Africa is undergoing rapid social and economic change, starting with the continent working to formalize an Africa-wide free-trade agreement, which has the potential to be the largest free trade area in the world. African nations are also actively shifting their economies away from reliance on extractable commodities toward a broader goods and services orientation that includes telecoms, media and financial services.
A youthful energy is another factor—three-quarters of Africa’s residents are currently 35 or younger, with the World Economic Forum projecting 40% of the world’s births will be African by 2050. Following the same timeline, Africa’s urban population is expected to triple by 2050, with smart cities being planned and under development.
It is not just social and economic change that Africa is embracing, but also environmental. By some measures, Africa is attracting more than twice its share of global green investment. The continent is changing.
One key development in the region is the arrival of the African Continental Free Trade Area (AfCFTA). Launched in 2018 with trade phasedowns commencing Jan. 1, 2021, the pact aims to accelerate intra-African trade and boosting...
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