Data compiled by the African Development Bank (AfDB) reveals that Central Africa will be the biggest beneficiary of the African Continental Free Trade Area (AfCFTA). Director of research, Hanan Morsy, told a gathering of some 2000 ministers and private partnership concerns that converged on the island of Equatorial Guinea recently that AfCFTA member countries at the continent’s core could expect an increase of around 7% in real income. Prior to a recent research paper, “2019 African Economic Outlook”, it was generally felt that East Africa, the continent’s “star performer” and a focal point of Chinese investment in Africa, would derive the most in terms of increased yield. Instead the Outlook report, which was launched at the Malobo conference, showed that East Africa could expect around 4.2% in additional revenue once AfCFTA was in place. Niger minister Aïchatou Kané told delegates that the Economic Community of West African States (Ecowas) was well on its way to rolling out regional integration. One of the measures she said Ecowas was looking at launching within the next 12 months was a currency for the region. Apart from the regional benefits of AfCFTA, in which SADC appeared conspicuously absent, the conference pointed out that the continent as a whole could add 4.5% to its GDP through the relaxation of tariff barriers and the simplification of rules of origin. AfCFTA member countries at the continent’s core could expect an increase of around 7% in real income. – Hanan Morsy
