There is much talk about the African Continental Free Trade Area (AfCFTA) recently launched by the African Union. The agreement seeks to tap into regional integration and create the world’s largest trading block. It will see the reduction of tariffs, remove trade barriers and reshape the economies of participating countries.
“When Africa trades with itself, Africa creates more value, it creates more jobs”
Vera Songwe, Under-Secretary-General at the United Nations, Executive Secretary of the United Nations Economic Commission for Africa
If successfully implemented, the agreement is expected to make Africa’s economies more competitive and mark a significant step forward towards eradicating poverty.