Summary of The Largest Free Trade Deal in Nearly a Quarter-Century Seeks to Make Africa a Single Market

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Writing for Fortune magazine, journalist David Meyer outlines how the new $2 trillion African Continental Free Trade Agreement (AfCFTA) will modernize its member states, make them more economically competitive, and provide a wealth of opportunities for citizens and foreign investors alike. Meyer also identifies potential obstacles, suggests how they might be overcome and contextualizes AfCFTA within global trends. If you’re interested in trade policy, regional ventures, or current events, Meyer’s pithy analysis is for you. 

About the Author

David Meyer is a freelance technology reporter. 

 

Summary

The African Continental Free Trade Agreement (AfCFTA) took effect for ratified member states on May 30, 2019.

Africa is bucking current global moves against free trade. On May 30, 2019, the African Continental Free Trade Agreement (AfCFTA), the centerpiece of the African Union’s (AU) Agenda 2063 development plan, came into effect upon gaining the 22nd country’s ratification. A year earlier, in March 2018, Rwandan president and AU chairman Paul Kagame was responsible convincing most of Africa to join the AfCFTA. Five years in the making, the economic agreement now includes all 55 African countries except Benin, Eritrea, and Nigeria. If...


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