The report examines how African economies can strengthen resilience to trade risks caused by interconnected shocks across political, economic, energy, technological and climate fronts.
Cascading global crises, including COVID-19 and the war in Ukraine, has hit African economies hard. Reliance on foreign markets, volatile commodity exports, high debt and weak infrastructure have deepened the continent’s vulnerabilities.
Using a new framework, the report analyses the continent’s vulnerabilities across six areas: economic, governance, connectivity, social, energy and climate. It underscores the urgent need to diversify economies, integrate high-value supply chains and improve business conditions, especially for smaller firms.
The report calls for stronger intra-African trade, strategic investments in transport and technology infrastructure, bolder economic reforms and better use of innovative financial tools.
It provides a blueprint to reduce dependence on external markets, expand regional trade networks and leverage the continent’s young population, abundant resources and growing markets to unlock the $3.4 trillion potential of the African Continental Free Trade Area…. read more here
