Paris, France, 19 November 2024 -The Secretary-General of the AfCFTA Secretariat, H.E. Wamkele Mene, addressed Ambition Africa 2024 in Paris, France, under the theme “Africa’s Economy: Towards New Heights.” In his remarks, he highlighted Africa’s dynamic growth, noting that 11 of the 20 fastest-growing economies in 2024 are on the continent. He also underlined the pivotal role of Africa’s youth in driving innovation, entrepreneurship, and digital transformation, as the continent’s population is set to reach 2.5 billion by 2050.

H.E. Mene presented the progress made in the implementation of the AfCFTA, highlighting achievements such as the Guided Trade Initiative and the establishment of Trade Aggregating Companies. While acknowledging the challenges facing the continent, particularly in infrastructure and logistics, he emphasised that these should be viewed as opportunities for investment. Africa, with the AfCFTA as a foundation, is positioned to become the most competitive region in the world within the next 30 to 50 years.

The Secretary-General also underscored the AfCFTA’s potential to transition Africa from being a supplier of raw materials to a competitive producer of high-value goods and services. He called on French businesses to seize the opportunities within the AfCFTA’s unified market by investing in regional value chains, infrastructure, and sustainable development sectors such as renewable energy, agro-processing, and manufacturing.

Ambition Africa 2024 served as a leading platform for fostering collaboration between Africa and France. It showcased the transformative opportunities presented by the AfCFTA and underscored the importance of partnerships founded on mutual respect and long-term commitment. This engagement reinforced the strategic ties between Africa and France, charting a collaborative path towards shared prosperity.