African CEOs welcome AfCFTAPublished by: Andrew Mizner at 20/12/2021As the first year of the African Continental Free Trade Area comes to a close, chief executives from acro...As the first year of the African Continental Free Trade Area comes to a close, chief executives from across the continent have expressed confidence that they will reap benefits from increased intra-African trade if a few obstacles can be overcome. Founded in 2018, PAFTRAC was set up to advocate for the AfCFTA by private sector institutions including Afreximbank. African governments have taken note, with many countries identifying SMEs as key to diversifying and growing their economies, with AfCFTA a route to allowing those business to expand. “In order to fully reap the intended benefits, the AfCFTA must provide a basis for African SMEs to effectively participate in the integrated market. Research done by Afreximbank had showed that intra-African trade requires higher skill than trade with other regions, and Professor Utomi hoped that AfCFTA would make that easier.

Source: The North Africa Journal December 20, 2021 19:24 UTC