The African Continental Free Trade Area (AfCFTA) is moving forward with a stronger focus on inclusion and digitalization.
The AfCFTA Secretariat and the AfCFTA Policy Network (APN Group) signed a Memorandum of Understanding (MoU) to invest in three key areas:
- Women in Trade: This protocol helps women entrepreneurs overcome challenges and participate more fully in intra-African trade.
- Youth in Trade: This protocol ensures young Africans have a voice and can benefit from AfCFTA opportunities.
- Digital Integration: This focus area promotes using technology to streamline trade across the continent.
Investing in Africa’s Future
The MoU highlights a commitment to inclusive economic growth. Both protocols include action plans to deliver concrete results.
“By working together, we can address capacity limitations and funding gaps that hinder trade,” said Louis Yaw Afful, Executive Director of APN Group. “Building the capacity of stakeholders across Africa is crucial. We’ll develop training programs and support small and medium businesses (SMEs).”
Building a Prosperous Africa
Wamkele Keabetswe Mene, Secretary-General of the AfCFTA, emphasized the importance of these initiatives. “The AfCFTA is about empowering women and youth to drive Africa’s development,” he said. “This progress shows our commitment to an equitable and prosperous Africa.”
The AfCFTA Secretariat also plans to establish an AfCFTA Fund for Women and Youth. This fund will provide targeted financing, training, and technical assistance to support these vital protocols.
Landmark Trade Agreement
The AfCFTA is a game-changer, aiming to create a single market for goods and services across Africa. Launched in 2018, it has the potential to become the world’s largest free trade area, with a combined GDP exceeding $3 trillion and a population of 1.3 billion.
