Business, Govt in crucial AfCFTA meeting

LIVINGSTONE MARUFU

Captains of industry will in two weeks’ time meet government officials and development institutions to discuss possible areas of collaboration for them to effectively compete for opportunities created under the African Continental Free Trade Area (AfCFTA).

The objective of AfCFTA, which is one of the world’s largest free trade areas, connecting about 1.3bn people, is to create a single continental market for goods and services.

The AfCFTA Advisory Council, which was recently created by the government, said the June 22 meeting was to ensure that Zimbabwe maximises the AfCFTA opportunities.

“The vision is earmarked on catalysing collaboration amongst industries in Zimbabwe in order to take advantage of opportunities brought about by the African Continental Free Trade Area agreement.

“The meeting will be physical, comprising a series of sessions to galvanise businesses and leaders to drive transformative action,” the organisation said in a statement.

It said the high-level dialogue was expected to generate collaboration leads while raising awareness on AfCFTA opportunities for the broader Zimbabwean economy.

“The event is also a powerful platform that promotes dialogue on critical issues such as trade, investments, and economic development.”

The AfCFTA Advisory Council said local companies should create an ecosystem for collaboration across Zimbabwean industries with the aim of tapping into opportunities presented by the AfCFTA Agreement.

It said there was a need for advocacy through raising awareness about AfCFTA opportunities in Zimbabwe.

“This will ensure that Zimbabwean businesses [including small to medium enterprises] are positioned for growth. We are pushing for the launching of a Quarterly AfCFTA Awareness Survey in Zimbabwe. This will be used to gauge how different sectors of the Zimbabwean economy are progressing in terms of positioning for AfCFTA.

“The survey will also be an important tool in terms of informing policymakers on the nature of campaigns required to increase awareness and highlighting and informing on Zimbabwe’s readiness to participate in regional integration initiatives through policy interventions and support,” AfCFTA Advisory Council said.

The survey will be focused on helping policymakers and business leaders gauge the awareness of AfCFTA amongst key sectors of the economy, according to the document.

The AfCFTA advisory council said this will serve as a barometer to track the overall progress of the market in terms of positioning itself of AfCFTA opportunities.

The survey will be sector-based and will cover areas such as manufacturing and logistics, telecommunications, media and technology, mining, banking, real estate, building materials and construction, insurance, tourism, hospitality, and consumer as well as food and agriculture.