How a single market would transform Africa’s economy


Africa is charting a new path towards a single continental market – and it’s going to be an economic revolution.

Nigeria’s president, Muhammadu Buhari, reasserted the resolve of the African leaders during the recently-concluded 30th African Union Summit, where he said: “We must push ahead to speedily establish the Continental Free Trade Area (CFTA), which will make Africa more integrated, united and prosperous.”

But what is the CFTA, and how will a single market solve Africa’s economic ills?

According to the African Union, the CFTA is a project to bring together all African countries – comprising 1.2 billion people and a combined GDP of over $3.4 trillion – under a single continental market for goods and services, including free movement of businesspeople and…

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