THE government has partnered the United Nations Economic Commission for Africa in capacitating small and medium entrepreneurs with information on how they can penetrate foreign markets under the African Continental Free Trade Area (AfCFTA).
This comes after small and medium entrepreneurs, government representatives and the United Nations family gathered in Harare this Monday for a crucial engagement aimed at unlocking opportunities for Small and Medium Enterprises (SMEs).
SMES have since proved to be a pivotal force in reshaping Zimbabwe’s economic landscape, hence their integration into AfCFTA will not only expand their operations beyond national borders but also foster a more integrated and accessible African market.
“From what I have heard today, I am pretty excited about the opportunities that await my business. AfCFTA provides SMEs with access to a vast market comprising over one billion consumers across the continent. Previously, we operated within the confines of our home countries due to high tariffs and restrictive trade policies. The agreement facilitates easier entry into new markets, allowing SMEs to increase their customer base and revenue streams,” an entrepreneur said.
“This expanded market access encourages us SMEs to diversify our products and services to meet varied consumer demands across different African countries, enhancing our resilience against local economic fluctuations,” another added.
The Minister of Women Affairs, Community, Small and Medium Enterprises Development, Senator Monica Mutsvangwa noted the potential benefits of a much larger continental market.
“The AfCFTA is designed to foster the development of regional value chains. This means SMEs need not only to be exporters, but they can also become vital suppliers of raw materials, components, and services to larger businesses across the continent. Such integration into broader supply chains will enhance their competitiveness, resilience, and overall growth. Imagine Nigeria, Ghana Tanzania, having a made in Zimbabwe product, that is huge,” she said.
The engagement was also a platform to boost the capacity of SMEs to navigate the complexities of cross-border trade.
“Africa is redefining its economic trajectory through deeper regional integration, amidst global protectionism. Small and Medium Enterprises are not just passive participants in this integration journey, but they are the very engine that will power inclusive growth, job creation and resilience across the continent. The AfCFTA is more than a trade agreement, it is a promise of shared prosperity transcending national borders. It offers solutions to African challenges,” United Nations Economic Commission for Africa’s Chief Sub-Regional Initiatives, Mrs Zodwa Mabuza stated.
“AfCFTA represents a collective commitment to boost intra-African trade, catalyse industrialisation, and spur inclusive growth. The ECA stands firmly with the Government of Zimbabwe in translating that promise to tangible opportunities for the private sector, particularly SMEs, women and youth, whose creativity and determination will shape the future of intra-African trade. With trading underway since 2021, and the recent adoption of Phase II protocols, including digital trade and women and youth in trade, the agreement is poised to reshape our continent’s economic landscape.”
SMEs represent a significant share of businesses and employment across Zimbabwe, adding to economic diversification, poverty reduction and innovation.
