
A Landmark Agreement Reshaping Business Across the Continent
The African Continental Free Trade Area (AfCFTA) is transforming Africa’s economic landscape, creating the world’s largest free trade zone. Covering 1.4 billion people with a combined GDP of $3.4 trillion, the agreement is set to redefine intra-African trade and investment.
Officially launched in 2021, AfCFTA aims to eliminate tariffs on 90% of goods, easing cross-border trade and boosting economic integration. With intra-African trade currently at just 16%, significantly lower than Europe’s 60%, the agreement is expected to unlock immense growth opportunities by enhancing connectivity between African nations.
Small and medium-sized enterprises (SMEs) stand to gain the most, as the reduced trade barriers open new markets and value chains. Additionally, international investors are increasingly drawn to Africa’s expanding opportunities in manufacturing, agriculture, technology, and logistics.
Businesses across the continent are encouraged to adapt to the new trade environment by exploring market expansion, reducing operational costs, and fostering regional partnerships. Organisations such as MrExportToAfrica are assisting companies in navigating trade regulations and identifying high-growth sectors under the AfCFTA framework.
As Africa moves towards greater economic unity, the AfCFTA presents a unique opportunity for businesses to scale, innovate, and thrive in a more connected and competitive marketplace.
Source: MrExportToAfrica