The AfCFTA as a Catalyst for Africa’s Global Economic Repositioning

On May 30, 2019, the agreement establishing the African Continental Free Trade Area (AfCFTA) entered into force after 24 member states had deposited their instruments of ratification. The policy aims to turn the fortunes of the African continent around through a free market economic initiative. Presently, moving around and doing business in Africa is a very difficult exercise. To implement AfCFTA successfully, the chairperson of the African Union Commission, national governments, and other stakeholders must work on the ease of movement within the continent, establish a joint security organization, and invest in modern transportation systems.

Traveling within the continent is difficult for African passport holders compared to other developed continents. According to a 2023 report by the African Development Bank, a visa is still required in 46 percent of travel scenarios on the continent.

To read more, check the full article on Business Day.

Photo by Nathan Dumlao via Unsplash.

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