Africa Day 2023 – Accelerating implementation of the AFCFTA

As we commemorate the Africa Day, it is a defining time to reflect on major accomplishments of the continent as well as the dynamics and challenges which will shape the future of Africa.

On 25 May 1963, the foundation of the Organization of African Unity (OAU) which is the landmark accomplishment and turning point in Africa’s history, was laid in a spirit of solidarity and unity to pave the way for a more prosperous Africa. In this context, to commemorate the 60th Anniversary of the foundation of the Organization of the African Unity & subsequently the 21st Anniversary of its successor, the Africa Union, the Economic Development Board is pleased to celebrate the Africa Day with the issuance of this dedicated newsletter highlighting the economic prospects of the continent.

In this post Covid era, referred to as an era of Polycrisis, reflecting the combined effects of the pandemic coupled with galloping inflation levels globally, the war between Russia & Ukraine, and more recently the increasing vulnerability of long standing and trusted financial institutions, many investors are seeing Africa as the new investment frontier.