A new era for global business and investment in Africa

The Africa Continental Free Trade Area (AfCFTA) was established in 2018 to provide opportunities for the world to benefit from the continent’s economies and businesses.

A new report from the World Economic Forum, AfCFTA Secretariat and Forum partners provides tools and strategies for leveraging the new trade area’s opportunities.

Four sectors – the automotive industry, agriculture and agro-processing, pharmaceuticals, and transportation and logistics – were analyzed in the report as they are expected to accelerate in production and trade volumes under the AfCFTA.

At a time of multiple, overlapping global challenges – from climate change to energy shocks to rising inflation and a cost-of-living crisis – the Africa Continental Free Trade Area (AfCFTA) offers promise not only for the region but for the world.

The AfCFTA, established in 2018, will create the world’s largest free trade area, bringing transformative change and tremendous opportunity to African economies and business environments. Its adoption and implementation will accelerate intra-African trade and develop regional and local value chains, creating new business dynamics that offer investors access to a population of 1.7 billion people with combined business and consumer spending reaching $6.7 billion by 2030.

Source : weforum.org/ For more details

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