African Finance Ministers Push for Immediate AfCFTA Implementation to Drive Trade and Economic Growth

The 57th session of the Conference of African Ministers of Finance, Planning, and Economic Development, held in Addis Ababa, Ethiopia, emphasized the urgent need for the full-scale implementation of the African Continental Free Trade Area (AfCFTA). The conference, which focused on advancing the AfCFTA agreement, brought together key policymakers and private sector leaders to discuss strategies for enhancing intra-African trade. The African Union’s (AU) goal is to create a single continental market to stimulate growth and economic transformation.

Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa (UNECA), stressed that AfCFTA’s successful implementation would lead to inclusive growth and resilience. He highlighted the need for market integration, infrastructure development, and industrialization to drive intra-African trade and economic expansion. The deal would see 90 percent of goods produced within Africa traded tariff-free, facilitating greater economic cooperation among African nations.

AfCFTA Secretariat Secretary General Wamkele Mene also urged immediate action, noting that global geopolitical instability, such as the war in Ukraine and conflicts in the Middle East, had created challenges for the continent’s growth. Mene emphasized the importance of strengthening investment platforms and regional value chains to fully unlock the AfCFTA’s potential. The agreement aims to shift African economies from raw material exporters to industrialized, value-added producers.

The African Tax Administration Forum (ATAF) also participated in the conference, highlighting the importance of tax reforms to sustain government revenues amidst tariff reductions under AfCFTA. ATAF called for harmonized tax systems across Africa to promote trade liberalization and maintain fiscal stability. Furthermore, it advocated for the adoption of digital tax solutions and enhanced tax administration practices to ensure long-term sustainable growth while advancing the continent’s economic integration.