Other AfCFTA-Related News: SA Starts Workshops on the AfCFTA, the Ecobank Group Starts a Trade Hub, and the UBA Launches a Fund to Resource SMEs
The Department of Trade, Industry and Competition (DTIC) is rolling out a series of awareness workshops on the AfCFTA Agreement throughout the country. The first was held in June 2023. According to the Chief Director of Africa Multilateral Economic Relations at the DTIC, Mr Sandile Tyini, the workshop seeks to communicate and engage with the private sector, SMEs, as well as women and youth-owned export ready businesses on the status of the implementation of the AfCFTA, including opportunities for SA companies to participate in preferential trade beyond the Southern African region. The Limpopo workshop will focus on agriculture and agro-processing; sugar value chain; forestry; as well as retail-clothing, textiles, footwear and leather (R-CTFL) value chain. On 17-18 Aug our Chair, Tatiana Ndlovu, will be moderating a conference in East London on exporting at which the AfCFTA will be speaking.
Ecobank Group has unveiled its Ecobank Single Market Trade Hub with over 300 businesses from 22 countries having signed onto the digital platform so far. The Trade Hub connects traders across Africa, within the single market framework of the AfCFTA. It is a digital platform, which serves as an exchange and information repository, designed to respond to the evolving trading needs of SMEs and corporates within Africa’s single market.
The United Bank for Africa (UBA) has signed an agreement with the AfCFTA Secretariat to invest $6bn as funding for African SMEs within the next 3 years. By this agreement, UBA, will provide financial services to SMEs in 4 main areas – agro-processing, automotive, pharmaceuticals, and transport and logistics, to boost intra-Africa trade, in all the 20 African countries where UBA operates.
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