Mr Wamkele Mene, Secretary-General, African Continental Free Trade Area (AfCFTA) Secretariat, has praised the progress made towards realising the vision of Africa’s founding fathers
Okeoghene Akubuike
Mr Wamkele Mene, Secretary-General, African Continental Free Trade Area (AfCFTA) Secretariat, has praised the progress made towards realising the vision of Africa’s founding fathers for economic integration.
Mene, who spoke at the 32nd Afreximbank Annual Meetings(AAM2025) in Abuja, emphasised the crucial role of economic integration in shaping the continent’s future.
The AAM2025 with the theme “Realising the Vision of the African Founders: Progress Towards Africa’s Trade and Economic Integration,” brought together leaders and stakeholders to discuss the advancements and challenges in Africa’s economic landscape.
He praised Prof. Benedict Oramah, President and Chairman of Afreximbank, for his leadership in driving the bank’s mission to support Africa’s economic development.
Mene said Afreximbank had been instrumental in the success of AfCFTA, a landmark initiative aimed at creating a single, integrated market for goods and services across the continent.
He said the establishment and operationalisation of the AfCFTA represents one of the most ambitious and transformative steps towards continental economic integration since independence.
Mene highlighted key areas of AfCFTA progress.
He said 49 countries had ratified the AfCFTA Agreement, representing 90.7 per cent of signatories, and tariff reductions and simplified customs procedures were being implemented to facilitate trade.
Mene added that commercially meaningful trade was underway, with businesses benefiting from reduced or zero tariffs, .
“Progress is being recorded in services trade including finance, retail, telecommunications, and tourism.”
Other notable progress includes the adoption of key protocols on investment, intellectual property rights, competition policy, digital trade, and women and youth in trade.
He emphasised that the AfCFTA was more than just a trade agreement but a framework for inclusive and sustainable growth, designed to benefit small-scale traders, women, and youth.
Mene said the initiative had already shown promising results, including diversification of export destinations within Africa, reduced trade barriers and increased economic activity.
Others, he said, were job creation and the growth of Small and Medium-sized Enterprises (SMEs).
Mene, however, said challenges remained, including the need for bold investments in infrastructure to connect markets and facilitate trade.
Other challenges, he said, were ratification of protocols on free movement of persons and the right of establishment.
Mene emphasised the importance of continued political leadership, public-private collaboration, and stakeholder engagement to ensure the success of the AfCFTA.
He said that with the AfCFTA Secretariat committed to working with Member States and strategic partners like Afreximbank, the future of Africa’s economic integration looks promising.
“We dare not fail in this historic mission to integrate and transform Africa.
“ The success of the AfCFTA demands continued political leadership, effective public-private collaboration, and active engagement from all stakeholders.
“We want to see African-made goods and services flowing freely across our borders, generating decent jobs, stimulating industries, and improving livelihoods across the continent.
“We owe it to our member states. We owe it to our partners and above all, we owe it to our 1.4 billion fellow Africans, to build an Africa that is strong, self-reliant, and ready to claim its rightful place in the global economy.”(NAN)(www.nannews.ng)