AfCFTA Scoop Issue 33

Hot Topic: AfCFTA Success- Projections versus Reality?

During the AfreximBank Annual Meetings held in the Bahamas, key discussions emerged around the potential of the AfCFTA. AfCFTA Secretary General, Wamkele Mene, highlighted the long-term nature of reaping benefits from the agreement, drawing parallels with the European Union. Conversely, Aliko Dangote, Africa's wealthiest individual, emphasized the need for a more expedited approach, citing the rapid pace of modern times. Dangote stressed the importance of optimizing regional markets and overcoming barriers like freedom of movement and trade facilitation. He elaborated on how the AfCFTA could provide smaller economies with opportunities by creating new markets. Dangote also highlighted the necessity of dismantling perceptions hindering intra-African trade, exemplifying the inefficiency of routing products through external markets. Therefore, we need to harness the technologies and resources at our exposal as Africa to ensure we reap the benefits of the AfCFTA in the foreseeable future.

As always, we are happy to plug you into the latest AfCFTA knowledge:

Download the Afreximbank 2024 Africa Trade and Economic Outlook Report.?

Watch: The Seatini Uganda session themed? From Paper to Action - Assessing Readiness to Trade under the AfCFTA, hosted during the East African Civil Society Summit which ran from the 18th - 21st of June in Arusha, Tanzania.

Read this article by Chiamaka Adinnu on how the AfCFTA could reposition Africa’s Agriculture sector.?

Please join us for an interactive Q & A session with Jacquiline Pimer and Brice Adou to round up our May/June AfCFTA Reading Club session. Get up to speed with the report in focus and have your questions ready!

Till Next Week,

DevDispatch Team