Africa’s economic growth has fuelled the continent’s 54 nations to look for ways to enhance trade amongst themselves, as well as growing exports outside of Africa.
That led to the formation of the African Union and to the launch of the African Continental Free Trade Area (AfCFTA) that came into force on May 30, 2019 and will be effective as of July 2020.
All but Eritrea have signed the AfCFTA.
The group of nations chose to locate the AfCFTA Secretariat in in Accra, the capital of Ghana, and on February 9, 2020 named Wamkele Mene (South Africa) as the new secretary-general of the AfCFTA.
The AfCFTA forms a broader part of efforts to remove tariffs on up to 90 percent of intercontinental trade.
Pitney Bowes reveals stats on the explosive growth
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