AU targets 30 countries to ratify AfCTA by December

The African Union (AU) is making significant strides in garnering support for the African Continental Free Trade Area (AfCTA) agreement, with a focus on engaging the private sector in the implementation process. During a recent visit to various African cities including Accra, Abidjan, and Dakar, Commissioner Michanga noted that there is a growing interest from the private sector to actively participate in discussions surrounding the AfCTA. This engagement is crucial for the success of the agreement, as it will be the individuals involved in cross-border trade who will breathe life into its framework. Speaking about the feedback received during the meetings, Commissioner Michanga emphasized the need for a comprehensive educational campaign to inform stakeholders about the details, protocols, and benefits of the AfCTA. While some concerns about increased competition were raised, the primary focus was on understanding how businesses can optimize the agreement's potential. The sessions also highlighted the importance of creating a single market in Africa, which will unlock new opportunities and expand the horizons for businesses beyond national borders. One of the key takeaways from the engagements was the commitment of participants to further discussions at the local level. Several individuals expressed their intention to engage with their respective parliaments to advocate for a successful implementation of the AfCTA. This proactive approach is a promising sign that the awareness and understanding of the agreement are growing among key stakeholders in various African countries. The AU has set an ambitious target of having 30 countries ratify the AfCTA by December, signaling a strong momentum towards establishing a unified and prosperous African market. With increasing buy-in from the private sector and a proactive stance from local participants, the prospects for the successful implementation of the AfCTA are looking brighter than ever.