The vision of Afrexim, its African governments and institutional shareholders to birth AfCFTA and PAPSS is very commendable. Working with private sector financial service players and fintechs, Africa can build an inclusive network of coordinated financial rails that link Africa end-to-end across borders to trade. It would birth a more inclusive and shared prosperity in Africa, where no-one’s geographic location or social situation prevents them from being partakers of a new more prosperous and economically-integrated Africa.
Africa’s people have historically traded among themselves, informally, over time. Colonial borders later came to divide people who would consider themselves as one from way back, and who sometimes shared a common language and culture. Despite this, Africa does not trade well enough with itself. Inter-Africa trade as a share of Africa’s trade with the world is 15%, compared to 60% with Asia, and 70% with Europe. Barriers to good inter-African…
