EAC businesses not ready for continental free trade area – Experts

September 2, 2021 The Independent 0 Comments

Business leaders and experts have cast doubt on whether the East African Community will benefit from the African Continental Free Trade Area, AfCFTA, that took effect January 1 this year.

The AfCFTA is a trading arrangement supported by 54 African countries to create a single market, deepening the economic integration of the continent, and aiding the movement of capital and people, among others facilitating investment.

At least half of the countries have ratified the agreement. However, there are fears by some countries that are less advanced economically than others, of failing to benefit from the arrangement, the reason why many have not yet ratified it. Read More.

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