FINANCE and Economic Development Minister, Mthuli Ncube believes the Africa Continental Free Trade Area (AfCFTA) is the only buffer for economies to shield their gains in the face of rising global uncertainty and protectionism.
AFCFTA, the world's largest free trade area, aims to boost intra-African trade, stimulate economic growth, and promote regional integration by eliminating tariffs and non-tariff barriers among participating African countries.
Addressing delegates at the 57th Session of the Conference of African Ministers of Finance, Planning, and Economic Development, Ncube said over the past year, the global economic landscape has shifted significantly, characterized by rising geopolitical tensions and increased trade protectionism, which have heightened the importance of regional trade blocs.
He said the tariff escalations and evolving trade restrictions threaten to further marginalize African economies, making it essential for Africa to accelerate its regional integration agenda.
"AfCFTA serves as our most powerful blueprint for addressing these global challenges. With a market of 1.4 billion people and a combined GDP exceeding $3.4 trillion, the AfCFTA offers a critical pathway for Africa to build resilience, reduce dependence on external markets, and drive sustainable industrialization.
"Yet, despite its potential to boost intra-African trade by 45% by 2045, implementation remains uneven due to structural barriers, inadequate infrastructure, and limited access to trade finance," Ncube said.
Ncube implored the conference to seize the opportunity to adopt bold, transformative actions to accelerate the implementation of the AfCFTA and establish Africa as a key player in the reconfiguration of global trade.
He said enhancing regional value chains and trade infrastructure is critical while strengthening production and supply chains in key sectors--including agriculture, manufacturing, and services--will maximize value addition and reduce Africa's reliance on raw commodity exports.
"We must act decisively to deepen our regional integration--not just defensively, but as a proactive strategy to harness Africa's economic potential. The success of the AfCFTA relies on strong political will, coordinated implementation, and the complete mobilization of financial and technical resources," added Ncube.
