Intra-African commerce could reach 53% if the African Continental Free Trade Area was fully implemented, up from 18% currently.
The AfCFTA, which aims to create the world’s largest single market by progressively eliminating tariffs on most goods, came into force in May 2019. But major mobility and connectivity hurdles remain, the Mo Ibrahim Foundation noted: Only four countries — Mali, Niger, Rwanda, and São Tomé and Príncipe — have ratified the 2018 African Union’s Free Movement of Persons Protocol, for example. The report said AfCFTA implementation could grow the continent’s manufacturing sector by $1 trillion, generate income worth $470 billion, and create 14 million jobs by 2035.