AfCFTA lauds progress in economic integration
Progress
Okeoghene Akubuike
Mr Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, has lauded the progress made toward realising the vision of Africa’s founding fathers for economic integration.
Speaking at the 32nd Afreximbank Annual Meetings (AAM) 2025 in Abuja, Mene underscored the vital role of economic integration in shaping the continent’s future.
The meeting themed, “Realising the Vision of the African Founders: Progress Towards Africa’s Trade and Economic Integration,” brought together leaders and stakeholders to assess the gains and challenges in Africa’s economic landscape.
Mene commended Prof. Benedict Oramah, President and Chairman of Afreximbank, for his leadership in supporting Africa’s economic development.
He noted that Afreximbank had been instrumental to the success of AfCFTA, a landmark initiative to establish a single, integrated market for goods and services across Africa.
He described the establishment and operationalisation of the AfCFTA as one of the most ambitious and transformative milestones toward continental integration since the independence era.
Mene outlined several areas of progress: noting 49 countries had ratified the AfCFTA Agreement, representing 90.7 per cent of signatories.
“Tariff reductions and simplified customs procedures are easing trade. Meaningful trade is underway, with businesses benefiting from reduced or zero tariffs.
“Progress is also evident in services trade, including finance, retail, telecommunications, and tourism.”
He noted the adoption of key protocols covering investment, intellectual property, competition policy, digital trade, and the inclusion of women and youth in trade.
Mene emphasised that the AfCFTA was more than a trade agreement; a framework for inclusive and sustainable growth, especially for small-scale traders, women, and youth.
He said results already included diversification of export destinations, reduced trade barriers, increased economic activity, job creation, and SME growth. However, challenges remained.
Mene called for bold investments in infrastructure to better connect African markets and enable freer movement of goods and people.
He also highlighted the need to ratify protocols on free movement of persons and the right of establishment.
He ended by stressing the importance of sustained political will, public-private partnerships, and inclusive stakeholder engagement.
“We dare not fail in this historic mission to integrate and transform Africa.
“We want African-made goods and services flowing freely across borders, generating jobs, stimulating industries, and improving lives.
“We owe it to our 1.4 billion fellow Africans to build a strong, self-reliant Africa ready to claim its place in the global economy,” Mene said.(NAN)(www.nannews.ng)
Edited by Abiemwense Moru
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