The African Continental Free Trade Area (AfCFTA) seeks to raise intra-African trade from the current 16% to over 50% by 2030, according to the Economic Commission for Africa. Backed by Afreximbank, the plan focuses on customs digitalization, industrial growth, and greater access for SMEs, particularly women- and youth-led enterprises, to the continent’s $3.4 trillion market, said Wamkele Mene, AfCFTA Secretary-General.
