Unlocking Prosperity: The Role of AfCFTA in Poverty Alleviation
Poverty remains a major issue in many African countries, with millions living below the poverty line. The African Continental Free Trade Area (AfCFTA) represents a beacon of hope for the continent’s economic transformation and poverty alleviation. The AfCFTA is a ground-breaking agreement that seeks to create a single market for 54 African countries with a combined population of 1.3 billion people and a GDP of US$3.4 trillion. Its primary goal is to increase intra-African trade by removing tariffs and non-tariff barriers.
The AfCFTA provides a unique opportunity to address poverty alleviation in the continent by fostering economic growth, job creation, and sustainable development across the continent. This article delves into the role of AfCFTA in poverty alleviation, exploring its mechanisms, challenges, and potential impact.