ACCRA, Ghana (BG) — The African Continental Free Trade Area (AfCFTA) is marking the seventh anniversary of its founding agreement, highlighting significant strides toward transforming Africa’s trade landscape.
On this day in 2018, 44 countries signed the Agreement Establishing the AfCFTA. Seven years later, 54 of the African Union’s 55 member states have signed, and 48 have ratified the agreement — making it the most rapidly ratified instrument in the AU’s history.
With its legal foundation in place, AfCFTA says it is now focused on expanding market access, strengthening trade corridors, and unlocking new investment opportunities across the continent.
The secretariat points to operational tools such as the Pan-African Payment and Settlement System (PAPSS), the AfCFTA Adjustment Fund, and the E-Tariff Book as key enablers making trade more seamless.
The agreement also includes protocols on Trade in Goods, Trade in Services, Investment, Intellectual Property Rights, Digital Trade, and Women and Youth in Trade.
Together, these form what the organization describes as a rules-based framework for Africa’s economic transformation. A dispute settlement mechanism is also in place to help ensure transparency and build investor confidence.
“AfCFTA is more than a trade agreement. It is Africa’s path to self-reliance, economic sovereignty, and sustainable growth,” the secretariat said in a statement Friday. “We remain committed to working with like-minded partners to accelerate implementation and create a thriving single market for all.”
Despite the progress, officials acknowledged that the work is far from over.
Full implementation remains a top priority as the bloc continues to build the infrastructure and institutions necessary to unify Africa’s markets.
AfCFTA aims to create the largest free trade area in the world by population and seeks to boost intra-African trade by eliminating tariffs and addressing non-tariff barriers.
