The total or partial lockdowns enforced by most African countries in the light of global health pandemic (COVID-19) has generated a socio-economic crisis within the region at a time when the African Continental Free Trade Area Agreement (AfCFTA) is in its critical phase of implementation. It is important to put into perspective, the implications of the COVID-19 pandemic which will inform the policy pathways to manage uncertainties around the agreement. The expectations of enhanced intra-Africa trade are being hampered by challenges such as border closure, travel bans, nationalism and uncertainty in tariffs and exchange rates. Also, the key question that comes to mind is – “How can the African Continental Free Trade Area provide economic opportunities post-COVID-19 pandemic accelerate industrialisation within Nigeria and Africa in general?”.
Taiwo Oyedele, Fiscal Policy Partner and Africa Tax Leader, shares insights on our publication, COVID-19, the AfCFTA and Key Considerations.