AfCFTA Can Unite 1.4 Billion Africans for Trade Growth

Prominent pan-African corporate leaders, including MTN Group Chairman Mcebisi Jonas and MTN Ghana Board Chairman Dr. Ishmael Yamson, have called for an urgent end to market fragmentation in Africa. They warn that the continent will remain globally competitive only in theory until artificial trade barriers are dismantled.

Yamson expressed frustration over regulatory silos that hinder cross-border enterprise, arguing that treating sovereign markets as independent pockets cripples African businesses. He emphasized that African nations underestimate the power of collective market weight.

The African Continental Free Trade Area (AfCFTA) represents a market of 1.4 billion people with a combined GDP of approximately $3.4 trillion. However, intra-African trade remains low, between 15% and 21% of total trade volume, compared to nearly 60% for intra-Asian trade and over 68% for intra-European trade.

The leaders advocate for a shift in mindset among political leaders to facilitate immediate economic integration.