The monumental impact of the AfCFTA has only just begun; the long term potential for Africa as a whole and individual markets is slowly being revealed. The objective to transform the continent into a trade area where goods, services and capital can move freely across borders presents a wealth of opportunities with optimist growth supported by a rising middle-class and rapid urbanisation.
The agreement brings together 54 countries with a combined GDP valued at USD 3.4 trillion, with the World Bank forecasting intra-African trade to rise from 17% to 81% by 2035. It also presents a wealth of opportunities and optimist growth supported by a rising middle-class and rapid urbanisation.
While the trade agreement includes the entire continent, there is still a need to tailor market entry and growth strategies. The diversity in demographics, country and region specific behaviours, and government investment and private stakeholder engagement must all be considered if Swedish companies are going to make a sustainable, long-term impact in the market.
Listen to this podcast to get a deeper understanding of the details of the AfCFTA and what impact it is expected to have on key sectors and infrastructure development and what the best strategies are for both market entry and cross-country growth.
Host: Kristoffer Schjött-Quist