Johannesburg, 13 September 2021(TDI): While talking to the SABC NEWS, General Secretary of the African Continental Free Trade Act, Wamkele Mene assured that the free trade pact is one of the finest diplomatic moves made by the African Union. It consists of a single market within the region of Africa.
It will boost the African economy and strengthen regional integration. The trade pact will make Africa globally competitive in the international market as the combined GDP will shore up to $ 3.4 trillion. Moreover, this pact will enhance industrialization and help the region boost local economies. General secretary Wamkele Mene stated that 41 out of 55 countries have ratified the agreement. He said that other African countries are reluctant and do not want to risk themselves amid large economies.
The private sector and civil society will bring investors to the establishment of a hassle-free monetary system where payments will be made via digital payment platforms. The union is working to create a single currency in the region.
