African Free Trade Can Succeed With Bitcoin

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The African Continental Free Trade Agreement (AfCFTA) is the dawn of a fresh start for the continent, and if implemented successfully, it will unleash a new era of prosperity on the back of increased intra-African trade. At present intra-African trade is very low, making up only 14.4% of the continent’s total exports. The United Nations Conference on Trade and Development (UNCTAD) predicts that the AfCFTA could potentially increase intra-African trade by 33% thus reducing the continent’s trade deficit by at least 51%. The elimination of tariffs, key infrastructure development and the harmonization of customs procedures are also core tenets of the agreement that are critical to its success.

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