Multinational - The African Continental Free Trade Area (AfCFTA) Project

Fragmentation of African economies not only limits their attractiveness as investment destinations, but also their ability to enhance competitiveness, promote value-added, and increase intra-African trade. These remain crucial for a continent that aims for industrialization and sustainable prosperity but is adversely impacted by global shocks –COVID-19 and the war in Ukraine being the latest shocks. The signing of the Agreement establishing the African Continental Free Trade Area (AfCFTA) by 54 African countries is a key milestone in the regional integration agenda undertaking in Africa, in line with Agenda 2063and some of the SDGs. However, strengthening the capacity of AfCFTA state parties, especially the Least Developed Countries (LDCs) and often fragile economies to take ownership and fully benefit from the AfCFTA remains a priority.