25th May is designated as Africa Day, commemorating the founding of the Organisation of African Unity in 1963 in Addis Ababa, Ethiopia. The OAU became the African Union in 2002 and has undertaken many initiatives to promote African integration. The most ambitious of these is the establishment of the Africa Continental Free Trade Area, which will be celebrating its fifth birthday, having entered into force on 30th May 2019. The AfCFTA is an ambitious plan to create a single continental market, bringing together 54 out of 55 African countries. Eritrea is the sole holdout.
The AfCFTA builds upon the existing Regional Economic Communities, drawing on their strengths to create a harmonised continental single market. Although it is challenging to harmonise 54 different national outlooks, philosophies, and historical experiences, progress has been steady. So far, there are 7 concluded Protocols on Trade in Goods, Trade in Services, Dispute Settlement, Competition, Investment, Digital Trade, and Women and Youth. We at Obonyo and Osiemo are passionate about the AfCFTA and will be happy to answer any questions you may have about the AfCFTA. Happy Africa Day!
