It has been emphasised that the primary impediment to the successful implementation of the African Continental Free Trade Area (AfCFTA) is not a shortage of financial resources, but rather a lack of political commitment.
This view was expressed by the Chief Executive Officer of the African Centre for Economic Transformation (ACET), Mavis Owusu-Gyamfi, during her address at the 2025 Citi Business Forum.
Held under the theme “The Global Tariffs Dispute: Navigating Ghana’s Recovery Strategy,” the forum provided a platform on which concerns were raised regarding the continent’s readiness to convert lofty trade agreements into concrete national action.
It was observed that while agreements such as the AfCFTA are readily signed by African leaders, their actual implementation through local policies and regulatory frameworks is frequently delayed or inadequately pursued.
The widespread perception that Africa’s challenges stem primarily from a lack of funds was directly challenged. It was argued that ample financial resources do exist on the continent, but they are often misdirected or poorly managed.
Pension funds, it was noted, are being invested offshore at minimal returns, and insufficient efforts are being made to ensure compliance with tax obligations by multinational corporations operating in Africa.
Concerns were also raised over the selective focus placed on illicit financial flows. While public attention is often centred on funds misappropriated by politicians, less scrutiny is applied to the billions siphoned out of the continent by large international firms through tax evasion and loopholes.
It was asserted that had political resolve been demonstrated consistently, more robust tax enforcement and strategic resource deployment would have been achieved, thereby advancing AfCFTA’s objectives without the perceived funding limitations.
Source: Albert Kuzor
