Though the implementation of the African Continental Free Trade Agreement (AfCFTA) promises to transform the economy of Africa, the objective will not be fully achieved if the opportunities offered by the deal are not fully explored.
![](https://thenigerialawyer.com/wp-content/uploads/2026/09/NBBSPIDEL.png")
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
The African Development Bank (AfDB) made this known as it prepares to hold a virtual conference this week to address the issue.
The theme of the conference scheduled to hold on March 24 is “Implementing the AfCFTA: The Need for Deepening Private Sector Engagement and Commitment Confirmation.”
AfDB noted that full implementation of the AfCFTA will contribute to building Africa’s structural transformation and will reshape markets and economies across the region.
“However, no matter how well grounded the AfCFTA objectives are, they will remain elusive if business in Africa is unable to take full advantage of the opportunities offered by the AfCFTA, in terms of trade and investment,” it said.
The Bank noted that it is therefore critical that the private sector is effectively engaged in the implementation process, with the active support of governments, the African Union (AU) and development partners.
“So far, indications are that the private sector has not been adequately engaged. The process going forward must be more inclusive.
“Given this imperative and with a view to stimulate debate and further propel action on the ground, the session will discuss the main impediments that are affecting the low participation of the private sector in the AfCFTA and showcase good practices in trade policy making and in building productive capacities,” AfDB disclosed.
The Bank noted that the impact of the COVID-19 pandemic on Africa’s productive sector and efforts towards recovery and building back better will form the overall backdrop to the discussions.
Since January 1, 2021, the African Continental Free Trade Area (AfCFTA) is operational, creating a new trade dynamic on the continent. Africa is now a single market of 1.3 billion consumers.
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation
______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
