The African private sector must move faster to convert the African Continental Free Trade Area (AfCFTA ) into commercially meaningful trade, with stronger financing, policy enforcement and value-added industrialization, according to Africa Business Council President Dr. Amany Asfour.
Speaking on the AfCFTA Podcast Dr.Asfour said Africa’s trade ambitions will remain largely theoretical unless businesses, particularly small and medium-sized enterprises, women and youth-led firms, are placed at the center of implementation.
The Africa Business Council was created by African heads of state alongside the establishment of the AfCFTA as the official private-sector arm of the African Union. It represents regional business councils, chambers of commerce, manufacturing associations and private-sector federations across the continent, including blocs from COMESA, SADC, East Africa and West Africa.
Dr.Asfour said the Council’s mandate goes beyond trade liberalization to integrate trade with investment and industrialization, arguing that Africa cannot build a single market while continuing to export raw materials.
“We cannot talk about trade without linking it to investment and industrialization,” she said, outlining what she described as a “triad of empowerment” strategy focused on private-sector capacity building, policy advocacy and product development.
Under the first pillar, the Council is prioritizing training and market access for SMEs, women and youth entrepreneurs to enable them to trade under AfCFTA rules. According to Dr. Asfour said lack of information remains one of the biggest barriers, particularly among informal and cross-border traders who dominate intra-African commerce.
The second pillar focuses on policy advocacy, including preferential treatment for African firms. One of the Council’s flagship proposals is that at least 40% of government procurement across the continent be reserved for African companies, including SMEs, women and youth-led businesses. Dr.Asfour said this would anchor demand locally and reduce Africa’s dependence on imports for goods already produced on the continent.
She cited medical consumables as an example, noting that Egypt alone hosts hundreds of manufacturers in the sector, yet African governments continue to source supplies from outside the continent. Financing, she added, remains critical, as many African firms lack the capital required to meet procurement standards and tender requirements.
The third pillar targets industrialization and value addition, with a focus on linking raw materials to research, technology and manufacturing ecosystems such as special economic zones, incubators and accelerators. The aim is to develop competitive, standardized and certified “Made in Africa” products that can circulate freely within the continent and compete globally.
