Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has said signatories and other stakeholders to the trade agreement are aware there will be a period of protectionism in the various countries even after AfCFTA comes into force from January 1, 2021.

According to the World Bank, AfCFTA will lift 30 million Africans out of extreme poverty, boost Africa’s income by $450 billion by 2035 and also increase Africa’s exports by $560 billion, mostly in manufacturing.

But in an interview with Citi Business News, Mr. Mene urged all players to commit to breaking down all barriers, be they regulatory or tariff barriers that will hinder the successful implementation of the agreement.

“This agreement has only entered into force recently, so it’s going to take some time before the aspirations of the agreement which is to breakdown all barriers to trade on the African continent is fully realized. But we have a good starting point. The rules of the agreement are very clear when it comes to breaking down barriers to investment on the continent, regulatory and tariff barriers. We now have a single set of rules for the liberalization of trade on the continent, and we have to apply those rules.”