Preparedness of Local Business Participating in the AFCFTA Agreement Implementation in Ghana

In 2012, at the 18th session of the African Union (AU) from 29–30 January in Addis Ababa, Ethiopia, African Heads of State and Government recognized that ‘the promotion of intra-African trade is a fundamental factor for sustainable economic development, employment generation and effective integration of Africa into the global economy’. The initial and subsequent deliberations culminated in the establishment of the African Continental Free Trade Area (AfCFTA). The Agreement, which will become potentially the largest free trade area in the world when fully implemented was signed by 44 out of the total of 55 African countries in Kigali, Rwanda on 21 March 2018, at the 10th Extraordinary Summit of the African Union. The Agreement was however, officially entered into force on 30 May 2019 and establishes a free trade area across the African continent to promote trade and manufacturing with the rippling effect of contributing to the reduction in the number of people living in extreme poverty by 30 million people and people living in moderate poverty by 68 million by the year 2035. On 1 January 2021, Africa officially started trading under the African Continental Free Trade Area (AfCFTA) Agreement. The general objective of the study was to assess the general preparedness of local businesses participating in the AfCFTA agreement implementation in Ghana. Specifically, the study sought to: Assess the level of implementation of the AfCFTA in Ghana; Assess the readiness/preparedness of local business in taking advantage of the AfCFTA; Investigate Ghanaian local businesses’ ability and responsiveness in meeting the AfCFTA Agreement’s protocols; and to make recommendations.