Five new countries join the African Continental Free Trade Area Agreement

By professo

The African Continental Free Trade Area Agreement (AfCFTA) receives five new signatures, bringing the total countries to have signed at 49.

Burundi, Lesotho, Namibia, Sierra Leone, and South Africa have all demonstrated their commitment to the free trade bloc.

The AfCFTA, which can be operational once ratified by 22 countries, will be one of the largest free trade zones in the world.


It is anticipated that the bloc will increase intercontinental trade by as much as 52% due to the elimination of tariffs and non-tariff barriers.

Tariffs could be removed for up to 90% of goods and commodities – creating free access across the continent.

The five nations signed the agreement at the 31st Ordinary Session of the Africa Union General Assembly, which was themed on ‘Winning the Fight Against Corruption: A Sustainable Path to Africa’s Transformation.’

The assembly was held on 2 July in Nouakchott, the capital of Mauritania.


Featured Articles

SAP creates new EMEA region and announces new President

SAP has announced it has appointed a new President for a newly-created EMEA region, aiming to make the most of the opportunities of cloud and AI technology

How SAP is facilitating continuous business transformation

Technology giant SAP has expanded its portfolio with the acquisition of LeanIX, a leader in enterprise architecture management (EAM) software

Siemens and Microsoft: Driving cross-industry AI adoption

To help businesses achieve increased productivity, Siemens and Microsoft are deepening their partnership by showcasing the benefits of generative AI

Sustainability must become central to corporate strategy


The endless benefits of putting your people first

Leadership & Strategy

Working from anywhere: SAP uncovers secret life of employees

Human Capital