H. E. Wamkele Mene Secretary-General Of AfCFTA

Africa is emerging as one of the world’s most promising investment destinations, with the African Continental Free Trade Area (AfCFTA) at the forefront of its transformation. With a combined GDP of $6.7 trillion (PPP) and a population of 1.4 billion, the continent is positioning itself as a unified economic powerhouse through the AfCFTA.

One of the most impactful developments is the newly adopted AfCFTA Protocol on Investment, designed to enhance and harmonize investment regulations across Africa. This landmark protocol offers a streamlined, continent-wide regulatory framework, removing the complexity of fragmented national investment regimes. It aims to foster sustainable growth, support industrialization, and facilitate the free movement of goods and people.

At the World Economic Forum 2024, investors pledged up to $130 billion for Africa, reflecting growing confidence in the region’s potential. The Protocol emphasizes investment that is sustainable, inclusive, and aligned with Africa’s development goals—addressing global issues like climate change, public health, and youth empowerment.

Key features of the Protocol include:

• One-stop shops and national focal points for easier investor engagement.
• A continental investment promotion agency (IPA) to drive Africa’s visibility and investment coordination.
• A strong focus on qualitative investments, job creation, and digitalization.

From 2023 to 2028, Africa is set to consolidate its Common Market goals, laying the groundwork for a new era of shared prosperity. With improved ease of doing business, investor protections, and development-focused governance, the Protocol on Investment marks a pivotal step toward “the Africa we want.

👉 Read the full interview in Global Investor to explore more insights.