The African Continental Free Trade Area (AfCFTA) will deliver meaningful benefits to businesses only if African countries strengthen cross-border payment systems, modernise customs and improve trade infrastructure, Secretary-General of the AfCFTA Secretariat, Wamkele Mene, has said.
Mene made the call during a fireside conversation with George Asamani, Managing Director for Sub-Saharan Africa at the Project Management Institute (PMI), at PMI’s Global Summit Series in Cape Town, South Africa.
Speaking on the summit theme, “Africa Delivers M.O.R.E. Together,” Mene said the success of Africa’s single market would depend not only on trade agreements but also on the systems that allow businesses to transact across borders efficiently.
He identified the alignment of national policies, modernisation of customs procedures and the expansion of cross-border payments in local currencies as key priorities.
“We all have a contribution to creating a single integrated market,” Mene said.
He illustrated the cost of fragmented African markets with a transaction between businesses in Ghana and Kenya. Despite trading within the continent, companies may still need to convert through a third currency, typically the US dollar, to complete transactions.
Mene estimated that currency conversion costs associated with intra-African trade could amount to about $5 billion annually.
He pointed to the Pan-African Payment and Settlement System (PAPSS), developed by Afreximbank in collaboration with the AfCFTA Secretariat, as one of the mechanisms capable of reducing such friction.
PAPSS enables participating businesses to make cross-border payments in local currencies, reducing the need for third currencies and potentially lowering transaction costs.
Mene said the example demonstrated why the practical mechanics of integration matter as much as the agreement itself.
For businesses, access to a continental market depends on whether payment platforms, customs procedures, transport networks and other supporting systems can function efficiently across borders.
Making trade easier will also require customs authorities to consistently implement agreed rules, while governments align domestic policies with continental commitments.
Asamani said this would increase demand for professionals capable of coordinating complex programmes involving multiple institutions and countries.
“A continental agreement becomes meaningful when a business can use it,” he said. “That depends on people who can coordinate institutions, manage risk, deliver reliable systems and keep the intended benefit in view.”
He added that project management provides the discipline required to translate policy commitments into services and infrastructure that businesses can actually use.
Mene also addressed concerns that trade liberalisation could expose domestic industries to increased competition.
He said AfCFTA includes safeguards designed to protect vulnerable sectors, while adjustment support could help businesses manage disruption as markets become more integrated.
“We have rules that protect infant industries in a country,” he said.
He stressed the importance of identifying potential losses and supporting affected businesses while combining domestic reforms with continental cooperation to help African companies compete in larger markets.
Infrastructure, he added, remains central to the integration agenda.
Mene called for greater attention to project preparation and trade-related infrastructure, alongside investment in digital systems. He also highlighted the Digital Trade Protocol and its potential role in creating an enabling environment for emerging technologies and data-centre investment.
This, he said, makes effective project preparation an important part of Africa’s integration strategy.
Infrastructure projects must be designed with consideration for how they will interact with customs processes, digital services and the institutions responsible for operating them.
Asamani said developing the skills of African project professionals would be critical to delivering such cross-border initiatives.
