Making Sense of Africa Continental Freetrade Agreement

Vickie Remoe is in conversation with senior expert trade in Services in the Department of Trade and Industry at the African Union, Beatrice Chaytor. They discuss the benefits of the African Continental Freetrade Area for medium-size businesses across the continent. Three years ago the Africa union launched AfCFTA to create a more unified African market. AfCFTA top objectives are to facilitate inter African trade reduce tariffs, promote industrialization, sustainable growth, create jobs, and reduce poverty. So far the African Union 54 member states have signed the treaty, making AfCFTA the largest free trade area in the world by the number of participating countries. 

January 1st this year was the official first trading day under AfCFTA but to realize the benefit of AfCFTA we have a long way to go. While countries are still ratifying the agreement, AfCFTA potential impact on Africa's growth is undeniable according to the world bank it has the potential to lift 30 million Africans out of extreme poverty by 2035.

They talk about what needs to happen at the national and enterprise level to speed up AfCFTA's impact.

To listen to 'Tell Me Wantem' by Emmerson & Star Zee: https://bit.ly/3tD8Ln4