Leaders launch biggest free zone as they eye share of Sh340tr Africa trade

GDP of African countries. [Reuters]

African leaders launched a continental free-trade zone on Sunday that if successful would unite 1.3 billion people, create a Sh340 trillion ($3.4 trillion) economic bloc and usher in a new era of development.

After four years of talks, an agreement to form a 55-nation trade bloc was reached in March, paving the way for Sunday’s African Union summit in Niger where Ghana was announced as the host of the trade zone’s future headquarters and discussions were held on how exactly the bloc will operate.