AfCFTA Targets $250bn Intra-African Trade, Lauds  LASG on Digital Transformation

Omolabake Fasogbon

The Secretary-General of the African Continental Free Trade Area (AfCFTA),  Wamkele Mene disclosed that, the continental trade bloc is on course to achieve an annual intra-African trade volume of $250 billion in the current year. 

Speaking at the ‘Invest Lagos Conference, Mene disclosed that, Intra-African trade is projected to reach $250billion in 2026, up from $220 billion recorded in 2025, reflecting growing implementation of the AfCFTA agreement across the continent.

He noted that, 50 African countries are currently implementing the agreement and that all the protocols underpinning the trade pact have been concluded, creating a stronger foundation for economic integration and regional commerce.

According to him, Africa must accelerate efforts to deepen trade among its countries as global economic challenges continue to limit access to traditional export markets.

“Many African countries have lost market share in key international markets and face increasing trade barriers. We have to build a strong domestic market within Africa because our future growth lies here on the continent,” he said.

Mene highlighted how external shocks, including the COVID-19 pandemic, the Russia-Ukraine conflict and geopolitical tensions in the Middle East, exposed Africa’s vulnerability to global supply chain disruptions and import dependence.

He stressed that, strengthening intra-African trade would help the continent become more resilient to future economic shocks.

He identified high trade finance costs, inadequate transport infrastructure, logistics bottlenecks and restrictions on the movement of people as some of the major barriers limiting trade growth across Africa.

He revealed that, transporting goods between Lagos and Abidjan, a distance of about 1,080 kilometres, can take up to 17 days due to multiple checkpoints and border-related challenges.

Mene also called for wider adoption of visa-free policies and visa-on-arrival arrangements for African business travellers, noting that, easier movement of entrepreneurs and investors would significantly boost trade and investment across the continent.