The AfCFTA gives Africa an opportunity to confront its trade and economic development challenges such as market fragmentation, small-scale national economies, a narrow export base, caused by shallow manufacturing capacity, and underdeveloped industrial regional value chains.
AfCFTA is one of the tools for making a fundamental structural transformation for Africa’s economy and placing it on the path of long-term industrial development. AfCFTA will also strengthen the continent’s bargaining position when engaging in trade negotiations with economic powers such as China and the European Union. This implies that trade will become more favourable for African products, and now when Africa partners with the likes of China and other countries, focus should be on capital supply as well as industrialisation.
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