AfDB and CFC Forge Private Sector-Led Strategy to Accelerate AfCFTA Gains

In a landmark step toward fast-tracking Africa’s economic integration, the African Development Bank (AfDB) and Casablanca Finance City (CFC) convened a high-level strategic dialogue in Casablanca on 23 July 2025, with a strong focus on galvanizing private sector participation in the African Continental Free Trade Area (AfCFTA).

Themed “Connecting Africa – The AfCFTA Pathway,” the gathering brought together prominent private sector leaders, pan-African institutions, development finance bodies, and thought leaders to deliberate on the core enablers of a fully functional continental free trade area.

Who Was at the Table?

The dialogue featured senior representatives from leading institutions, including the Arab Maghreb Union (UMA), Afreximbank, the African Union Development Agency (AUDA-NEPAD), West African Development Bank (BOAD), OCP Group, Attijariwafa Bank, Africa50, Tanger Med Zone, Orange, Africa Prosperity Network, and Boston Consulting Group, among others.

Participants examined the progress of AfCFTA implementation, emphasizing the importance of private sector mobilization, infrastructure financing, and operational regional value chains to unlock the full economic potential of the agreement.

The AfCFTA Opportunity: A $3.4 Trillion Market

Africa's free trade agenda is poised to reshape global trade dynamics. With 1.5 billion people and a combined GDP of $3.4 trillion, the AfCFTA is the largest free trade zone globally by number of participating countries.

Forecasts suggest that intra-African trade could increase by 52% by 2035 with the full removal of tariff and non-tariff barriers. This would significantly enhance Africa’s economic resilience and self-sufficiency in the face of shifting global supply chains and economic fragmentation.

“Africa is home to 11 of the world’s 20 fastest-growing economies,” noted several speakers, referencing recent IMF and World Bank data. “The momentum is here, but it must be harnessed through intentional, cooperative action.”

Strategic Priorities and Private Sector Mobilization

The AfDB’s Director for Regional Integration, Joy Kategekwa, emphasized the need for collaboration with regional business actors and financial hubs.

“We are here to lay the foundation for a partnership with CFC, a key player capable of bringing together major operators in Morocco and Africa to harness the full potential of the AfCFTA,” she said.

Lamia Merzouki, Chief Operating Officer of Casablanca Finance City Authority, reiterated that the AfCFTA will not succeed without strong private sector leadership.

“Today’s dialogue is about mobilizing concrete tools to stimulate intra-African trade, identify investment opportunities, and integrate African businesses into regional value chains,” Merzouki said.

Achraf Tarsim, AfDB Country Manager for Morocco, pointed to the bank’s ongoing support for transformative infrastructure, including roads, ports, logistics corridors, and dedicated credit lines designed to unlock trade and investment bottlenecks across Africa.

Bridging the Infrastructure Financing Gap

A recurring theme was the urgency of closing Africa’s annual $130 billion infrastructure financing shortfall, which remains a major constraint to trade facilitation and industrial competitiveness.

Panelists emphasized that to support “Made in Africa” industrial development, the continent needs to invest heavily in economic corridors, including not only physical infrastructure but also digital systems, legal frameworks, and technical ecosystems that encourage regional integration.

Casablanca Call to Action: Four Pillars of Engagement

At the end of the conference, delegates issued a Casablanca Call to Action, proposing the creation of a private sector-led implementation platform based on four key operational priorities:

1. Accelerate Market Access

Establish public-private dialogues, policy frameworks, and a suite of practical tools — including market intelligence, policy recommendations, and a continental directory of bankable projects — to ease entry into AfCFTA markets.

2. Bridge Infrastructure Gaps

Develop integrated economic corridors with sustainable transport and digital infrastructure, and incentivize private capital mobilisation through regulatory reforms and investment facilitation.

3. Enhance Regional Financial Integration

Harmonize capital markets, expand trade finance, and mobilize innovative instruments such as blended finance, pan-African investment funds, and guarantee schemes to support transformative initiatives.

4. Position Financial Centres as Catalysts

Empower financial hubs like Casablanca to serve as gateways for investment, incubators for African businesses, and platforms for advocacy, training, and talent attraction to boost AfCFTA adoption.

Building the Private Sector Voice in AfCFTA

The proposed platform will serve as a strategic mechanism to amplify the voice of African private enterprises in shaping, implementing, and benefiting from the AfCFTA.

Organizers stressed that business-friendly environments, transparent regulations, and consistent policy support are essential to unlock the full potential of Africa’s intra-continental trade ambitions.

As Africa moves to claim its position in global commerce, the Casablanca dialogue marks a critical milestone in aligning financial leadership, institutional strategy, and private sector innovation to turn the AfCFTA vision into reality.