Economic Commission for Africa says intra-African trade in agri-food, industry, and services sectors will increase by nearly 35 percent by 2045 through the African Continental Free Trade Agreement.
The Director of Regional Integration and Trade at ECA, Stephen Karingi says Africa’s private sector accounts for 80 percent of total production, two-thirds of investment, and three-quarters of credit, and employs 90 percent of the working-age population,”
The commission urged governments at all levels to fully and effectively implement the agreement for the projections to come to fruition.
He noted that Africa’s weak productive capacity and consequent excessive reliance on imports for essential products exposed it to external shocks such as the COVID-19 pandemic and the Russia-Ukraine war.