Browsing: Political unrest

Last year, the African Continental Free Trade Area (AfCFTA) launched opening up the continent’s 1.3 billion people-strong market. The AfCFTA focuses on increasing intra-African trade which is very low on the continent.  

Trade between African countries is limited and is worsened by language barriers and the lack of harmonised payment settlement systems. These challenges are some of the hurdles that the AfCFTA is meant to address. 

In addition, the treaty proposes more value addition of resources produced in Africa before exporting them outside the continent. The extractives industry in Africa has suffered immensely from the sale of raw products which denies the continent the opportunity to create jobs that could help address the incessant poverty. 

Africa is emerging from the pandemic-induced recession.