Leveraging the African Continental Free Trade Area: towards the deepened integration of Africa through inclusive and green industrialization

Abstract

The African Continental Free Trade Area (AfCFTA) represents a transformative agreement aimed at fostering economic integration across Africa. Signed by 54 of the 55 African Union member states, the AfCFTA seeks to create a unified market for goods and services, enhance intra-African trade, and promote sustainable industrialization. This report highlights the strategic objectives of the AfCFTA, including the promotion of inclusive economic growth, gender equality, and the development of regional value chains. It emphasizes the importance of leveraging the AfCFTA to address challenges posed by climate change and to facilitate green industrialization. The report also discusses the potential of the AfCFTA to drive economic resilience, particularly in the wake of global disruptions such as the COVID-19 pandemic and geopolitical tensions. Key recommendations include the need for coordinated efforts among governments, the private sector, and civil society to implement the AfCFTA effectively, with a focus on inclusivity and sustainability. The report concludes that the successful operationalization of the AfCFTA can significantly enhance Africa's economic landscape, providing opportunities for growth and development while addressing environmental challenges.