{"id":55969,"date":"2024-04-05T11:44:57","date_gmt":"2024-04-05T11:44:57","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/adesewa-olofinko-why-africa-needs-to-embrace-the-afcfta"},"modified":"2024-04-05T12:02:29","modified_gmt":"2024-04-05T12:02:29","slug":"adesewa-olofinko-why-africa-needs-to-embrace-the-afcfta","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/adesewa-olofinko-why-africa-needs-to-embrace-the-afcfta","title":{"rendered":"Adesewa Olofinko: Why Africa Needs to Embrace the AfCFTA"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>As an African Union media fellow, I recently visited the African Continental Free Trade Area (AfCFTA) headquarters and received a clear message: it\u2019s time for Africa to trade within one unified market. I had the opportunity to sit down with the Chief of Staff of the AfCFTA, Silver Ojakol, the Chief Technical Advisor on the African Continental Free Trade Area, Prudence Sebahizi, and the Director of Information and Communications for the AU, Leslie Richer. During our conversation, I realised the immense potential of the AfCFTA initiative for the average Nigerian in Lagos, the Ovambo community in Namibia, or the Zayanes small business owner in Morocco.<\/p>\n

Currently, Africa only trades about 20% of its goods and services internally. The AfCFTA aims to push this number to at least 50%. It would mean harnessing the power of our combined economies to create a continental market brimming with possibilities. Here are a few reasons every African should embrace the AfCFTA:<\/p>\n

Jobs<\/b><\/p>\n

Increased trade translates to a thriving business environment. More businesses mean more jobs, especially for Africa\u2019s growing young population. And this isn\u2019t just about big corporations; the African continental free trade area would empower small and medium-sized businesses that are in fact, the backbone of our economies.<\/p>\n

End to Reliance on Others<\/b><\/p>\n

Africa is the world\u2019s raw materials manager. We have everything on this continent \u2014 from shiny diamonds to enough farmland to feed a small planet (literally, 60% of arable land), yet we often rely on others to turn those resources into finished products. The AfCFTA is our chance to create our value chains, become self-sufficient, and less dependent on fluctuating global prices. We can even start exporting finished goods, like intricately carved furniture made from African wood like the Teak (Kiaat) in Angola, or the Iroko in Nigeria.<\/p>\n

A United Front<\/b><\/p>\n

Forget \u201cWakanda Forever\u201d for a minute and let\u2019s make it \u201cOne African Market.\u201d As a united economic force, through the AfCFTA, Africa can negotiate better trade deals, and stop getting the short end of the stick. This is like our powerful bargaining chip on the world stage. It\u2019s time to embrace the integration that AfCFTA brings.<\/p>\n

Innovation<\/b><\/p>\n

A stronger, more interconnected Africa fosters innovation and knowledge sharing where we can unleash the creative African spirit. Imagine a continent where our vibrant fashion scene isn\u2019t just a local phenomenon but a global trendsetter! The world needs a little more Ankara flair and Kente swagger on all the runways in the world, and the AfCFTA can pave the way for that to happen.<\/p>\n

The AfCFTA is only as strong as its implementation. It\u2019s like a brand-new smartphone, even though it looks amazing, it won\u2019t work miracles if you leave it in the box. As Africans, it\u2019s time to hold our governments accountable. The African Continental Free Trade Area (AfCFTA) initiative doesn\u2019t stop at paperwork and policies; it means investing in Africa by Africa, growing our economies, speaking with one voice, creating an Africa without borders, and fostering economic integration plus increased cooperation on the continent.<\/p>\n

As it stands, 54 out of the 55 AU member states that have signed the agreement, and 47 have ratified it. This not only shows the determination of our beloved continent to unite and a collective desire to break free from the chains of fragmentation. Apart from government, as individuals, we need to be conscious of understanding where the products we consume come from. In your little corner, commit to supporting local and small businesses, and look out for the \u201cMade in Africa\u201d labels so we can get to the point where we consume what we produce and produce what we consume. The AfCFTA is our chance to rewrite Africa\u2019s economic future narrative. Intra-trade amongst African countries must now take centre stage. The goal is clear: we want to create a thriving, interconnected African economy that benefits all of its citizens.<\/p>\n

source:bellanaija<\/b><\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. As an African Union media fellow, I recently visited the African Continental Free Trade Area (AfCFTA) headquarters and received a clear message: it\u2019s time for Africa to trade within one unified market. 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