AfCFTA: A New Era for Global Business and Investment in Africa
18 January 2023
Officially launched in 2021, the African Continental Free Trade Area (AfCFTA) creates a single market projected to grow to 1.7 billion people and $6.7 trillion in consumer and business spending by 2030. The benefits to African countries and to business success under the free trade area arise from the private sector understanding, recognizing and acting on the initiative’s value. This report is important for global businesses that are serious about doing business in Africa because it lays out the value of the unique opportunities available and examines how to capitalize on them as economies evolve with and transition to a more integrated regional market. The report aims to provide a pathway for global businesses and investors to understand the biggest trends, opportunities and strategies to successfully invest and achieve high returns in Africa, developing local, subregional and continental value chains and accelerating industrialization, all of which go hand in hand with the success of the AfCFTA. To do so, it uses the work of Landry Signé (including his book Unlocking Africa’s Business Potential7 and his forthcoming work Africa’s Fourth Industrial Revolution) and that of the AfCFTA Secretariat, and cites illustrative cases from numerous multinational corporations and institutions.