EXPERTS say the bulk of Zimbabwean businesses are not yet prepared to participate in the African Free Continental Trade Area (AfCFTA) even though it presents a new impetus for investment, trade and industrialisation in line with the country’s development plans.
AfCFTA, the world’s largest free-trade area, began trading on January 1, 2021, creating a market of 1,2 billion people and the world’s eighth economic bloc with a combined gross domestic output of US$3 trillion, which is predicted to more than double by 2050.
Zimbabwe Economic Society president Nigel Chanakira recently told The Financial Gazette that Zimbabwean businesses need to stop overpricing to become more competitive.
Nigel Chanakira
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