The ZLECAf is an agreement between the 55 member countries of the African Union Commission and covers an African market of more than 1.3 billion people. The AfCFTA was signed on March 21, 2018. Trade under the AfCFTA started on January 1, 2021.
The AfCFTA thus marks a new stage in the strengthening of regional integration in Africa and the search for stronger and more sustainable growth. The AfCFTA will have a significant impact on manufacturing and industrial development, tourism, science and technology, intra-African cooperation and economic transformation.

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The AfCFTA will make Africa the largest free trade area in the world and facilitate intra-African trade (trade between African countries) by achieving several important interrelated objectives.

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The ZLECAf will allow Large Companies to partner with Small and Medium Enterprises (SMEs) to transform raw materials, train them in best practices and transfer technology into the process.

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As of September 30, 2021, all 15 ECOWAS Member States, including Cape Verde, have signed the AfCFTAf Agreement, and 13 of the 15 Member States have deposited instruments of ratification, making the AfCFTAf legally binding in their national laws and making these countries States Parties to the AfCFTAf.

    WELCOME TO ZLECAf

Trade in the AfCFTAf can help ECOWAS Member States trade in a more diverse range of products.
The service sector in Africa is very important. Services can be the subject of a trade in themselves, such as in the hotel business, in the use of a hotel room, for example.
Through its position in the market and in the economic regions, Cape Verde offers great advantages to companies to freely produce and supply products and services in 55 countries of the African continent.

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Under the ZLECAf, companies can import raw materials from the 55 member countries, freely process and export finished products to the 55 African countries.

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The Trade Observatory provides up-to-date and reliable quantitative and qualitative data and information to support evidence-based trade policies and decisions, but also facilitates monitoring of the implementation of the AfCFTAf process and its impact. The major focus is on emerging issues such as regional value chains and e-commerce.

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Africa is the last frontier of large global expansion opportunities for companies. Despite its more the 1.3 billion people, more the 590 million internet users, and 330 million e-commerce consumers, Africa is still not on the radar for many businesses or investors outside the continent. Digital transformation is accelerating in Africa and is introducing many gains. Internet connectivity is powering innovations, driving inclusion, providing jobs and generating solutions to legacy challenges.

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The African continent represents 20 percent of the earth’s surface and is home to 1.3 billion people—likely reaching 2.53 billion people by 2050. It boasts 60 percent of the world’s arable lands, large swathes of forests, 30 percent of the world’s reserve of minerals, and the youngest population of any continent. Yet, despite these riches, it produces only 3 percent of global GDP, accounts for less than 3 percent of international trade, mainly primary commodities and natural resources.
Only 1% of global investment in R&D is spent in Africa, and the continent holds a tiny 0.1% of the world’s patents. Technology and Innovation.

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In 2019, $134 million in funding was attributed to e-Commerce, indicating both an increase in funding and number of deals. Growth driven by improvement payments landscape, rise in mobile tech, and mobile money tech adoption.
By 2025, the Internet economy has the potential to contribute $180 billion to Africa’s economy growing to $712 billion by 2050.

    WELCOME TO ZLECAf

Africa is the last frontier of large global expansion opportunities for companies. Despite its more the 1.3 billion people, more the 590 million internet users, and 330 million e-commerce consumers, Africa is still not on the radar for many businesses or investors outside the continent.
Digital transformation is accelerating in Africa and is introducing many gains. Internet connectivity is powering innovations, driving inclusion, providing jobs and generating solutions to legacy challenges.

    WELCOME TO ZLECAf

Tourism is a great contributor to Africa’s development, both in terms of employment generation, contribution to Gross National Product as well as to export earnings. Over the past 20 years, tourism has become vital to African economies. In 2019, the industry accounted for about seven percent of Africa’s GDP and contributed $169 billion to its economy. Africa’s travel and tourism sector employed more than 24 million people in 2019, according to the World Travel and Tourism Council (WTTC).