AfCFTA will be a blessing for African business

A free trade agreement for African countries is being lauded as a boost for African business.

It added that AfCFTA would unite Africa’s 1.3 billion people who will have more agency and independence.

What will The African Continental Free Trade Agreement mean for business

The African Continental Free Trade Agreement (AfCFTA) agreement will formalise trade between 54 African countries and help trade in the continent, according to this City Press report.

The free trade of goods, services and capital that AfCFTA will bring will certainly be a boon for Africa.

According to the United Nations Economic Commission for Africa estimates it will increase trade by 52% by 2022 if all countries were party to the agreement, according to an Aljazeera report.

Benefits for businesses and consumers will include enhanced regional and continental integration and improved industrialisation. But Africa also has to be ready to capitalise on the opportunities created by the Fourth Industrial Revolution with skills development.

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