Leaders from around the world, including many in Africa, have been sending congratulatory messages to U.S. President-elect Joe Biden and Vice President-elect Kamala Harris.
After four years of a U.S. administration that waged war on multilateral institutions, African hopes are high for a reset.
And it couldn’t come at a better time. As a collective, the continent is embarking on a new economic path.
In 2018, African heads of state signed an agreement that would bring to life the African Continental Free Trade Area (AfCFTA) a game-changer in African regional and international trade.
When it comes into effect in stages over the next several months and years, the AfCFTA will cover a market of more than 1.2 billion people and up to $3 trillion in combined GDP, with the potential of increasing intra-African trade by over 50 percent, according to the United Nations Economic Commission for Africa.