Abstract
One of the bitter legacies of colonialism in Africa is the creation of small unit states which reduced the singular and collective competitiveness of the states and the continent respectively in global economic and political affairs. It has therefore been the resolve of African leaders to pursue some forms regional integration in order to overcome the challenges. Consequently, from the pre-independence pan-Africanist philosophy, to the Organization of African Unity, OAU and today the African Union, this fundamental goal of building integration mechanisms has remained prevalent at the regional and sub-regional levels, leading to the desire to establish integration schemes for customs’ union, economic community, common currency, central bank and one parliament, and most currently that of the Free Trade Area in the Continent. This article sought to unpack some of the challenges of regional integration in general and those facing the AU’s continent-wide Free Trade Area and found that, though efforts towards regional integration in Africa have recorded some achievements including positive economic growth, they still fall short of achieving most of its laudable objectives especially in the face of such challenges ranging from over-ambitious targets, to the heterogeneity of the economies of members, among others. For effective regional integration in Africa, AU should basically resolve the identified knotty challenges that have frustrated a possible beneficial intra-regional trade which could subsequently lead to regional integration in Africa without which the drive for collective self-reliant development for Africa will always turn into a mirage, deepening the region’s dependence on the western powers.
Highlights
Africa is richly endowed with huge human and natural resources capable of making her the economic and political hub of the world, but, being split among “fifty-four” territories, with her markets as well balkanized into such bits, she remains without basis for large scale industrial complexes. Remains far from her real potentials as none of the constituent states is economically large enough to construct a competitive modern economy alone, providing basis for longstanding drive for an integrated African regional economy or sub-regional economies aimed at protecting the region from the rather suffocating global economic competition
This is a development strategy which anchors on regional integration schemes. This strategy has caught up the fancy of the third world as a viable development strategy since the end of colonialism following the success of regional integration schemes in Europe like European Economic Community, EEC
Theories of regional integration refer to the sum of intellectual interpretations and or assumptions of the processes, targets, and directions explored by states towards achieving collective and joint implementations of economic and political activities for the mutual benefit of the participating states
Summary
Africa is richly endowed with huge human and natural resources capable of making her the economic and political hub of the world, but, being split among “fifty-four” territories, with her markets as well balkanized into such bits, she remains without basis for large scale industrial complexes. The AU has defined and tried to implement this economic vision in many instruments and mechanisms, but these her collective economic vision and vision for Africa have not yet brought about the desired continental development and the Continent still remains grossly dependent on the Western technology and capital thereby deterring same goals it is set to achieve. This is not to say that the regional development interventions had zero achievements, for there are instances of economic growth and resolution of political crisis in many. It will assess the propensity of the Agreement in promoting sustainable development at the economic, social and cultural levels as well as integrating the divergent African markets and economies and as well determine constraints to these goals
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