United Africa can box cleverly in digital space

The opportunities and challenges that the advent of a growing global digital economy is throwing into Africa's path to sustainable development is a clear call for the continent to start operating as united economic front.

- Ido Lekota

It is only as a united economic front that Africa can grab the opportunities created by the digital revolution while also navigating the challenges it presents. Operating as a united front offers Africa numerous advantages, particularly through initiatives such as the African Continental Free Trade Area (AFCFTA).

For example, by creating a single market of 54 countries with a combined GDP of R64.19-trillion, AFCFTA has the potential to boost intra-African trade, diversify exports, and boost industrialisation.

AFCFTA also aims to eliminate tariffs on 90% of goods, reduce trade barriers, and harmonise policies on investment, competition and e-commerce. These measures are expected to raise regional income by 7% (R8,5-trillion) by 2035 and lift 30-million people out of poverty.

A united front also has the potential for harmonised policies on investment, competition, e-commerce and intellectual property rights further enhance Africa's competitiveness in global markets.

Moreover, the agreement is designed to strengthen resilience against global shocks by promoting regional integration and reducing reliance on primary commodities. It supports “made in Africa” policies that prioritises value addition and industrial diversification.