Soyo — The African Continental Free Trade Area (AfCFTA) forecasts a volume of 230 billion US dollars in trade transactions by 2027, the Secretary-General of the organizion, Wamkele Mene, said on Wednesday in Angola's northern Zaire province.
The figure represents an increase of 10 billion US dollars compared to 2024, the official said during a visit of several hours to the construction site of the future Fertilizer Industrial Complex in the municipality of Soyo.
According to the AfCFTA Secretary-General, the projected growth reflects the political will of the more than 50 signatory countries of the agreement, highlighting the role of the private sector in boosting trade on the continent.
Despite the progress, he pointed to challenges related to supporting infrastructure, logistics and transport, for which efforts are being made to overcome the historical fragmentation of the African market, seen in recent decades.
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Regarding Angola, he highlighted the commitment of the authorities in implementing the AfCFTA, with the leading role attributed to the private sector, considered essential for the success of this economic integration model.
During the visit, Wamkele Mene expressed satisfaction with the project for the future Fertilizer Industrial Complex, located in the Kintambi neighborhood, which, according to him, should benefit not only Angola, but also other African countries.
"I congratulate and encourage the initiative of the Opaia Group, which leads this project, for contributing to the fight against food insecurity in Africa and promoting the industrialization of the continent," he stressed.
The official recalled that Africa continues to depend on food imports, adding that projects of this nature can reverse this scenario in the medium and long term.
The project, called Amufert, is the result of a partnership between the Opaia Group and Sonagás, with financing from Afreximbank and is valued at approximately 2.2 billion dollars.
The infrastructure will use natural gas as its main raw material, as well as carbon dioxide capture, for the production of ammonia and granulated urea.
With an estimated capacity of 4.000 tons per day, the complex should produce approximately 1.3 million tons of urea per year, destined for the domestic market and export.
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The production of phosphate-based fertilizers is also planned, with prospecting underway in the Mukula commune (Tomboco) and the Soyo municipality. PMV/JL/AMP
