stays upbeat in spite of the difficult economic climate of 2023. In 2024 and 2025, the majority of macroeconomic indicators are predicted to improve.
The Continent is likely to grow at a faster rate than the world average, and while inflation is high right now, it is predicted to fall, with a downward trend that will last until 2025.
The Chief Economist remarked that the African Trade Report 2024, titled “Climate Implications of the AfCFTA Implementation,” concluded that the AfCFTA provides a way to reconcile climate change concerns and the developmental aspirations of African countries.
Dr. Kale stated that although the AfCFTA has many advantages, there is still disagreement over how it would affect climate change.
“One group believes that increased urbanisation and industrialization associated with the AfCFTA will worsen carbon emissions, and the second group believes that carbon emissions will be eliminated through shorter shipping distances by emphasising intra-African trade and reducing extra-African trade,” the speaker stated.
According to the report’s overall findings, improving the AfCFTA might lead to potential benefits through increasing intra-African trade and investment, fostering economic growth, and realising the founding fathers’ objective.