Since the start of this year, those countries whose parliaments ratified the African Continental Free Trade Area (AfCFTA) agreement and deposited a schedule of tariffs under which 90% of goods and services are traded freely have been permitted to trade under the rules of the agreement.
According to the World Bank, if fully implemented, AfCFTA would boost Africa’s income by $450 billion by 2035, while adding $76 billion to the income of the rest of the world.
[It] will reduce dependence on the dollar by allowing payments between countries to be made in local currencies
Alex Kuptsikevich, FxPro
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