The principal objective of the newly launched Africa Free Trade Agreement (having come into effect on the 1st of January 2021) is to stimulate African production and manufacturing.
Additionally, the Covid-19 pandemic has seemingly reinforced the aim for African countries to produce locally, rather than import from abroad –which is a resounding positive for the African continent as a whole.
This enables increased employment for thousands of young people entering the job market each year.
This is because import substitution transfers skills, creates jobs, saves foreign exchange and builds pride in “African made only” goods.
Moreover, the AFCFTA’s intention to remove 90% of intra-Africa trade tariffs poses a huge opportunity for online sellers in South Africa to do business with other countries on the African continent.
To learn more about the AFCFTA and how it affects online sellers in South Africa be sure to watch my full interview with Alastair Tempest, the CEO of the eCommerce Forum of South Africa above.
If you’re interested to learn more on this subject be sure to read Alastair’s recent article here.
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