Luanda: The African Continental Free Trade Area (AfCFTA) has forecasted a volume of 230 billion US dollars in trade transactions by 2027, announced the organization's Secretary-General, Wamkele Mene, during a visit to Angola's northern Zaire province. This projection marks an anticipated increase of 10 billion US dollars compared to 2024, as revealed during his visit to the construction site of the future Fertilizer Industrial Complex in Soyo.

According to Angola Press News Agency, the AfCFTA Secretary-General indicated that the projected growth reflects the determination of more than 50 signatory countries of the agreement. He emphasized the significant contribution of the private sector in enhancing intra-continental trade. Despite advancements, challenges related to supporting infrastructure, logistics, and transport persist, necessitating efforts to address the historical fragmentation of the African market.

Focusing on Angola, Mene acknowledged the government's commitment to implementing the AfCFTA and underscored the vital role of the private sector in ensuring the success of this economic integration model. During his visit, he expressed satisfaction with the development of the Fertilizer Industrial Complex in Kintambi, highlighting its potential benefits not only for Angola but also for other African countries.

"I congratulate and encourage the initiative of the Opaia Group, which leads this project, for contributing to the fight against food insecurity in Africa and promoting the industrialization of the continent," Mene stated. He noted Africa's dependency on food imports and expressed hope that projects like this could alter this scenario in the medium and long term.

The Amufert project, a joint venture between the Opaia Group and Sonag¡s, with funding from Afreximbank, is valued at approximately 2.2 billion dollars. The complex will utilize natural gas and carbon dioxide capture to produce ammonia and granulated urea, with an estimated production capacity of 4,000 tons per day, translating to around 1.3 million tons of urea annually for both domestic use and export.

Additionally, the production of phosphate-based fertilizers is planned, with prospecting activities underway in the Mukula commune (Tomboco) and the Soyo municipality.