African leaders have been urged to accelerate the implementation of the African Continental Free Trade Area (AfCFTA), and climate finance in response to the devastating effect of climate change on the continent.
This appeal came as the leaders of the 55 member states of the African Union (AU) are currently meeting for the 36th ordinary session of the AU Assembly on Saturday 18 and Sunday 19 February 2023, in Addis Ababa, Ethiopia.
Two years after the AfCFTA agreement became operational; the continent has only made slight progress in its execution. African countries have been struggling with the effects of pandemic, the Russia/Ukraine war and climate change.
As a result, 22 African countries are in debt distress or at a high risk, unable to address the reverberations, notably the rising cost of living, and loss of jobs and incomes.
“The AfCTFA is a vast free trade region bringing together the 55 countries of the AU and eight regional economic communities. The overall mandate is to create a single continental market with a population of about 1.3billion people and a combined Gross Domestic Product of approximately $3.4 trillion,” Dorine Nininahazwe, AU and East Africa director, ONE Campaign, stated.
According to Nininahazwe, the success of the AfCTFA could lift 30 million people out of extreme poverty. Hence, the importance of the AfCTFA cannot be overstated, given the low proportion of inter-African trade when compared with other regions. “Although Africa may be burdened with many challenges, the AfCTFA is a vital opportunity to build an integrated, prosperous and dynamic Africa driven by its leaders and citizens and represent a dynamic force in the global arena.”
The ONE Campaign is calling on African leaders to enable free movement of people, goods and services by adopting, ratifying, and implementing the AU protocol on the free movement of people across the continent; stating that every young African deserves an African passport.
Accordingly, the group also urged African leaders to improve cross-border management by simplifying trading requirements, digitalisation of administrative procedures, and having one-stop border posts.
The ONE Campaign also urged African leaders to make it easy and affordable to do business, and produce goods and services on the continent; unlock additional investment for critical infrastructure, and build resilience to the devastating impact of climate change among others.
“Africa is on the frontline of a climate emergency it did not create and is currently facing a financing gap of US$41 billion a year for adaptation. The AU should urge high income countries to deliver on their promises of adaptation finance, which means delivering on the goal of $100 billion a year for any year in 2020-2025, addressing any shortfalls through increased contributions in subsequent years, and setting out a delivery plan for the commitment to double adaptation finance as agreed at COP27,” it said.
