West Africa’s key economic sectors set to soar on AfCFTA’s full implementation

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The African Continental Free Trade Area (AfCFTA) has been hailed as a catalyst to immense economic development in Africa; a flagship project of the AU’s Agenda 2063, projected to boost intra-African trade, connect over 1.3B people across 55 countries with a combined GDP of about US$3.4 trillion.West Africa is one of the fastest growing regions in Africa and is the official headquarters of the AfCFTA, located in Accra, Ghana; which is among the countries that will commence trading soon. The region is comprised of sixteen countries which include: Burkina Faso, Benin, Togo, Nigeria, Ghana, Guinea, Mali, Cape Verde, Niger, Senegal, Sierra Leone, Gambia, Guinea-Bissau, Mauritania, Ivory Coast and Liberia. According to the 2020 World Bank Report, ’The African Continental Free Trade Area: Economic and Distributional Effects’; West Africa would see the biggest decline of an estimated 12 million people living in extreme poverty, which is a third of the total for all of Africa, upon the full implementation of AfCFTA, which commenced operations in January 2021. The launch of the AfCFTA to promote intra-African trade in 2018.Image Source-AU Inarguably many sectors are projected to benefit from the 90% reduction on tariffs trade pact. Africa is the continent of the future,

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