Summary of How a Single Market Would Transform Africa’s Economy

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African leaders are trying to create a Continental Free Trade Area (CFTA) for the unfettered exchange of goods and services among the continent’s nations. According to researcher Shakir Akorede, a single integrated market would vastly improve commerce in what is today the area with the world’s least amount of intraregional trade. The CFTA would bring greater opportunity to Africa’s 1.2 billion people, who already boast a total GDP of more than $3.4 trillion. getAbstract recommends this brief yet thoughtful overview of Africa’s efforts to improve the economic well-being of all of its citizens to executives and trade professionals.

In this summary, you will learn

  • What trade obstacles to economic growth Africa faces,
  • What structural reforms Africa’s leaders are pursuing to remove these barriers and
  • What trade initiatives are underway.
 

About the Author

Shakir Akorede is a writer, entrepreneur and foreign policy professional.

 

Summary

The African continent faces significant trade obstacles to economic growth. Different rule-making bodies and regulations hinder efficient commerce among its 54 nations. The proposed Continental Free Trade Area (CFTA) would remove these roadblocks by including all African countries in a unified marketplace that would facilitate the free exchange of goods and services and encourage cross-border investment and travel.


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