South Africa’s President Cyril Ramaphosa has called on the US Congress to approve an early and “sufficiently lengthy” extension of the Africa Growth and Opportunity Act (Agoa) to provide investors looking to take advantage of the scheme’s trade benefits with the certainty they need to “build new factories on the African continent”. Opening the Agoa Forum in Johannesburg on Friday, Ramaphosa also underlined the “great value” of retaining all beneficiary countries to support the development of regional value chains that could support industrialisation on the continent.
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