AfCFTA to focus on young entrepreneurs next year - Wamkele Mene

Secretary-General of African Continental Free Trade Area (AfCFTA), Wamkele Mene, has disclosed that from next year, the secretariat will focus on roping in young entrepreneurs into the trade initiative. According to him, products traded under AfCFTA are value-added goods that are locally manufactured from various countries of origin. Speaking at a press conference in Accra on Thursday, Wamkele Mene said, "We have agreed that next year the focus for the guided trade initiatives will be on young entrepreneurs. Now, they can benefit from the AfCFTA." He also noted that AfCFTA is for the private sector, Small Medium Enterprises (SMEs), smallholder farmers, among others. Meanwhile, Ghana, Egypt, Cameroon, Mauritius, Rwanda, Tanzania and Tunisia are the 7 countries participating in AfCFTA. The products traded include ceramic tiles, car batteries, pharmaceuticals, palm kernel oil, coffee, rubber, tea, components for air conditioners, among others. AfCFTA was introduced in 2018 with the aim of creating a single market for Africa, as well as, ensuring the free movement of goods and services on the continent. This free movement of goods and services will help expand Intra-African trade. This implies that goods will be sold at a relatively cheaper price because of the increase in production which will, in turn, create both direct and indirect jobs for the teeming unemployed youth. The free trade area also provides traders and importers an opportunity to stay competitive. Businesses when conducted in a free and safe environment will help reduce poverty in member states as well as create sustainable development. Watch the latest episode of BizTech below: ESA/FNOQ