How are West and North Africa implementing their AfCFTA strategies?

From May 21 to 22, 2026, in Lomé, representatives from ministries of trade, regional economic communities, the private sector, chambers of commerce, small and medium-sized enterprises, as well as several technical and institutional partners from West and North Africa will participate in a high-level regional workshop dedicated to AfCFTA implementation strategies.

This initiative is led by the United Nations Economic Commission for Africa (ECA), through its African Trade Policy Center and its subregional offices for West and North Africa, with financial support from the Open Society Foundations.

According to the ECA, the 50 African countries that have ratified the AfCFTA agreement are at different stages of its implementation. Furthermore, many of them are still facing challenges in harmonizing their national laws and regulations with AfCFTA requirements, reforming and strengthening institutional coordination

The purpose of this meeting is to assess progress made in implementing the AfCFTA, share experiences and best practices among member states, and identify remaining obstacles in order to define priority actions to accelerate the continent’s trade integration.

According to Ngone Diop, Director of the ECA Subregional Office for West Africa, despite existing constraints and challenges, West African countries have made remarkable efforts to implement their AfCFTA strategies.

“Ratifying the AfCFTA is not enough; we must prioritize its effective implementation. The ECA has supported 40 countries in developing their national strategies in West Africa, North Africa, and elsewhere. While constraints remain, successes have also been achieved regarding barriers and corridors, borders, tariffs, and non-tariff and trade barriers,” explained the director of the ECA Subregional Office for West Africa.

Against a backdrop marked by multidimensional crises and the impact of the conflict in the Middle East on global supply chains, discussions will also focus on the strategic role of the AfCFTA in strengthening Africa’s economic resilience and reducing the continent’s external dependence.

In Togo, the ECA contributed to the development of the national strategy for implementing the AfCFTA in 2019 and again in 2025, which serves as a framework for government policies.

Speaking on behalf of Togo’s Minister of Economy and Monitoring, Mensah Koffi welcomed the progress made in developing the new 2026–2030 national strategy.

“Our ambition is to make the AfCFTA a lever for structural transformation by genuinely strengthening our productive capacities, supporting innovation, and promoting better integration into regional value chains,” he stated.

The work is expected to result in common guidelines and strategic measures aimed at accelerating African economic integration through a more efficient, integrated, and resilient continental market.

According to ECA simulations, the full implementation of the AfCFTA could lead to a 45% increase in intra-African trade by 2045, representing nearly $276 billion in additional trade. The agri-food, manufacturing, and services sectors are among the main expected beneficiaries.

Total assets and contingencies rose by 21% to US$48.5 billion, up from US$40.1 billion as at 31 December 2024, underscoring the Bank’s consistent growth trajectory.

Net loans and advances for the Group closed the year at US$33.5 billion (FY’2024: US$29.0 billion), an increase of 16%, supported by continued disbursements across the continent and the Caribbean through various product offerings. The Group funded strategic priorities areas such as manufacturing, infrastructure, food security and climate adaptation.

The Group’s non-performing loan (NPL) ratio remained stable at 2.43% (FY’2024: 2.33%), demonstrating consistent portfolio quality.

The Group’s liquidity position remained robust, with cash and cash equivalents at US$6.0 billion (FY’2024: US$4.6 billion). Liquid assets accounted for 14% of total assets, above the Bank’s strategic minimum level of 10%. Shareholders’ funds grew by 17% to US$8.4 billion as at 31 December 2025, driven by net income of US$1.2 billion, and new equity inflows of US$299.4 million raised under the General Capital Increase II.

Gross Income increased by 6.06% reaching US$3.5 billion in FY’2025 from US$3.3 billion achieved in FY’2024.

Operating expenses increased to US$459.2 million (FY’2024: US$367.7 million), reflecting strategic staff expansion, and inflationary pressures with the Group maintained strong cost efficiency resulting in a cost-to-income ratio of 21% (FY’2024: 18%) well below the strategic ceiling of 30%.

Contrary to concerns raised by some rating agencies during the year, the Bank accessed international bond markets by successfully raising over US$800 million from Japan and China, courtesy of the Samurai and Panda bonds in 2025. This demonstrated the Group’s fund-raising capabilities and the solid nature of the Bank’s DNA as a pan-African multilateral financial institution committed to ensuring that Africa’s full and sustainable self-reliance remain firm.

Net income increased by 19% to US$1.2 billion in 2025, up from US$973.5 million in the prior year. These results were achieved through the expanded delivery of tailored financial and advisory solutions that supported trade, fostered industrialisation and enhanced economic self-reliance.

Highlights of the results for Afreximbank Group are shown below:

Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:

“Despite continuing global geopolitical challenges and disruptions caused by some rating actions, the Group delivered excellent financial performance in 2025, a fitting tribute to a decade of consequential leadership under Professor Oramah, with total assets and contingencies reaching $49 billion. Pleasingly, the Group is way ahead on most of it targets in delivery on its 6^th Strategic plan that ends on 31 December 2026. With recently established subsidiaries such as FEDA and AfrexInsure becoming profitable, Net income grew by 19% to stand at US$1.2 billion, underpinned by a strong capital base of US$8.4 billion. The Group’s balance sheet is at its strongest level ever, with liquidity levels and capitalisation well above target and good asset quality. These results are a testament to the unwavering execution by the Group’s hard working human capital. We entered 2026 financial year with significant momentum, ready to scale the Group’s impact, accelerate trade integration and value addition across Global Africa, and deliver greater value to our shareholders.”