The ratification of African Continental Free Trade Area (AfCTA) gives African Countries potential to transform and reach a higher level of diversification and competitiveness. The successful implementation of the African Continental Free Trade Area, the growing middle class, the emerging consumer market, the increased use of financial services and technology, and the performance of dynamic private entrepreneurs will all be drivers of export diversification and sustainable economic growth in Africa. Additionally, there are new avenues and actors that African countries can exploit to strengthen forward and backward linkages, create inter-sectoral linkages with financial services and foster structural change.

Read more: https://unctad.org/system/files/official-document/aldcafrica2022_en.pdf