AfCFTA Key Facts - Creating one Africa market

Key Findings per World Bank Report
 
The African Continental Free Trade Agreement represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion.

 

Implementing AfCFTA would:

• Lift 30 million Africans out of extreme poverty and boost the incomes of nearly 68 million others who live on less than $5.50 a day;
• Boost Africa’s income by $450 billion by 2035 (a gain of 7%) while adding $76 billion to the income of the rest of the world.;
• Increase Africa’s exports by $560 billion, mostly in manufacturing;
• Spur larger wage gains for women (10.5 %) than for men (9.9%);
• Boost wages for both skilled and unskilled workers—10.3% for unskilled workers, and 9.8% for skilled workers;
• Tariff liberalisation is important, but by itself it would boost the continent’s income by just 0.2 %.

The AfCFTA sends a strong signal to the international investor community that Africa is open for business, based on a single rule-book for trade and investment.

H.E. WAMKELE MENE
Secretary General, AfCFTA Secretariat

General questions: info@jamiitrade.africa

 

Media enquiries: info@jamiitrade.africa

 

SOUTH AFRICA
C/O Perch, 3rd Floor 37, Bath Avenue, Rosebank, Johannesburg

 

KENYA
C/O AWJ Africa, Merchant Square, Riverside Drive, Nairobi

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