Mapping African businesses, demystifying the AfCFTA
The AfCFTA Secretariat and ITC, on the sidelines of Africa Industrialization Week from 20-25 November 2022, launch the AfCFTA glossary to unpack the legal Agreement for small businesses, and announce the highly anticipated private sector mapping to profile firms and the business ecosystem that supports them.
The AfCFTA glossary, produced with input from the private sector, explains 100 AfCFTA-related technical terms to help small firms to better understand what the Agreement means for them.
The glossary is available in English and will soon be made available in French, Arabic and Portuguese. A mobile application is also under development.
This publication was developed by the AfCFTA Secretariat and ITC through the Government of Finland supported One Trade Africa Programme..
According to H.E. Wamkele Mene, Secretary-General, AfCFTA Secretariat, “The AfCFTA glossary fills a void where knowledge material around the AfCFTA Agreement has failed to be small business-friendly thus far. Today, I reaffirm our commitment as the Secretariat, to ensuring inclusivity in trade regarding African small businesses, particularly women and young entrepreneurs, whereby they will be able to be competitive, resilient and able to achieve their full potential.”
The African private sector mapping is a result of thousands of ITC-led surveys and interviews with small businesses and business support organizations across the continent. It covers the characteristics, competitiveness and constraints of African firms, and the performance and interconnectedness of regional business support organizations.
The intel gathered will support the sensitization, advocacy and training efforts to be done as part of the AfCFTA private sector engagement plan. Key findings include:
- 75% of businesses in Francophone Africa have yet to hear about the AfCFTA – 32% of African firms report having a business website, with women-led firms less likely to have one
- 42% of African exporting firms invest heavily in research and development, compared to 24% of non-exporting firms, showing that exporting firms are more likely to innovate
“To unlock intra-African trade, we need data on small firms’ characteristics and the performance of business support organizations. That’s why we’re mapping Africa’s private sector. Our partnership with the AfCFTA Secretariat is all about ensuring the Agreement delivers for businesses, especially those led by women and youth,” said Pamela Coke-Hamilton, Executive Director, International Trade Centre.
This joint venture between the AfCFTA Secretariat and ITC illustrates the organizations’ collective efforts to understand and address the challenges faced by small businesses on the Continent.
The seminar was attended by high-level officials, including Hon. Alkache Alhada, Minister of trade of Niger; Nardos Bekele-Thomas, Executive Director of the African Union Development Agency, NEPAD; and Dr. Amani Asfour, President of the African Business Council.
