Ahead of next week’s 2025 Conference of African Ministers of Finance, Planning and Economic Development, a Committee of Experts has convened at the UN Conference Centre in Addis Ababa for a three-day technical meeting to evaluate Africa’s economic and social development and assess progress towards regional integration. This year’s Conference of Ministers is themed “Advancing the implementation of the Agreement Establishing the African Continental Free Trade Area: proposing transformative strategic actions.”
The Committee, meeting from 12-14 March, will also review statutory matters related to the Economic Commission for Africa (ECA) and provide recommendations for discussion by African ministers of finance, planning, and economic development during the ministerial segment on 17-18 March.
Opening the expert segment, Ethiopia’s State Minister of Finance, Semereta Sewasew, emphasized the urgency of unlocking Africa's economic potential through enhanced intra-African trade. She highlighted that the AfCFTA is more than a legal framework; it is a transformative initiative aimed at deepening economic ties across the continent. By facilitating trade, harmonizing policies, and removing barriers, the agreement seeks to drive industrialization, job creation, and poverty reduction—key elements of Africa’s Agenda 2063 for sustainable development.
Minister Sewasew acknowledged challenges to AfCFTA implementation, including infrastructure gaps, financing constraints, and varying capacities among member states. She urged delegates to propose actionable recommendations to ensure the agreement translates into tangible benefits, particularly for women, youth, and small and medium enterprises, which form the backbone of Africa’s economy.
She also reiterated Ethiopia's commitment to regional integration, citing significant investments in infrastructure, such as the Addis Ababa-Djibouti railway, which enhances trade connectivity across the Horn of Africa. Additionally, Ethiopia’s energy resources, particularly from the Grand Ethiopian Renaissance Dam, strengthen the country’s leadership in regional energy cooperation.
Antonio Pedro, Deputy Executive Secretary of the ECA, underscored the AfCFTA’s dual role as both a development blueprint and a political platform for Africa to assert its collective interests globally. He advocated for reducing Africa’s import dependencies and called on member states to harness local production capabilities for essential commodities such as fertilizers and refined petroleum.
Pedro noted that intra-African trade remains low, accounting for only 14.4% of total trade on the continent. However, he projected that trade within Africa could increase by 45% by 2045 if tariffs and non-tariff barriers are reduced.
He also highlighted the critical role of infrastructure development in realizing AfCFTA’s potential, stating that an estimated $411 billion is required to enhance transport infrastructure, including investments in railways, vessels, and trucks to support increased trade.
The outgoing Chair of the Conference of African Ministers from Zimbabwe commended the ECA’s efforts over the past year in supporting member states with macroeconomic stability, development planning, and industrialization. He reaffirmed the commitment to advancing these achievements and advocating for a fair global financial system as Africa seeks to transform its economies through the AfCFTA.
The Conference remains a premier platform for African ministers responsible for finance, planning, and economic development, as well as central bank governors, to engage in dialogue and exchange insights on issues critical to Africa’s growth and integration.
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