Marythar Kambinda
KATIMA MULILO – Government has embarked on a campaign to inform business people of the benefits of the Africa Continental Free Trade Area Agreement (AfCFTA).
The Ministry of Industrialisation and Trade (MIT), in collaboration with the Namibia Trade Forum (NTF) and the United Nations Development Programme (UNDP), engaged the business community in the Zambezi region on the AfCFTA in Katima Mulilo last week.
The aim of the awareness campaign was to share and disseminate information on the agreement establishing the AfCFTA, as well as sensitising the business community on opportunities and benefits presented by the agreement.
In a speech read on her behalf by Sofia Nambahu, the UNDP resident representative to Namibia Alka Bhatia said the AfCFTA agreement holds great promise for Africa, in particular for Namibia’s development and for boosting intra-Africa trade.
She further stated that AfCFTA has the potential to enhance the capacity of MSMEs and drive structural economic transformation through trade and investment and create resilient, inclusive and sustainable economic growth and development in Africa.
“The UNDP Namibia has directed its efforts in supporting the implementation of AfCFTA within the country with a focus on the informal sector and MSMEs, especially those engaged in by women and youth,” she said.
UNDP is rolling out an initiative to train and sensitise at least 250 Youth and Women to understand AfCFTA, and maximise the benefits from their participation in it. UNDP also provides innovative financing schemes to at least 200 MSMEs and capacity development support to enhance their productive capacity and competitiveness in trade-related interventions, added Bhatia.
Acting Zambezi governor and Kabbe North constituency councillor Bernard Sisamu said the agreement has great potential and benefits, and can help improve production capacity as well as the possibility of employment creation and other opportunities.
“The business community in Namibia should take full advantage of the benefits offered under the AfCFTA. Given the region's dominance on economic activities, a clear understanding of what the AfCFTA has in store will help the region tap into the opportunities presented and increase its contribution to sustainable development,” said Sisamu.
Some members of the business community in the region who attended the event stated that lack of funds as well as lack of awareness about their products in their communities are some of the daunting challenges that hamper their businesses.