ABSTRACT
The African Continental Free Trade Area (AfCFTA) brings new opportunities to industrialize Africa. The large, and growing, size of the free trade area market should incentivize investment and development of manufacturing productive capabilities within the continent (whether local entrepreneurs or foreign direct investment) to service this market, supporting structural transformation and job creation. However, it is not a ‘fait accompli’ that the benefits of the AfCFTA will be fully realized. That is dependent on African policy makers developing and implementing industrial, competition and trade policies that support manufacturing value addition in the continent and intra-Africa trade; and developing appropriately empowered institutions (e.g., providing political muscle to key continental institutions such as the African Union Commission) to develop and implement supra-national policies. The AfCFTA must avoid past mistakes made in the regional economic communities. In particular, narrow national interests should not be allowed to trump the continental interests.
