Benin and Nigeria, Africa’s largest economy, joined 53 other African Union nations at the group’s summit in Niger yesterday as signatories to the African Continental Free Trade Area, with only Eritrea holding out. The pact, which has been in the works since 2002, aims to build an economic bloc worth $3.4 trillion across the continent of 1.3 billion people. By eliminating tariffs on most goods, experts say the deal could potentially boost trade by as much as 60 percent.
What are the obstacles? Critics worry that a lack of infrastructure and economic diversity could hamper trade growth.
OZY looks at how currency exchange is hurting Zimbabwe.