Description

The developed world has long demonstrated that there is collective leverage
to be obtained in countries of the same continent, putting aside any differences they may have and optimising those opportunities that can be achieved through working together as a united economic and socio-political force. This is a function of countries that maintain the necessary levels of mutual trust as evidenced by electing to trade more with one another before considering other continents. This practice usually contributes to improved levels of economic growth and political stability. Several studies refer to the high levels of intra-trade in the European Union and Asia, amongst others, but the question that remains unanswered is why Africa, with all its natural resources, continues to lag behind. This research, therefore, aims to identify what needs to be done for Africa to realise its full potential. The current low levels of an estimated 12% to 18% intra-trade in the African continent require concerted efforts to improve financial outcomes to attain levels on par or even above those of its counterparts, such as the European Union (EU) and Asia, that are in excess of 60%. This study aims to identify the constraints that contribute towards the current sub-optimal intra-Africa trade activities and the recommended solutions in seeking to address these issues. The qualitative research methodology was determined to be most suitable because the study is based on real-life data and experiences from the sample size of eight respondents who are leaders and experts within the intra-Africa trade environment. The sampling method selected for this study is nonprobability sampling. The key findings indicate that due consideration should be given to the fact that for the implementation of the Africa Continental Free Trade Agreement to be scalable towards the realisation of the intended outcomes, the adoption and customisation of identified catalytic
digital solutions will play a central role in enabling the process. The findings
point to a conceptual framework for a continental social compact where all
key stake holders put their trust deficit pre-occupations aside and work collaboratively. The study recommendations are that in achieving the lofty ambitions of growing the economy of the continent, the key stakeholders comprising business, government, academia, social partners and labour should be willing to embrace the digital era; which, in this context, is underpinned by the Fourth Industrial Revolution technologies, such as blockchain, as a platform to enable the chosen e-commerce-based solutions.