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Business News of Saturday, 1 February 2025

    

Source: www.ghanawebbers.com

AfCFTA to make Africa globally competitive in 30 years – H.E. Wamkele Mene

H.E. Wamkele Mene H.E. Wamkele Mene

AfCFTA Secretary-General H.E. Wamkele Mene has projected that Africa will emerge as a highly competitive global player within the next 30 years, driven by the successful implementation of the AfCFTA trade pact.

Speaking on the third day of the African Prosperity Dialogues 2025, he emphasized the need for African governments to eliminate trade barriers that hinder the free movement of goods and services.

Mene highlighted that reducing tariffs and addressing regulatory challenges will create a more integrated African economy. The AfCFTA, which connects 1.3 billion people across 55 nations with a combined GDP of $3.4 trillion, is expected to lift 30 million people out of extreme poverty.

Experts believe its full implementation will transform regional markets, enhance economic growth, and boost Africa’s services, manufacturing, and natural resource sectors.