AfCFTA is a start, but private sector empowerment is needed to unlock full free trade benefits

May 23, 2022 AELEX Admin 0 Comments

At a time when global transport and logistics systems are being disrupted and trade wars are raging, relying on the rest of the world for essentials has proven to be a risky bet. Africa learned this the hard way during the Covid-19 pandemic, with just 11% of Africans being fully inoculated against the virus due to inequitable vaccine distribution. The world is realising this again with the war in Ukraine and its impact on the price of oil and food security.
For free trade to truly reach its full potential, it must be coupled with private sector investments that bridge the infrastructure and connectivity gap and give African businesses the tools and resources they need to compete in African markets. By promoting competition and attracting private capital, states will be able to develop transportation networks, bolster internet connectivity, and surf on the wave of digitalisation sweeping across Africa.

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