The Pan-African Private Sector Trade and Investment Committee (Paftrac) has released the results of its survey on international and regional trade. According to the study, 400 business owners in 46 African countries are confident that their business will grow next year.

Targeted companies are optimistic about the outlook for their business, industry and economic growth over the next 12-18 months. In addition, 87% of respondents believe that intra-African trade will increase, thanks to the Free Trade Zone, Zlecaf.

More than 71% believe that the Zlecaf will encourage them to invest to develop their activity at the regional level. More than 57% also think it will open up new markets and more than 62% think it will provide the frameworks needed to export more regionally. The top four export destinations in Africa are South Africa (27%), Ghana (25%), Kenya (25%) and Nigeria (19%).

Paftrac points out that the optimism of these business leaders stems more from their faith in international and regional trade agreements, such as the improved business opportunities enabled by the Zlecaf, rather than because of national economic recovery strategies. , such as the reduction of restrictions due to Covid or a better national business climate.