By Boris Esono Nwenfor
YAOUNDE, Cameroon – The Cameroon Economic Policy Institute (CEPI) on February 28, 2025, organized a webinar on the “Impact of the African Continental Free Trade Area (AfCFTA) on Business Revenues.” The virtual event aimed to raise awareness about AfCFTA and equip businesses with the skills needed to leverage the trade agreement for growth.
The initiative is part of CEPI’s “Trade for You” program, which promotes free trade and provides businesses with the necessary tools to benefit from trade agreements like AfCFTA. The session, which started at noon, gathered 30 participants, including business owners, researchers, experts, and students.
The African Continental Free Trade Area, which officially launched in 2021, is designed to boost intra-African trade by reducing tariffs, eliminating trade barriers, and fostering economic integration.
Elishammah Nyaba, Research Analyst with CEPI and moderator, emphasized AfCFTA’s role in boosting intra-African trade. He highlighted how the agreement grants businesses access to an estimated 1.3 billion consumers, providing a significant opportunity for expansion and increased revenue.
The panel consisted of 3 experts, Dr. Hugue Nkontchou founder and CEO of Public Policy in Africa Initiative, Mr. Sylvain Nkoa, a Trade finance expert at Société Générale, and Mr. Ronald Akono a trade analyst from the Youth Trade Facilitation Fund.
The panelists highlighted key points regarding the impact of the AfCFTA on businesses. They noted how it provides businesses with access to a larger market, facilitating trade and creating opportunities for increased earnings. They emphasized the importance for businesses to leverage AI and other technological innovations to remain competitive in the new trade environment, which would enable them to increase their revenues under the AfCFTA and stay competitive.
Experts also addressed the potential risks that come with such wider intra-African trade, such as exchange rate fluctuations. To mitigate these risks, they suggested that businesses use currency hedging tools like forward contracts to protect themselves. However, the panelists noted that the AfCFTA will benefit the manufacturing and industrial sector by giving them access to a larger market, but stated that a step-by-step export guide for exports under the AfCFTA should be created and shared with businesses.
The panelists recommended that businesses invest in cost-cutting measures to stay competitive, digitize their operations and ensure their products adhere to international norms in order to fully benefit from the AfCFTA. They advocated the use of the African Trade Observatory to obtain vital information related to all export markets and product categories across Africa.
The interactive Q&A session allowed participants to gain deeper insights into trade opportunities under AfCFTA. The discussions reinforced the need for businesses to stay informed, adapt to new trade conditions, and leverage available tools to maximize their success.
Henri Kouam, Founder of CEPI, expressed gratitude to CEPI’s partners – Atlas Network and Phoenix Construction. He encouraged businesses to actively tackle trade-related challenges to fully harness AfCFTA’s potential.
With Africa continuing to integrate economically, initiatives like CEPI’s webinar serve as crucial platforms for empowering businesses and ensuring that they thrive in the continent’s expanding trade landscape.
