African heads of state and government have reached a landmark agreement on a revised timeline for the full implementation of the African Continental Free Trade Area (AfCFTA) at the African Union Summit in Addis Ababa. The agreement includes finalised protocols on trade in services, investment, intellectual property, and digital trade.
AU Commission Chairperson Moussa Faki Mahamat hailed the agreement as "the most significant step toward African economic integration since the founding of the Organisation of African Unity." The AfCFTA, which formally began operations in January 2021, has struggled with implementation due to unresolved protocol negotiations.
Ghana, which hosts the AfCFTA Secretariat in Accra, played a central role in brokering the deal. President Mahama said the agreement would create millions of jobs and reduce Africa's dependence on trade with non-African partners. "The era of Africa trading more with Europe than with itself must come to an end," he told fellow leaders.
The World Bank estimates that full implementation of the AfCFTA could boost intra-African trade by 81% and lift 30 million people out of extreme poverty by 2035.
