The African Union (AU) has called on African governments to use the African Continental Free Trade Area (AfCFTA) as a tool for the continent’s economic recovery from multiple crises.

Development Diaries reports that the AU is commemorating the African Integration Day 2023 under the theme: ‘Accelerating Job Creation, Digital and Financial Inclusion in the AfCFTA market’.

In order to recognise major achievements made in the regional and continental integration processes, the AU heads of state and government designated 07 July as ‘African Integration Day’ in 2019.

It was also set aside to deliberate on critical lessons learnt, with a view to addressing challenges faced by the continent.

According to the United Nations, Africa has the youngest population in the world, with 70 percent of sub-Saharan Africans under the age of 30, and such a number provides an opportunity for the continent’s growth.

By 2050, Africa is projected to house one-third of all youths, according to a report by International Trade Centre (ITC).

However, young Africans battle problems like unemployment, a lack of financial resources and assistance, scale-related challenges for small enterprises, and tensions related to intra- and interregional migration.

The AfCFTA is expected to boost intra-African trade by 52.3 percent by 2025, increase Africa’s income by up to $450 billion by 2035, and lift 30 million Africans out of extreme poverty.

Development Diaries calls on AU member states and policymakers to sensitise youths to the opportunities offered by the trade agreement.

Governments must also involve young people in the development and implementation of the AfCFTA and relevant policies and programmes.

Also, African governments must also increase access to finance for youth and women-led businesses as a way of supporting and boosting the micro, small and medium enterprises in Africa.

Source: African Union

Photo source: AfDB