2022 Africa CEO Trade Survey – What does the AfCFTA mean for African business?

Categories: General

Cairo, 6 April 2022 – The Pan-African Private Sector Trade and Investment Committee (PAFTRAC) has announced today the launch of the 2nd edition of its Africa CEO Trade Survey. The focus this year will be on the opportunities being created by the African Continental Free Trade Area (AfCFTA) Agreement.

The AfCFTA agreement creates the largest free trade area in the world, by the number of countries participating, and under which trading commenced in January 2021. The participation of the private sector is crucial to the success of the AfCFTA. The Africa CEO Trade Survey is an initiative by PAFTRAC that provides the continent’s private sector a platform to engage on localized and pan-African trade policies. The survey results are presented in a report format that seeks to advocate private sector views to inform policy reform and shape the future of African trade.

The AfCFTA agreement creates the largest free trade area in the world, by the number of countries participating, and under which trading commenced in January 2021. The participation of the private sector is crucial to the success of the AfCFTA. The Africa CEO Trade Survey is an initiative by PAFTRAC that provides the continent’s private sector a platform to engage on localized and pan-African trade policies. The survey results are presented in a report format that seeks to advocate private sector views to inform policy reform and shape the future of African trade.

“The opportunity that the AfCFTA brings to businesses across the continent is enormous, that is why we must get the implementation right. The private sector wants and needs to be an ally in this process.” said Prof Patrick Utomi, Chairperson of PAFTRAC, commenting on the launch of the Africa CEO Trade Survey. “We call on business leaders from across the continent to make your voices heard by participating in this survey” he added.

“The opportunity that the AfCFTA brings to businesses across the continent is enormous, that is why we must get the implementation right. The private sector wants and needs to be an ally in this process.” said Prof Patrick Utomi, Chairperson of PAFTRAC, commenting on the launch of the Africa CEO Trade Survey. “We call on business leaders from across the continent to make your voices heard by participating in this survey” he added.

Last year’s survey spanned 46 countries and welcomed responses from over 400 African CEOs.

To participate in this year’s survey and get your voice heard, please click here

For more information about PAFTRAC please visit: http://paftrac.afreximbank.com.

About PAFTRAC:

THE PAN-AFRICAN PRIVATE SECTOR TRADE AND INVESTMENT COMMITTEE (PAFTRAC) unites African leaders from the private sector and provides a unique advocacy platform bringing together the African private sector and African policymakers to support extra and intra-African trade, investment, and pan-African enterprise.

The platform drives pan-African results by providing a framework for private sector engagement in trade and investment issues in Africa, including policy formulation and trade negotiations to support African economies in line with the ambitions of Agenda 2063: “The Africa We Want”.

PAFTRAC enhances advocacy and supports policy actions and recommendations of the private sector on trade, and investment issues at the national, trade corridor, regional and multilateral levels.

To read the Africa CEO Trade Survey report of 2021 please click here

About Afreximbank African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. The Bank has a rich history of intervening in support of African countries in times of crisis. Through the Pandemic Trade Impact Mitigation Facility (PATIMFA) launched in April 2020, Afreximbank has disbursed more than US$7 billion to help member countries manage the adverse impact of the financial, economic, and health shocks caused by the COVID-19 pandemic. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2020, the Bank’s total assets and guarantees stood at US$21.5 billion, and its shareholder funds amounted to US$3.4 billion. Afreximbank disbursed more than US$42 billion between 2016 and 2020. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.afreximbank.com.

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Afreximbank: Amadou Labba Sall, asall@afreximbank.com