Untapped Potential: Africa’s Informal Cross-Border Trade
- October 9, 2019
- Posted by: ADRES Group
Overtime, outdated and overly bureaucratic border clearance processes imposed by customs and other agencies are now seen as posing greater barriers to trade than tariffs do. Cumbersome systems, procedures and poor infrastructure both increase transaction cost and lengthen delay to clearance of imports, exports and the transit goods. This has led to the thriving of the Informal Cross-Border Trade (ICBT), which accounts for about 43% of income to Africa’s population.