The Secretary-General of the African Continental Free Trade Area (AfCFTA) has said that Africa’s largest and most industrialized economies, including Egypt, South Africa, Nigeria, and Morocco, are already benefiting more rapidly from the agreement due to their stronger manufacturing and export capacities.
Speaking on the sidelines of the closing session of the “Biashara Africa 2026” forum in Lomé, Togo, Wamkele Mene said the trade framework is designed to ensure that all African countries benefit, regardless of the size or diversification of their economies.
He stressed that the continent requires significant investment in industrial development, infrastructure, and private-sector growth. According to him, the AfCFTA adjustment fund has already begun financing projects aimed at building industrial bases and improving competitiveness across several African countries.
Mene also highlighted partnerships with the African Development Bank and Africa50 to fund strategic infrastructure projects, including the development of Mozambique’s first data center, as well as special economic zones in Sierra Leone and The Gambia.
He noted that current global challenges, including the European Union’s Carbon Border Adjustment Mechanism (CBAM) and uncertainty surrounding the future of the African Growth and Opportunity Act (AGOA), underscore the importance of building a stronger intra-African market. He pointed out that Africa’s combined consumer and business spending is estimated at around $3.4 trillion.
The Secretary-General added that recent global crises, from the COVID-19 pandemic to the Russia–Ukraine war and conflicts in the Middle East, have reinforced the urgency of accelerating the creation of a unified African market while reducing dependence on external trade partners, without abandoning international cooperation.
On energy and climate change, he said Africa is increasingly investing in renewable energy, including solar and hydro power, under the African Green Industrialization Initiative launched by the African Union.
He also noted that African financial institutions have committed to mobilizing $100 billion to support green trade, green manufacturing, and renewable energy projects, an agreement reached during the Africa Climate Summit held in Addis Ababa in September.
Despite contributing less than 4% of global emissions, Africa bears a disproportionate burden of climate change impacts, including droughts and flooding across the Sahel and other regions, he said, emphasizing that private-sector partnerships are becoming essential to advancing the continent’s green transition and strengthening energy security.
