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8 African countries that drawing away from European influence by trading under African regulations

  • AFCFTA is an African organization that aims at boosting trade within the continent 
  • AFCFTA is one of the 13 flagship projects of Agenda 2063:The Africa We Want, of the African Union.
  • 8 countries so far have begun to operate under this initiative

The African Union, much like the European Union is a continental governing body, that oversees the affairs of African countries, and fosters cooperation.

According to its manifesto, the fundamental aim of this organization is to defend the sovereignty, territorial integrity, and independence of its Member States; Accelerate the political and socio-economic integration of the continent; Promote and protect common African positions on issues of interest to the continent and its peoples.

One way this has been achieved is through the creation of the African Continental Free Trade Area (AFCFTA). AFCFTA is one of the 13 flagship projects of Agenda 2063:The Africa We Want, of the African Union.

This initiative was founded to eliminate barriers to trade in Africa, and significantly boost intra-Africa trade, particularly trade-in value.

Drawing inspiration from the European Union Free Trade which has fostered economic growth in the entire European continent, AFCFTA also wishes to maximize the potential of African Trade and create policies that reduce tariffs and increase returns.

AFCFTA was created in Kigali, Rwanda on 21 March 2018, where 44 countries signed the AFCFTA, 47 signed the Kigali Declaration, and 30 signed the Protocol on Free Movement of People.

AFCFTA was slated to be launched in phases and according to a recent report, the development is slowly but surely coming to fruition.

The launch of the Guided Trading Initiative was held on October 7, 2022, in Accra, Ghana. There, AfCFTA Secretary General Wamkele Mene noted that some countries have been exceptional in showing readiness to start trading under the AfCFTA.

Below are the 8 countries he listed

  1. Egypt 
  2. Kenya
  3. Ghana 
  4. Rwanda 
  5. Tanzania 
  6. Cameroon
  7. Mauritius 
  8. Tunisia 

Much like the goal of the AU itself, trading under this body would accelerate the “economic integration of the continent and coordinate and harmonize the policies between the existing and future Regional economic communities.”

Sarah

Content contributor at AFAL [African Alert]. Sarah is a passionate copywriter who stalks celebrities all day.

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