Unlock Africa’s economic potential through open trade

Recent tariff announcements have caused global market disruptions, prompting them to reduce dependence on single markets. This uncertainty has created opportunities for emerging markets, especially in Africa, to forge new relationships and strengthen their positions. Africa has a rare opportunity to forge its own path, anchored in open trade, ideas, innovations, and digital empowerment. The African Continental Free Trade Area (AfCFTA) has increased intra-continental trade, and the United Nations Economic Commission for Africa anticipates a 35% increase in intra-African trade by 2045. Despite AfCFTA's promise, significant barriers hinder robust intra-African trade, including fragmented payment systems, inconsistent regulatory frameworks, and complex cross-border logistics. Africa must be able to trade with itself quickly, affordably, and securely, and payments are trade's lifeblood. To achieve this, payment system interoperability, alignment across governments, and investment in physical infrastructure are necessary. These efforts will reduce the continent's dependency, making it easier for businesses to grow within Africa and beyond. Now is the time to double down on openness, not retreat from it, as Africa's future depends on it. By addressing these challenges, Africa can increase not just the volume but also the value of trades within Africa, building economic resilience for shared prosperity.