West Africa’s regional powerhouse, the Economic Community of West African States (ECOWAS), is ushering in a fresh wave of economic dynamism by fast-tracking the African Continental Free Trade Agreement (AfCFTA).

In a proclamation on September 4, 2023, ECOWAS divulged its adoption of a strategic approach to expedite the roll-out of AfCFTA, setting the stage for magnified growth and affluence across the region. This crucial move comes on the heels of the Implementation Strategy for the AfCFTA’s endorsement during the 90th ECOWAS Council of Ministers meeting in Bissau, Guinea-Bissau, back in July 2023. Previously, the ECOWAS Ministers of Trade and Industry had embraced the strategy at a significant gathering in Abidjan, Cote d’Ivoire, in April.

The prime objective? To seamlessly integrate West African economies into the larger African market. With its blueprint, ECOWAS aims to harness the triumphs of regional amalgamation, envisioning a vibrant African economic ecosystem. The strategy underscores efficient trade integration, cohesive national AfCFTA tactics, invigorated production across Member States, augmented capacity for strategic African trade policies, and the economic upliftment of women and the youth.

“The ECOWAS AfCFTA Strategy is a pivotal juncture, a testament to our unwavering commitment to implementing the AfCFTA Agreement,” emphasized Massandjé Toure-Litse, the Commissioner for Economic Affairs and Agriculture at the ECOWAS Commission. The Commission, she added, is steadfast in its resolve to empower Member States, ensuring the larger community reaps the dividends of a unified African marketplace.

The AfCFTA, encapsulating the vision of the African Union’s Agenda 2063, is an audacious blueprint spanning pivotal sectors of Africa’s commerce, including digital trade. By bulldozing impediments, it is set to augment intra-Africa trade, unfurling a plethora of opportunities, from job creation to pulling millions out of the depths of poverty, and surging Africa’s income by a staggering $450 billion by 2035.

Till February 2023, 24 nations, along with one regional economic community, have put their strategies into motion, with many on the brink of launching theirs.

Initiated on January 1, 2021, the AfCFTA, boasting a market size of 1.2 billion and a cumulative GDP of $2.5 trillion, stands as Africa’s beacon of economic resurgence.