Intra-African trade could double by 2035 if the AfCFTA is fully implemented, says Afreximbank President Prof. Benedict Oramah. Speaking at the launch of his new book during the bank’s 32nd Annual Meetings, Oramah highlighted a shift in global trade dynamics toward South-South partnerships. Africa’s trade with other developing countries now accounts for 68% of total trade, while trade with advanced economies has dropped below 50%. Intra-African trade, currently at 15–17%, reached $220.3 billion in 2024 and is on track to grow even more. This growth is buoyed by countries like Nigeria, South Africa, and Egypt. The rise of African manufacturing has, in turn, spurred the creation of new value chains and the growth of small and medium-sized ventures. According to Oramah, this development is reshaping trade finance across the continent.
Nairametrics
