The Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Wamkele Mene, has described the continental trade agreement as Africa’s strategic shield against tariff weaponization amid increasing global trade instability. Speaking at the Pan African Regional Integrated Roundtable during the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, Mene called for urgent action to accelerate the adoption of the Pan African Payment and Settlement System (PAPSS) by African banks.
The high level discussion, themed on Unlocking Trade and Investment through the AfCFTA, was hosted by South Africa House on the sidelines of the WEF Annual Meeting that ran from January 19 to 23, 2026. The roundtable brought together policymakers, business leaders, and development partners to examine progress in implementing the continental free trade agreement and identify pathways to accelerate its impact. Mene told participants that the digital payment infrastructure must be rapidly scaled up to unlock the full potential of intra African commerce under the AfCFTA framework.
In his remarks, Mene highlighted the significant strides made in establishing the regulatory architecture necessary for the AfCFTA to function effectively. He pointed to the development of trade protocols, rules of origin, and dispute resolution mechanisms as evidence of the continent’s commitment to creating an integrated market of 1.3 billion people. The AfCFTA became operational in January 2021 with the aim of creating a single market for goods and services across 54 African countries.
However, the Secretary General devoted considerable attention to the current global trade environment, characterizing it as increasingly unstable due to shifting geopolitical dynamics and what he described as the growing weaponization of tariffs by major economies. Amid these global uncertainties, the AfCFTA stands as Africa’s most strategic response to protect and advance its trade interests, Mene asserted, underscoring the agreement’s role as both an economic integration tool and a defensive mechanism against external trade shocks.
Mene described lowering transaction costs and enhancing the competitiveness of cross border trade as critical priorities for the continent. PAPSS, a cost effective payment platform allowing businesses to pay and receive payments in local African currencies, has faced slower than expected adoption by commercial and central banks despite ongoing deployment efforts. By simplifying cross border transactions and reducing reliance on foreign currencies, PAPSS will enhance trade efficiency and promote financial inclusion, he explained.
The Secretary General’s attendance at Davos 2026 was part of a broader strategy to keep African trade integration at the heart of international dialogue between African decision makers and their international partners. Mene was a constant presence throughout the week in Switzerland, participating in multiple sessions including the launch of the Foresight Africa report organized by the Brookings Institution alongside Egyptian Minister Rania Al Mashat.
The WEF focused on taking stock of the Friends of the AfCFTA initiative, launched four years ago to rally international private sector support behind African economic integration. Around 40 multinational chief executives are involved, including Albert Bourla of Pfizer, James Quincey of Coca Cola, Sultan Ahmed bin Sulayem of DP World, and Vasant Narasimhan of Novartis. The Forum’s stated ambition is to move from broad pledges to measurable outcomes, notably in implementing the protocol on digital trade and developing regional value chains.
One showcase example this year is a pilot project within the East African Community, led by Coca Cola and several regional governments, to structure a local mango processing industry. This project represents the kind of concrete implementation Mene has emphasized in his shift toward delivery of measurable results rather than policy development alone.
The AfCFTA has made substantial progress since trading began. Currently, 46 tariff offers on trade in goods have been verified according to agreed liberalization modalities, and 48 member states have submitted initial trade in services offers in the five AfCFTA priority sectors. The Rules of Origin now cover approximately 92.4 percent, though the textile, clothing, and automobile sectors remain unresolved.
The estimated 80 billion dollar trade finance gap remains a critical barrier that disproportionately affects small and medium enterprises, women, and youth led enterprises. Banks and financial institutions have a pivotal role to play in bridging this gap by facilitating cross border payments, risk management, and access to capital. Mene has consistently urged financial institutions to leverage PAPSS and digital banking platforms to support these enterprises and informal traders.
The AfCFTA Adjustment Fund has already mobilized one billion dollars, with a target of 10 billion dollars or more to support industrial development, manufacturing, and the establishment of AfCFTA trade aggregating companies in member states. This fund was established to address economic disparities and ensure equitable benefits from intra African trade.
Mene’s appearance at Davos came as South Africa announced it would host a high level event with the WEF in 2027, following its G20 Presidency. The Secretary General has focused on expanding his professional circle in the AfCFTA’s best interests since his appointment in 2020. His stated objective is to release 50 million people from poverty before 2035, increase continental income by eight percent, intra African exports by 109 percent, and exports destined for other regions in the world by 32 percent.
The AfCFTA, with the potential to lift millions out of poverty and position the continent as a major player in global trade, combines a combined gross domestic product of over three trillion dollars across participating countries. The outcomes from Davos reinforce the AfCFTA’s commitment to strengthening collaboration between public and private sectors, building capacity for youth and small enterprises, modernizing trade infrastructure and systems, and ensuring that implementation serves Africa’s industrialization and value addition objectives.
