African finance ministers, policymakers, and stakeholders convened at the United Nations Economic Commission for Africa (UNECA) headquarters in Addis Ababa for the 43rd Committee meeting from March 12 to 18, 2025 urged for a speedy implementation of the African Continental Free Trade Area (AfCFTA).
Despite being established seven years ago, AfCFTA’s progress remains slow. Officials stressed the need for tariff reductions, elimination of non-tariff barriers, and stronger private sector engagement to unlock its full potential. UNECA projects that AfCFTA could boost intra-African trade by 45% by 2045, fostering industrialization and economic diversification.
The discussions centered on accelerating the implementation of the AfCFTA and optimizing ICT tax policies to drive economic growth.
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The meeting further highlighted Africa’s digital transformation challenges. With internet access still limited to 38% of the population and broadband costs significantly higher than the global average, experts urged African governments to reduce ICT taxes to spur connectivity and job creation.
UNECA’s findings show that cutting broadband taxes in Ethiopia, Kenya, and Tanzania could create millions of jobs and expand internet penetration.
