Browsing: Quarz Africa

a section of African countries unveiled the African Continental Free Trade Agreement (AfCFTA) in March last year.

The agreement, which came into force in May 2019, can revitalize the African economic landscape over time and space, especially with the existing in many African countries.

The AfCTA comprises of 55 countries (with a combination of $2.5 trillion GDP) in Africa to a unified-single market. Despite African countries’ economies variation, still the free trade agreement comes at a greater moment when various regions in the continent, including Southern African Development Community (SADC ) and East Africa Community (EAC) are working to harmonize their economic affairs to boost trade, security, and industrialization.

The current economic and trading landscape

According to the African Development Bank’s (AfDB) African Outlook report of 2019, it showed the continents overall economic performance is gaining decent improvement, as as the GDP reached at an estimate of 3.5 per cent …