Africa must move away from exporting raw materials and focus on adding value to its natural resources to fully benefit from the opportunities created by the African Continental Free Trade Area (AfCFTA), the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Patience Okala, has said.
Okala made the call on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are critical to Africa’s industrialisation and long-term economic development.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, Okala said the AfCFTA is not limited to removing trade barriers but also provides a platform for industrial growth, value creation and employment opportunities across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
She explained that Africa’s economic transformation would depend on the successful implementation of the trade agreement rather than merely signing trade deals.
Okala said the success of AfCFTA would be measured by how effectively businesses can access new markets, move goods across borders easily and benefit from the opportunities created by the agreement.
She noted that Nigeria has continued to strengthen its AfCFTA implementation efforts under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole.
According to her, the country has developed simplified AfCFTA guides translated into six languages to help businesses better understand the agreement and take advantage of emerging opportunities.
Okala called for stronger cooperation among governments, regulators and private sector players to remove trade barriers, increase investment and build a more integrated African market.
She emphasised that as the continent moves from policy development to implementation, stakeholders must ensure that AfCFTA benefits become practical realities for businesses, especially micro, small and medium enterprises (MSMEs), women-owned businesses and young entrepreneurs.
The AfCFTA, which aims to create a single African market for goods and services, is expected to boost intra-African trade and support economic diversification across member countries.
Okala said achieving these goals would require countries to prioritise local processing of resources, strengthen industries and create more opportunities for businesses across Africa.
