The War Room: Harnessing Innovation – The African Youth’s Role in the African Continental Free Trade Area
Despite efforts by Africa-centric institutions like the African Union (AU) and other trade blocs in the region to spur economic growth through intra-trade, Africa’s intra-trade has remained subdued, and this is also despite there being common consensus by development economists and practitioners, that intra-Africa trade is the engine for economic growth and development. From 2007-2011, for instance, intra-African trade accounted for only 11% of Africa’s total trade, which was the lowest of any continent.
Meanwhile, in contrast, Asia and Europe hit the 50% and 70% mark respectively. However, by 2015, not only did Africa’s population double that of Europe to hit over 1,100 million, but Intra-African trade remained at $ 170 billion (which is 5% of intra-EU trade). Certainly, from the 2007-2015 period, a number of dynamics have come to the fore that have had a reactive impact on these numbers, but these statistics do provide a broad understanding of what has largely been the state of intra-African trade.
So, why does this problem persist? Ironically, globalisation! Globalisation is generally marketed as a predominantly beneficial phenomenon that has allowed the expansion of economic collaboration among countries. However, when we investigate its impact on the African continent specifically, concerning nuances emerge. Since the 1960s, African independence has – unfortunately for a number of countries – been a mirage. Real freedom for African countries has been redefined by the impact of neo-colonialism and globalisation. Of course, by neo-colonialism we would mean indirect hegemonic control of former colonies or developing countries by former European colonists and Western powers, while globalisation is seen as the integration of the global economy marked by free trade, free flow of capital, and the exploitation of cheaper foreign labour and raw material markets. Well, under neo-colonialism and the globalised world, though presumed independent, African countries have remained dominated and exploited.
In a time of bolder African leadership, we are witnessing an equally innovative spirit among African youth who are championing solutions to the continent’s challenges. We have had the opportunity to speak with two representatives from a university group in South Africa that has proposed a micro-scale solution for the African Continental Free Trade Area (AfCFTA), setting a precedent for its ongoing implementation across the continent.
From the innovators behind the Market Mingle project, Oboikanyo Mokoka and Koketso Matlou joined Lindokuhle Mabaso on the ‘War Room”.
The session concluded with an introduction to the Future Africa Leaders Foundation, which supports and mentors young Africans to cultivate leadership and tackle prevalent challenges, highlighting the importance of youth empowerment in Africa.
To dive deeper into the insights shared by Oboikanyo Mokoka and Koketso Matlou hosted by Lindokuhle Mabaso we invite you to watch the full interview embedded below. Discover their innovative ideas and how they plan to leverage the African Continental Free Trade Area for economic empowerment. Don’t miss out on this inspiring discussion!
Watch the Full Interview:
