Igniting Prosperity in Malawi: A Catalyst for Economic Ascendance
Key Business Points
- Integration and unity are key to unlocking Africa’s economic potential, with the African Continental Free Trade Area (AfCFTA) set to create a market of over 1.3 billion people and a combined GDP of up to $3.4 trillion.
- Intra-African trade is expected to increase by up to 110 percent with the implementation of the AfCFTA, lifting millions of people out of poverty and creating decent jobs, inclusive growth, and sustainable development.
- Private sector-led production and ease of doing business are crucial to Africa’s economic growth, with a renewed call for visa-free travel and the acceleration of the African Union’s Free Movement Protocol to enhance trade and investment opportunities.
The Borderless Africa Forum and Policy Dialogues, held at the African Union (AU) headquarters in Addis Ababa, Ethiopia, brought together journalists, filmmakers, influencers, and content creators to discuss the possibility of Africa’s reconnection and unity. The event coincided with the anniversary of the Berlin Conference, where Africa was partitioned without African representation or voice. Anne Osamba, Campaign and Advocacy Lead at African Rising, emphasized the need to rewrite this narrative by amplifying unity, mobility, and shared progress.
The conversation centered around the AU’s Agenda 2063 and its flagship initiative, the African Passport and Free Movement of People, which aims to ensure freedom for people to travel across the continent and ease processes in the movement of goods. Ambassador Fred Ngoga, Senior Adviser for International Partnerships at the AU Commission, noted that integration is not just a policy, but about people experiencing freedom across their own continent.
The AfCFTA, one of the AU’s flagship projects, has the potential to dominate the list of the world’s fastest-growing economies. With all 55 member states brought together in an intra-African continental free trade area, the AfCFTA could leverage intra-African trade and increase trade among member states by up to 110 percent. This, in turn, could lift up to 30 million people out of extreme poverty and up to 68 million people out of moderate poverty.
As Hardi Yakubu, Coordinator of Africans Rising Movement, challenged the continent to move beyond historic grievances and localize the borderless campaign, it is clear that Africa is poised to achieve collective prosperity. The declaration made by the delegates, "We are the Borderless Africa," highlights the continent’s commitment to unity and integration. With the AfCFTA and other initiatives, Africa is set to become a giant in its own right, with a growing market and increased trade opportunities. As Malawian entrepreneurs and business owners, it is essential to take advantage of these opportunities and ziwa mpingo, or seize the moment, to expand their businesses and contribute to the continent’s economic growth.
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