The African Union (AU) recently launched the much-anticipated African Continental Free Trade Area (AfCFTA).
AfCTA seeks to ramp up and promote intra-Africa trade thereby reverse the current status quo.
Currently, African nations do more business with countries abroad than with fellow countries on the continent and regional blocs.
Launched on 1 January 2021, AfCTA also aims to strengthen the continent’s collective voice and policy position in global trade deliberations.
The general view is that a market of 1.2 billion people will have more impact than any single national economy on the continent.