The Future Report, “Making the AfCFTA work for women and youth,” is a comprehensive publication that examines the potential of the African Continental Free Trade Area (AfCFTA) in promoting economic growth and reducing poverty in Africa, with a particular focus on women and youth.
The report begins by providing an overview of the AfCFTA and its potential benefits, which include increased trade, investment, and economic growth. However, the report also notes that the AfCFTA faces several challenges, including limited infrastructure, inadequate legal frameworks, and discriminatory social norms. These challenges are particularly acute for women and youth, who constitute the majority of the African population.
To address these challenges, the report recommends several policy interventions that can help to promote the participation of women and youth in the formal economy. One key intervention is affirmative action, which can help to increase the representation of women and youth in leadership positions, as well as in key sectors of the economy. The report also recommends investment in education and skills development, which can help to address the skills gap that currently exists in many African countries. This investment can take the form of increased spending on education, as well as vocational training and apprenticeship programs.
Another important intervention is the use of digital technologies to increase access to finance and markets. The report notes that women and youth often face significant barriers to accessing finance, including lack of collateral and limited financial literacy. Digital technologies, such as mobile money and e-commerce platforms, can help to overcome these barriers by providing more accessible and convenient financial services.
The report also highlights the importance of addressing discriminatory social norms, which can limit the economic opportunities available to women and youth. This can include interventions such as public awareness campaigns, legal reforms, and targeted support for women and youth-led businesses. Overall, the report concludes that the AfCFTA has the potential to transform the African continent, but this potential can only be realized if women and youth are at the center of the trade agenda. By investing in women and youth, Africa can unleash the full potential of its human capital, and achieve inclusive and sustainable economic growth. Click here to download the document
