of losing access to markets in future crises

Paa Kweku Eshun

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