AfCFTA Set to Boost Africa’s Economy Significantly, UN Official Predicts

ADDIS ABABA: The African Continental Free Trade Area (AfCFTA) could dramatically increase intra-African trade and drive broader economic growth, said Claver Gatete, the UN Under-Secretary-General and Executive Secretary of the ECA, on Thursday.

According to Ethiopian News Agency, the AfCFTA is expected to enhance trade across essential sectors such as agriculture, industry, and services, with potential trade growth projected at up to 50% in some sectors by 2045. The initiative aims to consolidate Africa’s fragmented markets into a single market, potentially increasing the continent’s global economic stature and attracting significant foreign investment.