STAFF WRITER
The International Trade Centre (ITC) says the African Continental Free Trade Area (AfCFTA),which was operationalised in January this year, provides an opportunity for women entrepreneurs in Southern Africa to expand their businesses into other markets in the continent.
The free trade area is expected to improve Zimbabwe’s exports into the rest of the continent in a market with a combined GDP of about $3,4 trillion.
“It is a well-known fact that women’s empowerment creates ripple effects that boost growth and make countries more competitive internationally and also improve other complementary factors, such as health and education. Despite these evident gains, women entrepreneurs and women-led business face greater challenges, such as limited financial literacy, access to finance and business networks, and even constraints due to social norms,” ITC deputy executive director, Dorothy Tembo,who spoke at the ITC Harare Forum.
The meeting was organised by ITC in collaboration with the Organisation of Women in International Trade (OWIT) in Zimbabwe. The high-level trade forum is part of ITC’s One Trade Africa programme – AfCFTA Dialogue Forums.
Under the theme “Trade Beyond Covid-19: Demystifying the AfCFTA for Zimbabwe/Southern Africa Women-led MSMEs”,discussions were around women and youth owned firms can benefit from the potential business gains the AfCFTA can offer.
Foreign Affairs and International Trade Deputy Minister, David Musabayana, said: “For women traders and entrepreneurs, including micro-entrepreneurs to benefit from expanded trade under the AfCFTA, government will scale up existing trade-related technical assistance for women and youth-owned SMEs to help them improve their capacity to trade.”
ZimTrade CEO,Allan Majuru, said AfCFTA opens tremendous possibilities for the whole continent.
“There are vast opportunities in African markets. We have no doubt that with the right support Zimbabwean companies will perform well across all markets in the continent. Our engagement with ITC and other stakeholders will discuss intra-Africa trade opportunities as well as find solutions to challenges faced by Zimbabwean companies,” Majuru said.
Private-sector representatives called on policymakers in the region to accelerate digital transformation programmes, such as e-commerce, as they seek to align both national and regional trade strategies.
Other stakeholders who attended the forum included the Common Market for Eastern and Southern Africa (COMESA) Business Council, the Senior Advisor to the AfCFTA Secretary-General, the head of delegation for the European Union to Zimbabwe and International Trade in Zimbabwe.
