Posts tagged: African Union

Intra-African trade

Image for Intra-African trade

The creation of a free-trade area that boosts Intra-African trade is being proposed by both the African Union and the World Bank as a key driver for economic growth on the African continent. The World Bank reports that African nations are losing out on billions of dollars of potential trade earnings because of trade barriers among neighbouring countries and onerous shortcomings rooted in the continent’s history. However, cross-border trade on a micro and informal level has been taking place for decades. It sustains many livelihoods, creates millions of informal jobs and provides an access point to cheaper and essential goods.