The African Continental Free Trade Area (AfCFTA), a key initiative under Agenda 2063, is expected to drive the social and economic progress of countries of the African region. The AfCFTA includes 54 member states and aims to create a single market for commodities. It further facilitates the movement of people, capital, and investments across African countries. While the literature highlights numerous benefits from such trade liberalisation, the socio-economic impacts are rather diverse and country-dependent. The present paper critically analyses the social and economic effects of the AfCFTA, taking into consideration that different countries have varying implementation and institutional capabilities. To further probe into the impact of the AfCFTA on economic growth, an econometric analysis is conducted. Overall, the findings show the advantages of the AfCFTA in promoting the socio-economic performance of African countries.