Key facts
- Many African small and medium-sized enterprises (SMEs) have yet to benefit from the AfCFTA.
- Key obstacles include poor infrastructure, complex border procedures, and limited access to trade finance.
- The International Trade Centre (ITC) is working to improve access to market intelligence and business support services.
- Togo is developing its technology sector by assembling computers locally.
- Egypt's recycling sector is seeing increased demand due to global supply chain disruptions.
Nearly a decade after its launch, the African Continental Free Trade Area (AfCFTA) has yet to deliver its promised benefits to many small businesses across the continent. Entrepreneurs continue to grapple with significant hurdles, including inadequate infrastructure, complicated border processes, and restricted access to trade opportunities, underscoring a disconnect between the agreement's ambitious goals and the daily realities faced by micro, small, and medium-sized enterprises (MSMEs).
Pamela Coke-Hamilton, Executive Director of the International Trade Centre (ITC), discussed the reasons behind this gap in an interview, exploring how economic diversification, the adoption of green certifications, and enhanced access to trade finance could bolster the competitiveness and resilience of African businesses in both regional and global markets.