EU commission proposes €40bn for AfCFTA

The European Union Commission has proposed a €40-billion package (R640bn) to attract investments and create employment in Africa in support of the African Continental Free Trade agreement (AfCFTA).

Speaking at the Horn of Africa AfCFTA Forum on Friday, Ranieri Sabatucci, European Union ambassador to the African Union, said that the long-term objective of the AfCFTA was to further increase African exports and attract investment that would create 10 million jobs in Africa.

“The AfCFTA has the potential to be economically transformative for Africa by creating the world’s largest integrated common market since the establishment of the World Trade Organisation.”

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