The implementation of the African Continental Free Trade Area (AfCFTA) was expected to reduce extreme poverty in Africa. Across Central, Eastern, Western, and Southern Africa, millions of people are forecast to be affected by this reduction. For instance, in Western Africa, over 12 million people living in extreme poverty would be relieved in 2035 due to AfCFTA initiatives, rising from around 4.5 million and 10.7 million people in 2025 and 2030, respectively.
In May 2019, the AfCFTA agreement officially entered into force after 22 African countries had ratified it. The agreement sought to boost inter-regional trade.
Number of people lifted out of extreme poverty due to African Continental Free Trade Area (AfCFTA) implementation in Africa from 2020 to 2035, by region
(in millions)
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World Bank. (July 27, 2020). Number of people lifted out of extreme poverty due to African Continental Free Trade Area (AfCFTA) implementation in Africa from 2020 to 2035, by region (in millions) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1340884/reduction-in-extreme-poverty-in-africa-due-to-afcfta-by-region/
World Bank. "Number of people lifted out of extreme poverty due to African Continental Free Trade Area (AfCFTA) implementation in Africa from 2020 to 2035, by region (in millions)." Chart. July 27, 2020. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1340884/reduction-in-extreme-poverty-in-africa-due-to-afcfta-by-region/
World Bank. (2020). Number of people lifted out of extreme poverty due to African Continental Free Trade Area (AfCFTA) implementation in Africa from 2020 to 2035, by region (in millions). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1340884/reduction-in-extreme-poverty-in-africa-due-to-afcfta-by-region/
World Bank. "Number of People Lifted out of Extreme Poverty Due to African Continental Free Trade Area (Afcfta) Implementation in Africa from 2020 to 2035, by Region (in Millions)." Statista, Statista Inc., 27 Jul 2020, https://www.statista.com/statistics/1340884/reduction-in-extreme-poverty-in-africa-due-to-afcfta-by-region/
World Bank, Number of people lifted out of extreme poverty due to African Continental Free Trade Area (AfCFTA) implementation in Africa from 2020 to 2035, by region (in millions) Statista, https://www.statista.com/statistics/1340884/reduction-in-extreme-poverty-in-africa-due-to-afcfta-by-region/ (last visited December 22, 2024)
Number of people lifted out of extreme poverty due to African Continental Free Trade Area (AfCFTA) implementation in Africa from 2020 to 2035, by region (in millions) [Graph], World Bank, July 27, 2020. [Online]. Available: https://www.statista.com/statistics/1340884/reduction-in-extreme-poverty-in-africa-due-to-afcfta-by-region/
