SOLUTIONS PROFFERED FOR IMPLEMENTATION OF AFCFTA

MBABANE – In order for the full implementation of the African Continental free Trade Area (AfCFTA), key solutions were taken during the recent Biashara Afrika.

Biashara Afrika was held in Kigali, Rwanda from October 9 to 11, 2024 under the theme: ‘Daring to Invent the Future of the AfCFTA’.  The landmark event, which brought together about 1 500 participants from 62 countries, was co-hosted with the Government of Rwanda under the patronage of Paul Kagame, President of the Republic of Rwanda.  During this meeting, Eswatini was represented by the Prime Minister, Russell Mmiso Dlamini.

Notable solutions proffered include:

• Increased advocacy and sensitisation of stakeholders on the AfCFTA and all available tools under the agreement.
• Harnessing technology to support infrastructural development.
• Trade finance revolution to respond to existing gaps.
• Improve data collection on key indices.
• Revise educational curriculum to meet labour market needs.
• Creation of more AfCFTA trading companies.
• Reform procurement mechanisms to focus on pooled procurement to leverage volume.
• SME business aggregation .
• Public-private partnership on trade policy formation and implementation.
• youth participation in intra-African trade.

The forum attracted participants ranging from high-level government officials, business leaders, industry experts, Small and Medium Enterprises (SMEs) with notable turn out of youth and women entrepreneurs. The theme of the Forum together with the carefully curated programme set the tone for emboldened, and vision driven discussions on the transformative agenda of the AfCFTA.The solutions include increased advocacy and sensitisation of stakeholders on the AfCFTA and all available tools under the agreement. Another solution is on harnessing technology to support infrastructural development.

The participants also took decision on trade finance revolution to respond to existing gaps. They also took a decision on improving data collection on key indices. They also discussed to revise educational curriculum to meet labor market needs and creation of more AfCFTA trading companies. It was also resolved to reform procurement mechanisms to focus on pooled procurement to leverage volume, SME business aggregation and Public-private partnership on trade policy formation and implementation.

Futuristic solutions include the liberalisation of trade facilitation infrastructures such as air transport market, regional and continental shipping and maritime sector; redesigning trade corridors to facilitate intra-Africa trading. In addition to the various activities on the forum agenda, the signing of three Memoranda of Understanding (MOU) between three African trading companies, connecting Kenya, Ghana, Rwanda and Egypt was an inspiring demonstration of the power of collaboration and a firm attestation that the AfCFTA is empowering the African private sector with information and tools to utilise the agreement and enhance Africa’s economic integration.

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