Africa’s New Landscape for Doing Business: The African Continental Free Trade Area

Joshua Yindenaba Abor (), Jephthah Owusu Osei () and Oluranti Doherty ()
Additional contact information
Joshua Yindenaba Abor: University of Ghana Business School
Jephthah Owusu Osei: Ministry of Municipal Affairs and Housing
Oluranti Doherty: African Export-Import Bank (Afreximbank)

Chapter Chapter 2 in The Palgrave Handbook of International Trade and Development in Africa, 2024, pp 19-33 from Springer

Abstract: Abstract The African Continental Free Trade Area (AfCFTA) is the product of the continent’s growing desire to become more self-sufficient. Intra-African trade is limited, and regional disparities are severe. This chapter discussed the potential benefits of the AfCFTA, including promoting economic growth, fostering industrialisation, improving infrastructure, strengthening regional integration and cooperation, boosting intra-African trade, growth of small and medium enterprises, improving formal trading by African women, and achieving Agenda 2030 of the Sustainable Development Goals (SDGs). It also identified key challenges that must be addressed to fully realise the potential benefits of the AfCFTA which include loss of revenue, high adjustment cost, intense competition, theft of intellectual property, and wide variation in the levels of development. Considering the potential that the AfCFTA is projected to provide for Africa, member nations need to prioritise the AfCFTA in their trade and foreign policies. Clearly, the future of doing business in Africa will depend largely on the successful implementation of the AfCFTA and other initiatives aimed at promoting economic integration and growth on the continent.

Keywords: African Continental Free Trade Area; Doing business; African new landscape; Intra-African trade (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-65715-3_2

Ordering information: This item can be ordered from
http://www.springer.com/9783031657153

DOI: 10.1007/978-3-031-65715-3_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().