The AfCFTA offers numerous benefits to businesses across Africa, including:
Market Expansion: Companies can access a market of over 1.2 billion people across 54 countries, vastly expanding their potential customer base. Reduced Tariffs: The agreement aims to progressively eliminate tariffs on 90% of goods, reducing the cost of cross-border trade. Increased Competitiveness: Businesses can achieve economies of scale and become more competitive internationally. Attracting Investment: A larger, more integrated market can attract foreign direct investment (FDI), fostering industrialization and infrastructure development.