Africa Must Stop Exporting Raw Materials, Says AfCFTA

The National Coordinator and Chief Executive Officer of the Nigeria African Continental Free Trade Area (AfCFTA) Coordination Office, Patience Okala, has urged African countries to end the export of raw materials and instead prioritise local processing and value addition to drive industrialisation and sustainable economic growth. She made the call during the Streamsowers & Köhn 20th Anniversary Business Forum, stressing that Africa must maximise the benefits of the AfCFTA by creating more value within the continent.

Okala explained that the AfCFTA is more than a tariff-reduction agreement, describing it as a framework for industrialisation, value addition and job creation. She said Africa's vast natural resources should be processed locally before export, arguing that beneficiation would boost manufacturing, increase exports of finished products and generate greater economic returns for African countries.

According to her, the success of the AfCFTA will not be measured by the number of agreements signed but by how effectively businesses can access new markets, trade seamlessly across borders and take advantage of opportunities created under the continental free trade arrangement. She stressed that implementation, rather than negotiations, is now the priority.

Okala noted that Nigeria has intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole. She said the Nigeria AfCFTA Coordination Office has developed simplified guides in six languages to help businesses, particularly small and medium-sized enterprises, better understand and benefit from the trade agreement.

She also called for stronger collaboration among governments, regulators and the private sector to remove barriers to trade and investment across Africa. According to her, ensuring that MSMEs, women-owned businesses and young entrepreneurs can fully participate in the AfCFTA will be critical to achieving an integrated and competitive African market.