The Protocol on Competition Policy is an important agreement among the member states of the African Continental Free Trade Area (AfCFTA) that seeks to establish a framework for cooperation in matters related to competition policy. The protocol includes several key elements that will have both pros and cons to member states;

Pros:

1. Promotes Fair Competition: One of the key benefits of the protocol is that it promotes fair competition in the market by prohibiting anti-competitive practices such as price-fixing and abuse of dominance. This will create a level playing field for businesses and will encourage them to innovate and invest in the market. It will also protect consumers from anti-competitive practices, ensuring that they get the best products and services at competitive prices.
   
   
2. Encourages Innovation and Investment: The protocol aims to promote efficiency, innovation, and investment in the market. This will encourage member states to adopt measures that promote competition, such as the liberalization of markets and the establishment of national competition authorities. This will create an environment that encourages businesses to innovate and invest in the market, which will ultimately benefit consumers.
   
   
3. Provides Consistent and Clear Competition Policies: The protocol provides member states with a framework for developing consistent and clear competition policies. This will help member states to develop effective policies that promote competition, protect consumers, and create a level playing field for businesses.
   
   
4. Establishes a Competition Commission: The protocol establishes a Competition Commission that will be responsible for overseeing the implementation of the competition policy. This Commission will investigate anti-competitive practices, assess market concentration, and make recommendations to member states on competition-related matters. This will ensure that all member states are held accountable for their actions and will promote fair competition in the market.

Cons:

1. May Create Barriers to Entry: One potential downside of the protocol is that it may create barriers to entry for new businesses. Some member states may use competition policy as a tool to protect their domestic industries and prevent new businesses from entering the market. This could lead to reduced competition and higher prices for consumers.
   
   
2. Requires Significant Resources: The protocol will require significant resources to implement, particularly for smaller member states with limited resources. Establishing a Competition Commission and developing effective competition policies will require significant funding, expertise, and administrative capacity.
   
   
3. May Be Difficult to Enforce: Enforcing competition policy can be difficult, particularly in markets where there is a high degree of corruption. Member states may not have the resources or the political will to enforce competition policy effectively, which could undermine the effectiveness of the protocol.
   
   
4. Could Create Conflicts Among Member States: The protocol may create conflicts among member states, particularly if one-member state feels that another is engaging in anti-competitive practices. This could lead to disputes and undermine the overall effectiveness of the AfCFTA.

In conclusion, the AfCFTA Protocol on Competition Policy has both pros and cons for member states. While it will promote fair competition, encourage innovation and investment, and provide member states with a framework for developing consistent competition policies, it may also create barriers to entry, require significant resources to implement, be difficult to enforce, and create conflicts among member states. It is important for member states to work together to ensure that the protocol is implemented effectively and that its benefits are maximized while minimizing its potential drawbacks.