African leaders have just signed a framework establishing the African Continental Free Trade Area (AfCFTA), the largest free-trade agreement since the creation of the World Trade Organisation (WTO).
The free-trade area aims to create a single market for goods and services in Africa. By 2030 the market size is expected to include 1.7-billion people with more than $6.7-trillion of cumulative consumer and business spending — that is if all African countries have joined the free-trade area by then. Ten countries, including SA and Nigeria, have yet to sign up.
The goal is to create a single continental market for goods and services, with free movement of business persons and investments. ….more