The AfCFTA presents growth opportunities for manufacturing and digital finance in Africa
- What opportunities does the AfCFTA present for manufacturing, financial services and logistics companies?
- How can businesses benefit from the progress of the AfCFTA?
Africa has experienced a surge in internet activity and growth in its digital economy.
In Sub-Saharan Africa, the proportion of people covered by a 3G network increased from slightly above 50% to over 80% between 2015 and 2023, according to data from the ITU. This was the most significant increase globally, even though base effects explain some of the magnitude. North Africa (paired with Western Asia) also experienced an almost 20 percentage point increase.
Buoyed by the increase in internet activity, Africa’s digital market has become attractive and is pulling in increased investment to support the development of new high-growth internet-enabled businesses.
At the same time, an increased awareness of the need for more intra-continental trade has led to the creation of the African Continental Free Trade Area (AfCFTA). The AfCFTA, designed to ease, promote and enable trade flows within the African continent at scale, will be the largest free
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