At last, AfCFTA Begins Operation

02 Jan At last, AfCFTA Begins Operation

African countries began officially trading under a new continent-wide free trade area yesterday, after months of delays caused by the global coronavirus pandemic.

“There is a new Africa emerging with a sense of urgency and purpose and an aspiration to become self-reliant,” Ghana’s President Nana Akufo-Addo said during an online launch ceremony.

The African Continental Free Trade Area (AfCFTA) aims to bring together 1.3 billion people in a $3.4 trillion economic bloc that will be the largest free trade area since the establishment of the World Trade Organization.

Every African country except Eritrea has signed on to the AfCFTA framework agreement, and 34 have ratified but despite the shared optimism, experts believe there are fundamental challenges to be urgently addressed for a smooth sail.