Secretariat for the African Continental Free Trade Area (AfCFTA), which commenced trading in 2021 with a market size of over 1.2 billion people, recently, announced an initiative to build a pipeline of export ready small businesses across regions. Through the AfCFTA SME Booster Programme, micro enterprises will be prepared to participate in regional value chains, empowered to accessing new markets and secure commercial opportunities. Last week, the Ministry of Trade and Entrepreneurship, in collaboration with the AfCFTA Secretariat, hosted a three-day Regional Capacity Building Programme for Business Support Organisations (BSOs) and women and youth led SMEs in Gaborone. Deputy Permanent Secretary in the Ministry of Trade and Entrepreneurship, Gideon Mmolawa, highlighted that SMEs are the heartbeat of the economy. However, they continue to face significant barriers for cross-border trade, including limited market intelligence, inadequate export preparedness, and financing constraints, he said.
The AfCFTA SME Booster Programme is being implemented through five regional cohorts covering West, Southern, East, Central and North Africa. It adopts an ecosystem approach that combines enterprise development, institutional strengthening, market access, business matchmaking, trade intelligence and structured engagement with buyers, financiers, logistics providers and AfCFTA Trading Companies. “The objectives of the workshop is to Increase the number of African businesses successfully trading across borders, help SMEs become export-ready and access regional and continental markets and Strengthen business support organisations (BSOs) so they can better assist SMEs,” stated the ministry. “Also to reduce barriers such as certification costs, customs procedures, logistics challenges, limited finance and lack of market information and encourage businesses to think beyond their national and SADC markets and target the 1.4 billion-person African market.”
