ABUJA, Nigeria, June 26th,– In a compelling call to action for Africa’s business and technology sectors, the African Continental Free Trade Area (AfCFTA) Secretariat has projected that the continent’s digital market will surpass a staggering $712 billion by 2035.
This revelation, announced by AfCFTA Secretary-General Wamkele Mene, signals a seismic shift in Africa’s economic landscape—one that places innovation, entrepreneurship, and digital infrastructure at the heart of continental growth.
Mene made the announcement during the 32nd Afreximbank Annual General Meeting, at the Transcorp Hilton hotel in Abuja.
He revealed that the expected growth of the African digital economy represents a transformative opportunity for the continent’s burgeoning youth population and tech entrepreneurs.
“Africa is on the cusp of a digital revolution,” he stated.
“We are witnessing the emergence of a new era in which data centres, cross-border digital trade, and resilient digital infrastructure will define the competitiveness of our economies.”
At the core of this transformation lies the Digital Trade Protocol, a landmark development under the AfCFTA framework.
Mene described this protocol as a pivotal moment for Africa’s digital economy, providing a structured policy environment that facilitates secure digital transactions, cross-border data flows, and e-commerce.
It marks a definitive shift from ambition to action, as Africa moves beyond political rhetoric to concrete mechanisms that underpin real economic integration and digital empowerment.
AfCTA Agreement
The Secretary-General also highlighted that 49 countries have now ratified the AfCFTA agreement an overwhelming show of political will toward dismantling customs barriers and fostering a unified African market.
“This is more than a trade agreement-it is a vision realised,” Mene asserted, referencing the dream of Africa’s post-independence leaders for a united and economically integrated continent.
Mene urged stakeholders—governments, investors, and private sector leaders—to seize the moment by channelling capital into digital infrastructure.
“Investment in data centres, cloud services, and digital highways is not just essential—it is urgent,” he emphasised.
Crucially, AfCFTA’s expansive mandate includes inclusive growth. The trade bloc has introduced its first-ever protocol dedicated to women and youth, a move designed to ensure that historically marginalised groups are not left behind in this new economic era.
By embedding equity into the trade framework, AfCFTA aims to build a truly inclusive digital and commercial ecosystem across its member states.
With a population of 1.3 billion people and a combined GDP of $3.4 trillion, AfCFTA is already the world’s largest free trade area by number of participating countries.
The Secretariat sees this scale as a unique advantage in driving industrialisation, innovation, and intra-African trade, particularly for small and medium-sized enterprises (SMEs).
Integrating SMEs
Mene reiterated the importance of integrating SMEs into regional supply chains, where they can benefit from expanded markets and enhanced competitiveness.
He also credited the African Export-Import Bank (Afreximbank) and other African financial institutions for their pivotal roles in enabling trade financing, boosting e-commerce, and supporting infrastructure development
“AfCFTA is no longer a future aspiration—it is today’s economic engine,” Mene concluded. “Africa’s digital potential is not just promising—it is powerful. And it is time to harness it.”
With the stage now set, the next decade could see Africa emerge not only as a global digital player but as a model for inclusive, tech-driven development in the Global South.
