The power of every nation is its sovereignty and independence. Most economic communities created across multiple countries are today trading sovereignty for better economic outcomes. With sovereignty being the right of every population, it is imperative that initiatives that trade away this vital asset demonstrate better economic outcomes for most of the people. While the outcome of stronger intra-African trade is more apparent for large countries and for large companies, it’s less so for smaller countries and much less for their small and medium-sized enterprises (SMEs).
SMEs are the vehicle for wealth creation and distribution among the majority of the people; they are truly the last mile and must be nurtured to realise growth and development on the continent. Accordingly, for a sustainable economic union such as the African Continental Free Trade Area (AfCFTA), we must ensure that the benefits accrue to SMEs as a means of getting the support of the population and ensuring its sustainability. The benefit of intra-African trade must be truly distributed to avoid disgruntled losers; if the losers are also voters, the consent to trade off economic sovereignty could be withheld.
