Intra-African trade surged to $220.3 billion in 2024, fueled by the African Continental Free Trade Area (AfCFTA) and the growing influence of Morocco, Nigeria, and South Africa.
According to Afreximbank’s 2025 annual report, intra-African trade rose by 12.4% in 2024 after a 5.9% contraction the previous year—reaching approximately 2.155 trillion Moroccan dirhams. This growth signals renewed economic integration on the continent, largely driven by three major economies: Morocco, Nigeria, and South Africa.
“This recovery confirms that the African Continental Free Trade Area is becoming a powerful lever for economic self-reliance on the continent,” said Yemi Kale, Chief Economist at Afreximbank. However, he noted that only a fraction of Africa’s trade potential is currently being realised.
Morocco, positioned as a key logistical and industrial hub in Northwest Africa, plays a central role in this dynamic.
Its geostrategic location, proactive industrial policy, and targeted bilateral agreements have made it a major driver of the shift toward higher value-added intra-African trade.
Nigeria has more than doubled its intra-continental trade, reaching $18.4 billion (about 180 billion dirhams), surpassing the Democratic Republic of Congo (DRC), which recorded $11.4 billion. Uganda also made a strong showing, posting 28% annual growth and reaching $7.6 billion in trade.
While raw materials—such as minerals and agricultural products—still dominate trade flows, Afreximbank noted a sharp increase in manufactured goods, including machinery, automotive equipment, processed food products, and electronic components. Faisal Durrani, Director of Research at Pan-African Trade Analysts, stated: “This shift marks the emergence of a more structured African industrial fabric focused on local value addition.”
Despite this momentum, intra-African trade still falls short of its estimated potential of $296.3 billion. Roughly $77 billion in trade is yet to be unlocked, particularly in sectors such as machine tools, metals, and foodstuffs.
AfCFTA Secretary-General Wamkele Mene emphasised, “No integration will succeed without the consolidation of African value chains.”
Infrastructure deficits remain the main obstacle. The continent faces an annual shortfall of $100 billion needed to modernise transport, logistics, and digital connectivity. To address this, Afreximbank aims to double its financing to $40 billion by 2026, up from $20 billion in 2021. The Pan-African Payment and Settlement System (PAPSS) and a $10 billion adjustment fund are also supporting this ambition.
MK/sf/ac/lb/as/APA