The African Continental Free Trade Area (AfCFTA) is a landmark trade agreement launched in 2021 among African Union (AU) member states, aiming to create a single continental market for goods and services. The agreement stems from deep-rooted trade barriers within the continent.

The Economic Benefits of the Agreement

Sectors of Promise

The African Continental Free Trade Area (AfCFTA) will significantly benefit several key sectors.

• Manufacturing output is projected to see a $56 billion increase in output, with intra-African exports rising by 25-50%.
• Agriculture is expected to boost trade by up to 49%, improving food security and reducing the continent’s $35 billion annual food import dependency.
• The services sector, contributing around 50% of Africa’s GDP, will gain from greater market access and reduced regulatory barriers.

Benefits to your Business