Africa’s free-trade deal will work if policy supports open markets but protects against cheap imports
Infrastructure developers must be able to engage media communities, the government, regulators and other key stakeholders
Kenyan MPs are currently debating a Bill to ratify the African Continental Free Trade Agreement (AfCFTA), a landmark trade treaty that was signed by 44 African countries in Kigali, Rwanda, in March. Like Kenya, several other African countries are also fast-tracking the process of ratifying the treaty, indicating that the political will needed to successfully implement the agreement exists. This is encouraging. Once in force, AfCFTA will create a single $3-trillion trade zone that will provide firms with duty-free access to 1.2-billion people across the continent. The agreement is seen as a critical step in boosting intra-African trade, investment, industrialisation and regional integration. Even more importantly, this landmark agreement will go a long way in creating an enabling environment for the critical need for accelerated job creation across the continent. However, AfCFTA requires the right set of policies to be successful. A policy framework that clearly supports open markets...
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