Abstract:
rica is far from being considered a
unitary market. It comprises of 55
states, which tend to share similar
market dynamics but equally differ significantly
in how business is conducted. To
address
such disparities, which often frustrate
trade,
African
countries have been coalescing
around regional trading
blocks such as
Common Market for Eastern and Southern
Africa (COMESA), East African Community
(EAC), Southern African
Development
Community
(SADC) and Economic
Community
of
West
African
States
(ECOWAS).
Of
course,
the
citizens
of
Africa
await
with
bated
breath
the
expected
benefits
of
The African Continental Free Trade Area
(AfCFTA), which was unveiled in 2021.
AfCFTA, a brainchild of the African Union
(AU), is expected to form the world’s largest
free trade area connecting over 1.1 billion
people across the African continent boosting
intra-African
trade
once import duties
and
non-tariff barriers are eliminated.