Africa’s trade crisis must end – AfCFTA Chief rallies Ghanaian businesses ahead of IATF 2025

Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has issued a rallying call for Africa to end its chronic underperformance in global trade, warning that continued stagnation will keep the continent trapped in poverty.

Speaking in Accra at the IATF 2025 Roadshow on Tuesday, he said the state of Africa’s trade is unacceptable and must change.

“Africa’s share of world trade has stagnated at just around 3%. This cannot continue,” he declared. “We must bring this trade crisis to an end.”

He said other regions have made impressive strides in trading among themselves.

“Europe trades within itself at 70%, Asia at 60%, North America at 40%, but intra-African trade is still about 15%,” he said.

He acknowledged that the number may even be inflated due to informal trade and data gaps. “We have to be honest about the depth of the problem.”

Mene said reversing the trend is critical to lifting millions out of poverty and achieving inclusive prosperity.

“Africa’s path to genuine, inclusive prosperity depends on stronger trade performance,” he said. “It is a fundamental prerequisite for lifting our people out of poverty.”

He stressed that the AfCFTA was created to transform this outlook. “The AfCFTA is fundamentally changing this paradigm,” he said.

“We are dismantling trade barriers, reducing tariffs and eliminating non-tariff barriers. We are creating space for African businesses to grow.”

Mene described the traditional trade model in Africa as extractive and harmful.

“Historically, we have sent raw materials abroad only to re-import finished goods. That has to stop,” he said. “We are now building regional value chains that allow us to process and add value here at home.”

He said efforts are underway to attract cross-border investments in agro-processing, energy, mining and manufacturing.

“We want to ensure higher value addition within Africa,” he said. “It’s not enough to extract; we must process, produce and export value-added goods.”

He said the AfCFTA’s strategy includes standardising customs processes and investing in regional infrastructure.

“Transportation costs are killing trade. We must fix that,” he said. “Connectivity is not a luxury—it is an economic necessity.”

Mene said sectors like agribusiness and the automotive industry hold the key to Africa’s industrial future.

“We are seeing the rise of regional hubs. Agribusiness, in particular, can drive inclusive growth and create jobs,” he said. “We must reduce post-harvest losses and strengthen food security.”

He called on development banks and the private sector to back the vision.

“Public-private partnerships and strong backing from institutions like Afreximbank are crucial,” he said. “We need collective action to shift Africa’s economic destiny.”

Looking ahead to the 2025 Intra-African Trade Fair in Algeria, Mene said the event would offer a concrete platform to turn vision into deals.

“IATF2025 is where this vision becomes reality,” he said. “It’s where partnerships are forged, deals signed, and investment mobilised.”

He urged Ghanaian businesses to seize the opportunity.

“This roadshow is for you. It’s to equip you,” he said. “Whether you are looking to exhibit, invest, or source, IATF2025 is your gateway to Africa’s new trade era.”

Mene ended with a clear call to action.

“Let us work together to make IATF 2025 the most successful edition yet,” he said. “The future of African trade is unfolding, and it is happening now.”

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