'The future is bright' for African entrepreneurs
AfCFTA to create the largest free-trade area in the world
The AU MSME Forum is aimed at empowering small businesses in Africa to thrive in regional and global markets.
It was a week filled with hope, innovation, and anxiety for some, as entrepreneurs from across the 54 member states of the African Union (AU) participated in the third annual Micro, Small, and Medium-sized Enterprises (MSMEs) Forum in Windhoek.
The MSME Forum sought to promote, upskill and strategise for a better, more inclusive African MSME sector to realise Africa’s industrialisation within the context of the integrated market.
It is one of the initiatives for implementation of the AU Small Medium Enterprises strategy, explained seasoned entrepreneur Chinwe Ezenwa.
Bright future
Ezenwa, who hails from Nigeria and is the CEO of Lelook Bags, advised upcoming entrepreneurs to take full advantage of the African Continental Free Trade Area (AfCFTA).
The successful 73-year-old entrepreneur said for her, the path to success was not easy, but for current MSMEs, AfCFTA eases the way forward.
“The future is very bright with the AfCFTA. I call it a certificate of prosperity. If you can handle it well, it will handle you well,” she said, pointing at her African-print backpack, which she carries around proudly.
Ezenwa said her company, Le Look Nigeria Limited, was the first to receive the AfCFTA certificate of origin, allowing her to trade beyond borders with ease. Namibia is yet to follow suit. Nigeria has ratified the AfCFTA agreement, which aims to create 'One Economy' and facilitate continental trade integration.
The AfCFTA agreement will create the largest free trade area in the world, measured by the number of countries participating, said AU Commissioner for Economic Development Trade Tourism Industry and Minerals, Albert Muchanga.
Muchanga said the agreement connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion. “It has the potential to lift 30 million people out of extreme poverty, but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures,” he said.
Organic spices
Taimi Shivute from Oshakati, the founder of Tuno Trading, excibited products from Tuno Foods at the forum last week, a brand of gluten-free spices she sources locally from Namibian farmers and communal gardens.
Shivute said they source their spices and herbs mostly from women entrepreneurs who have partnered with her.
“The spices are gluten-free, non-radiated, and vegan friendly. The process that we use to produce them is very safe, even for the health-conscious person,” she explained.
Shivute said she is not yet trading through AfCFTA, but taking part in the MSME Forum was an eye-opener, and engaging with seasoned entrepreneurs who have already “broken some barriers” has allowed her to think outside the box and beyond the Namibian borders.
“I heard that the agreement will reduce tariffs among member countries and cover policy areas such as trade facilitation and services, as well as regulatory measures that may cause technical barriers to trade. I just don’t know what the requirements are that Tuno Foods needs to comply with in order to export outside Namibia,” she noted.
Shivute said she launched Tuno Foods with her own savings and faces financial challenges – another hurdle she hopes will be addressed once she begins trading under AfCFTA.
Business inspiration
Shivute said she was diagnosed with gastric issues and was advised by her doctors to avoid eating spices.
As time went by, she said she realised that spices by themselves are not harmful, but it is the preservatives and additives in the spices that cause stomach problems.
“I had a small backyard garden where I was growing the herbs, and every time I would crush the herbs and make spices from them. Whenever I ate those, I didn’t have a problem. And the food was still lovely,” Shivute said, adding that this motivated her to start the spice initiative.
“I wanted to see if there is someone else out there with the same problem and would be willing to buy the spices. To help health-conscious people be able to have a wonderful meal,” she said.
The week-long forum, which concluded Friday, was held under the theme 'Fostering Financial Empowerment and Educational Innovation for African Startups & MSMEs'.
The AU MSME Forum is aimed at empowering small businesses in Africa to thrive in regional and global markets.
The MSME Forum sought to promote, upskill and strategise for a better, more inclusive African MSME sector to realise Africa’s industrialisation within the context of the integrated market.
It is one of the initiatives for implementation of the AU Small Medium Enterprises strategy, explained seasoned entrepreneur Chinwe Ezenwa.
Bright future
Ezenwa, who hails from Nigeria and is the CEO of Lelook Bags, advised upcoming entrepreneurs to take full advantage of the African Continental Free Trade Area (AfCFTA).
The successful 73-year-old entrepreneur said for her, the path to success was not easy, but for current MSMEs, AfCFTA eases the way forward.
“The future is very bright with the AfCFTA. I call it a certificate of prosperity. If you can handle it well, it will handle you well,” she said, pointing at her African-print backpack, which she carries around proudly.
Ezenwa said her company, Le Look Nigeria Limited, was the first to receive the AfCFTA certificate of origin, allowing her to trade beyond borders with ease. Namibia is yet to follow suit. Nigeria has ratified the AfCFTA agreement, which aims to create 'One Economy' and facilitate continental trade integration.
The AfCFTA agreement will create the largest free trade area in the world, measured by the number of countries participating, said AU Commissioner for Economic Development Trade Tourism Industry and Minerals, Albert Muchanga.
Muchanga said the agreement connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion. “It has the potential to lift 30 million people out of extreme poverty, but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures,” he said.
Organic spices
Taimi Shivute from Oshakati, the founder of Tuno Trading, excibited products from Tuno Foods at the forum last week, a brand of gluten-free spices she sources locally from Namibian farmers and communal gardens.
Shivute said they source their spices and herbs mostly from women entrepreneurs who have partnered with her.
“The spices are gluten-free, non-radiated, and vegan friendly. The process that we use to produce them is very safe, even for the health-conscious person,” she explained.
Shivute said she is not yet trading through AfCFTA, but taking part in the MSME Forum was an eye-opener, and engaging with seasoned entrepreneurs who have already “broken some barriers” has allowed her to think outside the box and beyond the Namibian borders.
“I heard that the agreement will reduce tariffs among member countries and cover policy areas such as trade facilitation and services, as well as regulatory measures that may cause technical barriers to trade. I just don’t know what the requirements are that Tuno Foods needs to comply with in order to export outside Namibia,” she noted.
Shivute said she launched Tuno Foods with her own savings and faces financial challenges – another hurdle she hopes will be addressed once she begins trading under AfCFTA.
Business inspiration
Shivute said she was diagnosed with gastric issues and was advised by her doctors to avoid eating spices.
As time went by, she said she realised that spices by themselves are not harmful, but it is the preservatives and additives in the spices that cause stomach problems.
“I had a small backyard garden where I was growing the herbs, and every time I would crush the herbs and make spices from them. Whenever I ate those, I didn’t have a problem. And the food was still lovely,” Shivute said, adding that this motivated her to start the spice initiative.
“I wanted to see if there is someone else out there with the same problem and would be willing to buy the spices. To help health-conscious people be able to have a wonderful meal,” she said.
The week-long forum, which concluded Friday, was held under the theme 'Fostering Financial Empowerment and Educational Innovation for African Startups & MSMEs'.
The AU MSME Forum is aimed at empowering small businesses in Africa to thrive in regional and global markets.
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