The African Continental Free Trade Area (AfCFTA) Policy Network has entered into a strategic partnership with ONEZSM, an organization known for its advanced video-based marketing platform.
This collaboration is aimed at amplifying AfCFTA’s efforts to promote intra-African trade and drive economic integration across the continent. Under a Memorandum of Understanding (MoU) that was signed, ONEZSM will leverage its cutting-edge marketing technology to raise awareness of AfCFTA’s key initiatives, reaching a wide audience that includes businesses, policymakers, and African citizens.
By enhancing visibility and streamlining communication, the partnership seeks to accelerate Africa’s trading position both regionally and globally.
As the largest trade agreement among African nations, AfCFTA is set to remove trade barriers between member countries, facilitating easier business transactions within Africa. This will allow businesses to tap into Africa’s growing market, with the introduction of regulatory measures such as sanitary standards and the elimination of non-tariff barriers, further easing trade.
Projections from the World Bank indicate that AfCFTA could raise Africa’s exports to the rest of the world by 32% by 2035. Additionally, foreign direct investment (FDI) in Africa is expected to surge by between 111% and 159%, catalyzing economic growth and job creation across the continent.
The free trade agreement is also poised to generate foreign currency for member countries and create employment opportunities for millions of Africans. The economic benefits extend further, with wage growth expected by 2035.
Women, in particular, are projected to see wage increases of 11.2%, while men are expected to experience a 9.8% rise in wages, though these figures may vary depending on which industries experience the most growth in specific countries.
However, the agreement also presents potential risks, such as making smaller countries dependent on larger ones with more dominant industries and factories. As the host country of AfCFTA, Ghana is positioned to play a leading role in implementing the necessary programs and activities to ensure successful trade integration.
Ghana also stands to benefit significantly, with reports estimating $82 million in trade creation and trade diversion costs of around $66 million. Through this partnership with ONEZSM, AfCFTA aims to strengthen Africa’s common voice in global trade negotiations and improve the continent’s economic standing by fostering deeper collaboration between African nations.
