AFRICA FREE TRADE AREA WEBINAR - OPPORTUNITIES FOR SOUTH AFRICAN BUSINESS

Progressive Business Forum hosted a webinar focusing on trade in the continent. The African Continental Free Trade Area (AfCFTA), established by the Kigali Declaration in March 2018, is made up of 54 African countries, creating a single market of about 1.3 billion people, establishing a single super market for goods and services, which will strengthen trade and inter-African investment, making the AfCFTA the world’s largest free trade area. By facilitating the movement of goods and services among African countries, AfCFTA will create opportunities to accelerate intra-Africa trade, grow local businesses, create jobs and increase infrastructure development on the continent.

The free trade agreement has the potential to be a game changer for the continent on all levels. It will act as a catalyst for economic growth and stands to benefit entrepreneurs, including medium-to-small businesses. The AfCFTA presents perhaps the greatest opportunity for Africa to fulfil its aspiration of a united, integrated and prosperous continent.

The Secretary-General of the Secretariat of the AfCFTA, His Excellency Wamkele Mene (a South African), spoke about the role of the Secretariat in the establishment of this significant Free Trade Area, and senior officials from the South African Department of Trade, Industry and Competition (DTIC), detail the status of the negotiations around the treaty and of the potential opportunities and benefits to South African business.


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