“Only through an accelerated and effective implementation of the AfCFTA can Africa build sufficient shock absorbers to build resilience,” said Mr Pedro in his remarks at the 42nd Ordinary Session of the African Union Executive Council meeting in Addis Ababa, recently.
High global inflation has also led to tighter financial conditions. Mr Pedro said despite Africa’s economic growth of 3.9% in 2023 and 2024, more still needs to be done to compensate for the losses experienced in the past three years. “By providing more opportunities for women and the youth, the AfCFTA helps reduce inequality and poverty, and improves inclusion,” he said.
Source: Financial Digest (financialdigest.net)
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