The Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has disclosed that intra-African trade has reached $230 billion, with the continental trade bloc targeting $250 billion in trade volume by the end of the year as implementation of the landmark agreement gathers momentum across the continent.
Speaking during a panel session at the second day of the Invest Lagos 3.0 conference, Mene said the growth in trade among African countries reflects the increasing adoption of the AfCFTA framework, noting that 50 countries are currently implementing the agreement and that all protocols underpinning the pact have been concluded.
According to him, Africa must intensify efforts to deepen trade within the continent amid growing global economic uncertainties and shrinking opportunities in traditional export markets.
“Many African countries have lost market share in key international markets and face increasing trade barriers. We have to build a strong domestic market within Africa because our future growth lies here on the continent,” he said.
(Source: Leadership)
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