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  3. Improving business environment to attract private sector investment is key to AfCFTA success – Economic Report on Africa 2025

Improving business environment to attract private sector investment is key to AfCFTA success – Economic Report on Africa 2025

17 March, 2025

Addis Ababa, 17 March 2025 (ECA) - The AfCFTA is poised to accelerate industrial growth in Africa, given that manufactured goods represent the largest share of exports in intra-African trade.

The ECA’s latest Economic Report on Africa (ERA) notes that, between 2019 and 2023, manufactured goods accounted for 46% of intra-African exports, ahead of food items (21%), fuels (20%), and ores and metals (7%).

“This is very good news for Africa,” remarked Hanan Morsy, Deputy Executive Secretary and Chief Economist, ECA, in her presentation on the report’s key findings and recommendations at the recent Conference of Ministers of Finance, Planning and Economic Development.

She argued that the agreement presents an opportunity for Africa to “move up the value chain,” which will create better jobs, higher wages, and boost productivity.

“AfCFTA opens all sorts of opportunities for the continent to exploit,” she said, citing its potential to develop multiple regional value chains such as energy, automotives and agro-processing.

For Africa to achieve sustainable industrial growth, leaders must press forward with key reforms to tackle the significant barriers hindering the manufacturing sector.

Engaging the private sector is also pivotal to the success of AfCFTA and driving industrialisation. The report calls on policymakers to sustain efforts to improve the business environment and attract private investors to partner on Africa’s economic transformation.

Issued by:
Communications Section
Economic Commission for Africa
PO Box 3001
Addis Ababa
Ethiopia
Tel: +251 11 551 5826
E-mail: eca-info@un.org

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