By Saul Molobi
At the 57th Session of the Conference of African Ministers of Finance, Planning and Economic Development, Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, delivered a rousing call to action, urging Africa’s finance leaders to drive forward the full implementation of the continent’s most ambitious trade project to date.
In his opening remarks to the high-level gathering in Addis Ababa, held under the theme “Advancing the Implementation of the Agreement Establishing the AfCFTA: Proposing Transformative Strategic Actions,” Mene emphasized the urgency of translating policy into progress, and frameworks into impact. He described the AfCFTA not just as a trade agreement, but as “Africa’s strategic project to promote industrialization and enable countries to move up the value chain.”
From Aspiration to Action
The Secretary-General praised the momentum achieved thus far, with 49 Member States having ratified the Agreement, marking a critical threshold toward a continent-wide trade bloc. “This is a significant milestone,” he said, “but implementation is where the transformation begins.”
Calling the AfCFTA “a strategic pathway to achieving inclusive growth, resilience, and sustainable development,” Mene framed the conference as an opportunity for Africa’s finance ministers to reimagine the continent’s trade architecture—shifting from raw material dependency to a future rooted in industrialization and value addition.
A Legal Framework Backed by Practical Tools
Mene outlined the comprehensive legal infrastructure negotiated under the AfCFTA umbrella—covering trade in goods and services, dispute resolution, investment, competition policy, intellectual property rights, digital trade, and the historic Protocol on Women and Youth in Trade.
To operationalize this framework, the Secretariat has rolled out key tools such as:
- The E-Tariff Book: Offering precise, digitized tariff information for traders.
- Rules of Origin Manual: Ensuring businesses understand eligibility for preferential trade.
- Pan-African Payment and Settlement System (PAPSS): Facilitating transactions in local currencies across borders.
- The AfCFTA Adjustment Fund: With $1 billion already raised, the fund aims to cushion disparities and support industrial growth with a $10 billion goal.
However, Mene acknowledged challenges in adoption, particularly with PAPSS, and called for greater engagement from both central and commercial banks.
Guided Trade, Real Results
Highlighting tangible progress, Mene celebrated the success of the Guided Trade Initiative (GTI), which has already enabled over 2,600 preferential trade transactions among 39 countries. “We are witnessing a shift from commodities to value-added products,” he declared, citing examples such as South Africa exporting refrigerators to Kenya and Rwanda exporting packaged coffee to Algeria—many led by women and rural entrepreneurs.
To further support small producers, the Secretariat is backing the development of Trade Aggregating Companies—already operational in Egypt and Ghana—with Afreximbank committing $750 million to expand the model continent-wide.
Strategic Sectoral Development
Identifying four high-growth sectors—Agriculture and Agro-processing, Automotive, Pharmaceuticals, and Transport & Logistics—Mene announced targeted strategies co-developed with partners like the Mastercard Foundation and McKinsey & Company. These include:
- A $46 million fisheries value chain project
- Expansion of Strategic Grain Reserves in Zimbabwe
- The Agri-Trade Action Plan in collaboration with Rwanda’s Trade Ministry
- Regional efforts toward pharmaceutical self-sufficiency via pooled procurement and intellectual property reforms
- Initiatives to position Africa as a hub for New Energy Vehicle (NEV) components through beneficiation of critical minerals
Digital and Financial Infrastructure at the Core
The AfCFTA’s modernization push includes the Electronic Certificate of Origin (E-CO) system and enhanced border infrastructure, such as improvements along the Abidjan–Lagos Corridor, supported by TradeMark Africa and the UK’s FCDO.
A new AfCFTA Digital Identity Project (Digi-Pass) is also in development to streamline trade across borders, along with harmonized regulations under the recently adopted Protocol on Investment, aimed at attracting FDI in high-value sectors.
Recognizing the $80 billion trade finance gap, Mene emphasized the importance of robust financial ecosystems to support SMEs, women, and youth-led enterprises—key to delivering on the Protocol on Women and Youth in Trade.
A Call for Coordinated Leadership
In a direct appeal to ministers present, Mene reinforced their pivotal role: “Your leadership in ensuring macroeconomic stability, mobilizing resources, aligning national policies, and removing financial barriers is vital to unlocking Africa’s full trade potential.”
He urged stronger public-private partnerships, infrastructure investments, and harmonized trade regulations to foster a competitive and inclusive trading environment.
Looking Ahead
Closing his address, Mene expressed optimism that the conference would produce actionable interventions to sustain the continent’s trade transformation. “The AfCFTA is not a destination; it is a dynamic journey,” he concluded. “Let us work together to ensure that this journey delivers a new era of prosperity for all Africans.”
With clear frameworks in place and the political will gathering momentum, the message from Addis Ababa was unequivocal: The time for transformative strategic action is now.