How ECOWAS crack impacts AFCFTA implementation

The recent withdrawal of Niger, Mali, and Burkina Faso from the Economic Community of West African States (ECOWAS) has raised concerns about the implications it may have on the African Continental Free Trade Area (AFCFTA). Bolaji Sofoluwe, an international trade expert and Group Managing Director of ETK Group, expressed his views on this development in a recent interview with CNBC Africa. With total trade volumes from the ECOWAS region amounting to $277.22 billion, the impact of this withdrawal on regional trade could be significant. Sofoluwe highlighted the challenges posed by the lack of clear guidelines regarding the withdrawal and the potential disruptions to trade infrastructure, payment settlements, and commodity markets. The implications of this move highlight the complexities of regional trade integration in Africa and the need for clarity and understanding to navigate potential challenges effectively. As the region grapples with these developments, stakeholders will need to closely monitor the situation to assess the full extent of the impact on trade and economic activities in the region.