He urged African businesses to fully embrace the trade agreement as a means to foster economic development across the continent.

Ramaphosa stressed that the AfCFTA presents a unique opportunity for Africa to integrate its economies and unlock a market of 1.4 billion people, with a combined gross domestic product of $3.4 trillion. He called on the private sector to actively participate in the agreement, as their involvement is crucial to driving industrial growth, creating jobs, and strengthening Africa’s position in the global economy.

“We’d like the private sector to embrace it, to participate in it,” Ramaphosa stated. “What it does is provide the African continent with the opportunity to integrate and unlock new economic possibilities.”

Since its launch in 2021, the AfCFTA has aimed to reduce trade barriers, ease the movement of goods and services, and create a unified market that can stimulate regional commerce.

--ChannelAfrica--