How Africa can win from the omnicrisis

Patrick Smith
By Patrick Smith
Editor-in-Chief of The Africa Report.

Posted on Monday, 13 June 2022 17:04, updated on Tuesday, 14 June 2022 04:17

Adria Fruitos for The Africa Report.

Beyond planning national economic recoveries as they exited the pandemic, policymakers were also focusing on ways to maximise the value of the African Continental Free Trade Area to diversify regional economies and break free of the dependence on unprocessed commodity exports.

Enthusiasts for the AfCFTA, such as the chief economist of Afreximbank, Hippolyte Fofack, argue that the free-trade area would boost foreign investment in the region by a quarter and propel many economies to move from their roots in natural-resource exploitation towards labour-intensive manufacturing.