Africa: The next frontier

Abstract

rica is far from being considered a unitary market. It comprises of 55 states, which tend to share similar market dynamics but equally differ significantly in how business is conducted. To address such disparities, which often frustrate

trade, African countries have been coalescing around regional trading blocks such as Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC), Southern African Development

Community (SADC) and Economic Community of West African States (ECOWAS).

Of course, the citizens of Africa await with

bated breath the expected benefits of

The African Continental Free Trade Area (AfCFTA), which was unveiled in 2021. AfCFTA, a brainchild of the African Union (AU), is expected to form the world’s largest free trade area connecting over 1.1 billion people across the African continent boosting intra-African trade once import duties

and non-tariff barriers are eliminated.