Biennial Lecture and Dialogue of the Brown Capital Management Africa Forum

The AfCFTA is poised to transform Africa into the largest free trade zone in the world, connecting a market of more than 1.2 billion people and a combined GDP of $3.4 trillion (AfCFTA Secretariat). The agreement aims to boost intra-African trade and promote sustainable development across the continent by reducing tariff and non-tariff barriers, including customs delays and high trading costs, thus increasing competitiveness and resilience of African markets. Its impact will reach far beyond Africa into the global trade regime.

On January 1, 2021, trading commenced under the AfCFTA. Implementation of the agreement is ongoing. For example, in September 2021 the Pan-African Payment and Settlement System (PAPSS)—a tool to facilitate and simplify cross-border transactions—was rolled out, and as of October 2021, 38 of 54 signatories have ratified the agreement with three more countries preparing to do so soon.

This event will assess the significance and status of the AfCFTA; discuss key challenges in the road ahead; and, more importantly, highlight opportunities AfCFTA presents for Africa and its international partners to boost trade and investment and foster sustainable economic growth.