An appraisal of strategic alliances in fostering regional economic development: A study of the African Continental Free Trade Area in Abuja
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Background of the Study
Strategic alliances have become a cornerstone for promoting regional economic development in a globalized world. The African Continental Free Trade Area (AfCFTA) represents a transformative initiative aimed at boosting intra-African trade and enhancing economic integration across the continent (Okeke, 2023). In Abuja, the implementation of AfCFTA policies is expected to create new economic opportunities, stimulate industrial growth, and reduce barriers to trade among African nations. By establishing a unified market, the AfCFTA encourages the development of regional supply chains, facilitates technology transfer, and attracts foreign direct investment (Chima, 2024). Strategic alliances formed under this framework allow nations to leverage their collective bargaining power and address common developmental challenges. Nevertheless, challenges such as infrastructural deficits, regulatory mismatches, and political divergences can impede the full realization of these benefits (Ibrahim, 2025). This study critically appraises the role of strategic alliances fostered by the AfCFTA in promoting regional economic development in Abuja. It investigates the mechanisms through which these alliances contribute to economic growth and examines the barriers that hinder their effective implementation. The research aims to provide insights into how coordinated economic policies can drive sustainable development and competitive advantage in a rapidly evolving global market.
Statement of the problem
Despite the potential of the AfCFTA to transform regional economies, significant challenges remain in translating strategic alliances into tangible economic growth. In Abuja, issues such as infrastructural inadequacies, inconsistent regulatory frameworks, and political uncertainties have limited the effectiveness of these alliances (Uche, 2023). The disconnect between policy intentions and practical outcomes raises concerns over the capacity of AfCFTA-driven initiatives to deliver sustainable development. This study seeks to identify the specific obstacles that hamper regional economic integration and propose viable strategies for overcoming them.
Objectives of the Study
To evaluate the impact of strategic alliances under AfCFTA on regional economic development in Abuja.
To identify challenges and barriers to effective economic integration.
To propose policy recommendations for enhancing the success of strategic alliances.
Research questions
How do strategic alliances under AfCFTA foster regional economic development in Abuja?
What are the main challenges hindering effective implementation of these alliances?
What policy measures can enhance the impact of AfCFTA on regional economic growth?
Significance of the Study
This study is significant as it provides a critical appraisal of how strategic alliances within the AfCFTA framework drive regional economic development. Its findings will aid policymakers, regional economic planners, and business leaders in crafting strategies that maximize the benefits of economic integration and address existing barriers (Okeke, 2023; Chima, 2024).
Scope and Limitations of the Study
This study is limited to analyzing the role of strategic alliances under AfCFTA in promoting economic development in Abuja and does not extend to other regions or sectors.
Definitions of terms
Strategic Alliances: Collaborative partnerships between nations or organizations aimed at achieving shared economic or strategic objectives.
AfCFTA: The African Continental Free Trade Area, an initiative designed to enhance intra-African trade and economic integration.
Regional Economic Development: The process of improving economic well-being and quality of life within a specific geographic area through coordinated policies and initiatives.
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