African Continental Free Trade

African nations have a significant opportunity to lift 30 million people out of extreme poverty and to increase the incomes of 68 million others who survive on less than $5.50 per day thanks to the African Continental Free Trade Area (AfCFTA).
Of the $450 billion in potential income gains, $292 billion would be driven by trade facilitation measures that reduce red tape and streamline customs processes after the implementation of AfCFTA.
The AfCFTA’s implementation would aid in bringing about the kind of extensive reforms required to boost long-term growth in African nations.
According to the number of participating nations, the African Continental Free Trade Area (AfCFTA) agreement will establish the largest free trade area in the world. The agreement links 1.3 billion people in 55 countries and generates a combined gross domestic product.