Africa Continental Free Trade Area (AfCFTA) Opens Many Opportunities for Young Professionals in Logistics, Transport and Supply Chain

According to UNICEF’s Generation 2030 Africa V2.0 report, by 2030 Africa will have the world’s largest youngest population group (between the ages 18 – 30). Africa is also becoming the world’s largest single market encompassing 55 counties, a population of 1.2 billion and a combined Gross Domestic Product (GDP) of US$3.2-trillion.

CILTSA President Elvin Harris CMILT explained: “The potential for Africa’s growth is huge! The signing of the African Continental Free Trade Area (AfCFTA) in March 2018 offers even more opportunities and benefits”. The objectives of AfCFTA are to create a continental market for goods and services, with free movement of people and capital, and to pave the way for creating a Customs Union. It will also grow intra-African trade through better harmonisation and coordination of trade liberalisation across the continent.

“Maximum continental economic development is required to ensure that the current and next generations become a demographic dividend, instead of suffering from extreme poverty,” said Harris. “The current constrained infrastructure – rail, roads, ports, electricity and ICT – is key to economic development”.

Infrastructure development underpins corridor development. “Corridors allow the flow of value both from Africa to global markets, but also within the continent – leveraging the AfCFTA – to grow the continental GDP,” explained Harris. “Corridors also expedite regional integration with increased probability of critical mass for certain economic activities. These opportunities are however delayed by slow infrastructure development, reducing the value exchange between the market and the supplier. The window of opportunity for certain types of minerals, may be limited. Slow infrastructure development may cause such value never to be unlocked for the continent.”

However, Harris believes that there are many opportunities for young professionals in logistics, transport and supply chain. “There are many options that the youth can explore in terms of career advancement:

• Upskill yourself
• Be prepared to relocate
• Start your own venture
• Move to a new industry
• Innovate

Referring to the COVID-19 pandemic, Harris said “Pandemics have come and gone before – the human race WILL overcome this! In our ‘new normal’, there will be setbacks and chances, but new ways and new growth is virtually guaranteed”.