Capacity building needed to implement AfCFTA

Abstract

Following the historic signing of the African Continental Free Trade Agreement (AfCFTA) in Kigali, Rwanda in March this year, the African Capacity Building Foundation (ACBF) is calling on African nations to bolster their capacities in readiness for implementation of the ambitious plan. During the event Albert Muchanga, the African Union’s Trade and Industry Commissioner asked ACBF to assist his organization in designing a model that would member countries unlock significant revenue that could arise from removing obstacles to intra-African commerce. He remarked, “Through cross border trade within our continent the AfCFTA stands to unlock some $60bn if it is implemented well.” Reiterating on the need to priorities capacity enhancement and skills transfer, Professor Nnadozie said that it is imperative for Africa’s public sector to engage in continuous upskilling to address the challenges posed by the agreement. ‘The active participation of the private sector and Diaspora Africans are crucial in making AfCFTA a reality because they are a source of talent and can often possess the skills and hard-earned experience related to international trade matters.’