By Nana Achiaa Aboagye
SWAKOPMUND – Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has called for accelerated economic integration across Africa, warning that growing global economic uncertainties require the continent to strengthen regional trade, investment and industrial cooperation.
Speaking at the Invest in Africa Trade Expo and Business Summit 2026, Mene described the event as both timely and necessary as Africa navigates a rapidly changing global economic landscape.
“This gathering comes at a critical moment for our continent,” Mene said. “The geopolitical and geoeconomic challenges confronting the world today make stronger African cooperation more urgent than ever.”
He commended the Africa Economic Leadership Council for organizing the summit and said Africa is facing a defining moment that demands collective action.
According to Mene, global fragmentation, supply chain disruptions, rising protectionism and weakening multilateral systems have exposed Africa’s dependence on external markets and underscored the need for greater regional integration.
“Our response should not be retreat,” he said. “Our response must be deeper integration anchored on stronger trade and investment ties across the continent.”
Mene emphasized that the AfCFTA remains Africa’s most important framework for driving economic transformation and helping businesses adjust to changing global trade dynamics.
“The AfCFTA provides the platform through which African industries affected by tariffs and supply chain disruptions can diversify toward regional markets and build resilience,” he said.
He identified sectors including automotive manufacturing, agro-processing, pharmaceuticals and logistics as industries with significant potential to expand production through continental demand and regional value chains.
Highlighting progress made under the trade agreement, Mene revealed that 50 African countries have ratified the AfCFTA.
“We have made substantial progress in implementation,” he said. “Tariff elimination processes are being operationalized and negotiations on rules of origin are substantially concluded.”
The AfCFTA Secretary-General also pointed to growing trade activity within the continent, noting that intra-African trade reached US$220 billion in 2024.
“That figure reflects increasing business confidence and greater utilization of the continental market integration framework,” he said.
According to Mene, intra-African trade is expected to grow by a further 10 percent this year, reaching an estimated US$230 billion, supported by ongoing trade facilitation reforms and accelerated implementation of AfCFTA commitments.
He further highlighted the growing role of private-sector engagement initiatives such as Biashara Africa, the Intra-African Trade Fair, and the AfCFTA Private Sector Dialogue in connecting businesses to new opportunities.
“These platforms are helping enterprises, particularly SMEs and women-led businesses, access markets and partnerships across the continent,” he said.
Despite the progress, Mene acknowledged that several obstacles continue to constrain trade and investment.
“Africa still faces an annual trade finance gap estimated at US$100 billion,” he said. “Access to affordable finance, logistics bottlenecks and fragmented payment systems remain significant challenges.”
He noted that the Pan-African Payment and Settlement System (PAPSS) is helping address some of these barriers by enabling local currency transactions and reducing the costs associated with cross-border trade.
“When fully operational, PAPSS has the potential to save the continent approximately US$5 billion annually in transaction costs,” Mene said.
The AfCFTA Secretariat is also working with major continental institutions to mobilize investment for critical infrastructure projects.
“We are collaborating closely with institutions such as Afreximbank, the African Development Bank and Africa50 to unlock investment for trade corridors, logistics systems and digital infrastructure,” he said.
Mene urged African governments to move beyond policy commitments and focus on implementation.
“The success of AfCFTA will depend on action,” he said. “Governments must domesticate agreed strategies and accelerate implementation through practical, results-driven programmes.”
He also called for stronger customs reforms, improved logistics networks and greater regulatory coordination to eliminate non-tariff barriers that continue to hamper trade flows across Africa.
The AfCFTA Secretary-General challenged development finance institutions, commercial banks and investors to play a more active role in financing infrastructure and investment-ready projects capable of attracting long-term private capital.
Concluding his address, Mene said Africa’s integration journey is already underway but warned that sustained commitment will be required to realize its full potential.
“Africa’s economic integration is no longer a future aspiration—it is happening,” he said. “The next phase requires faster implementation, stronger accountability and unwavering commitment to building a more industrialized, connected and resilient continent.”
