A Lusaka based Financial Analyst says the African Free Continental Trade Area will boost intra trade within the region.
On Sunday, President Edgar Lungu signed the African Continental Free Trade Area Agreement.
It was witnessed by Albert Muchanga, African Union Commissioner for Trade and Industry who signed on behalf of the African Union.
Speaking during Money FM Business Radio’s Behind the Markets Segment, Munyumba Mutwale of Vennex Capital says the agreement will make trade more attractive for African countries.
Mr. Mutwale also notes that this agreement will accord African countries to depend on each other for trade.
He says one positive that this agreement will come with is the fact that it will create one market for Africa.
Mr. Mutwale further noted that this agreement will result in enhanced competition amongst the African countries.
The Financial Analyst said this is an opportunity for Zambia to grow the manufacturing sector given the fact that the country has cheaper raw materials that are required to produce certain products.
He cites Ethiopia where the country is converting plastic bags into diesel saying Zambia should be innovative.
“We have all these raw materials but I think the challenge that remains is convergence of these materials into finished products. We have a lot of cheaper raw materials which can help us grow the manufacturing base,” he said.

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