By Baboloki Semele: Ahead of the 2025 Conference of African Ministers of Finance, Planning, and Economic Development, a Committee of Experts has gathered at the UN Conference Centre in Addis Ababa for a three-day technical meeting. The meeting, running from March 12 to 14, aims to review Africa’s economic and social development while assessing progress toward regional integration.
The discussions align with this year’s Conference of Ministers theme: “Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Actions.” The Committee’s findings and recommendations will be presented to African finance, planning, and economic development ministers during the ministerial segment from March 17 to 18.
Focus on Regional Integration and Economic Growth
During the opening session, Ethiopia’s State Minister of Finance, Semereta Sewasew, underscored the urgency of leveraging the African Continental Free Trade Area (AfCFTA) to unlock economic potential across the continent. She emphasized that the AfCFTA is not merely a legal framework but a transformative initiative aimed at deepening economic ties within Africa. By harmonizing policies, removing trade barriers, and facilitating commerce, the agreement is expected to drive industrialization, create jobs, and alleviate poverty—key objectives outlined in Agenda 2063, Africa’s long-term development blueprint.
Minister Sewasew acknowledged the challenges hindering AfCFTA’s implementation, including infrastructure deficits, financing constraints, and disparities in capacities among member states. She urged delegates to propose actionable strategies to ensure the agreement yields tangible benefits, particularly for women, youth, and small and medium enterprises (SMEs), which are critical to Africa’s economic landscape.
Ethiopia’s commitment to regional integration was highlighted through its investments in infrastructure projects such as the Addis Ababa-Djibouti railway, which strengthens trade connections in the Horn of Africa. Additionally, the country’s energy resources, particularly from the Grand Ethiopian Renaissance Dam, position Ethiopia as a key player in regional energy cooperation.
Calls for Enhanced Trade and Local Production
Antonio Pedro, Deputy Executive Secretary of the Economic Commission for Africa (ECA), emphasized AfCFTA’s role as both a development tool and a platform for Africa to assert its collective interests globally. He called for a reassessment of Africa’s dependency on imports, urging member states to enhance local production, particularly for commodities such as fertilizers and refined petroleum.
Pedro noted that intra-African trade remains low, accounting for only 14.4% of the continent’s total trade. However, he projected that intra-African trade could increase by 45% by 2045 if tariffs and non-tariff barriers are reduced. He further highlighted the need for infrastructure development, citing an estimated $411 billion requirement for transport infrastructure to support increased trade, including investments in railways, vessels, and trucks.
Commitment to Economic Transformation
The outgoing Chair of the Conference of African Ministers from Zimbabwe reviewed the ECA’s progress in supporting member states over the past year in areas such as macroeconomic stability, development planning, and industrialization. He reaffirmed Africa’s commitment to building on these achievements while advocating for a fair global financial system that supports economic transformation under AfCFTA.
The Conference of Ministers serves as a premier platform for African finance, planning, and economic development ministers, alongside central bank governors, to exchange views on pressing economic and developmental challenges facing the continent.
Key Side Events
In the lead-up to the ministerial segment, a series of side events will be held over the weekend, focusing on:
The Single African Air Transport Market, Free Movement of People, and AfCFTA
Innovative Financing for Sustainable Climate Finance and Debt Management in Middle-Income Countries
Empowering Businesses to Trade Under AfCFTA for Inclusive Growth and Decent Work
Food Security and Cross-Border Trade Amid AfCFTA Implementation
Making AfCFTA Work for African Youth: Challenges and Opportunities
Role of Subregional Multilateral Development Banks in Advancing Africa’s Development Goals
According to a press statement from ECA, the outcomes of these discussions will contribute to shaping strategies for accelerating Africa’s economic integration and ensuring sustainable development across the continent.
By Baboloki Semele: Ahead of the 2025 Conference of African Ministers of Finance, Planning, and Economic Development, a Committee of Experts has gathered at the UN Conference Centre in Addis Ababa for a three-day technical meeting. The meeting, running from March 12 to 14, aims to review Africa’s economic and social development while assessing progress toward regional integration.
The discussions align with this year’s Conference of Ministers theme: “Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Actions.” The Committee’s findings and recommendations will be presented to African finance, planning, and economic development ministers during the ministerial segment from March 17 to 18.