A survey by the Pan-African Committee on Private Sector Trade and Investment (PAFTRAC) found that 93% of executives in small and medium-sized enterprises (SMEs) sampled across Africa were enthusiastic that the free trade agreement would improve activities on the mainland.
In March 2018, African countries signed the African Continental Free Trade Area, which commits countries to removing tariffs on 90% of goods and addressing a range of other non-tariff barriers.
"The survey clearly shows that the vast majority of African CEOs believe that the implementation of the Free Trade Area will have a positive effect on intra-African trade levels," the report reads in part.
"A total of 93% were confident it would have a positive impact, with 25% describing themselves as very confident."
Last month, Kenya shipped its first shipment of locally made batteries to Ghana, two months after it was chosen from seven countries to pilot the continental free trade area.
Upon successful implementation, the agreement will create a single African market of more than one billion consumers with a total GDP in excess of US$3 trillion, making Africa the world's largest free trade area in terms of population and geographic size.
