The AfCFTA (African Continental Free Trade Area) represents a great opportunity of development for the African market. With it, the position of Africa in the national and international markets is being redefined. This free trade zone allows the continent to considerably reduce or even dispense with foreign dependence.
It is expected that this year, due to the launch of the AfCFTA, active since January 1st, substantial changes and positive transformations will be experience in Africa. Some of its goals are to reduce red tape, simplify customs procedures, and promote policy standardization and transparency. If properly accomplished, these factors could help Africa become a much more attractive destination for foreign investors, as well as encourage other companies to diversify into lesser-known markets on the continent.
The AfCFTA is also expected to bring with it an inclusive and sustainable industrialization perspective for the continent. Investment opportunities could attract foreign companies with sustainable project proposals.
After some turbulent times, marked especially by the recent COVID-19 crisis, a great ray of hope is projected into the coming months. Many foreign companies have very positive prospects for investment in Africa.