The African Continental Free Trade Area (AfCFTA) faces implementation hurdles due to political inaction rather than financial constraints, according to Mavis Owusu-Gyamfi, CEO of the African Centre for Economic Transformation.
Speaking at the 2025 Citi Business Forum in Accra, she dismissed claims that Africa lacks resources to operationalize the trade pact, instead highlighting systemic governance failures as the primary obstacle.
“We sign agreements but falter at domestic implementation,” Owusu-Gyamfi stated, noting that five years after AfCFTA’s launch, intra-African trade remains stagnant at 18%. She challenged leaders to address illicit financial flows and tax evasion by multinational corporations, which drain billions annually from African economies. “Our pension funds sit in Western banks earning minimal interest while we plead poverty,” she remarked.
The ACET chief identified structural weaknesses including porous tax systems and misplaced spending priorities as key barriers. Ghana, like other signatories, has yet to fully align national policies with AfCFTA requirements despite the agreement’s potential to boost manufacturing and diversify exports.
Analysts concur that AfCFTA’s sluggish progress contrasts sharply with global trade realignments, leaving African economies vulnerable to external shocks. Owusu-Gyamfi urged immediate policy reforms to capitalize on the pact’s estimated $450 billion continental GDP growth potential by 2035.
