Africa (Commonwealth) _ African Aid for Trade Organization TradeMark Africa received a grant of Sh10.1 billion ($63 million) from the Dutch government to promote sustainable trade and economic inclusivity in Africa.
The corporation claims that the funds, which will last until 2030, will generate green, sustainable economic growth, foster new trade practices, and promote inclusive commerce throughout the continent. Marchel Gerrmann, Ambassador for Business and Development Cooperation at the Netherlands Ministry of Foreign Affairs, stated that TradeMark Africa would make a substantial contribution to the African continent’s more inclusive and successful trading landscape, benefitting both African and Dutch enterprises.
The Netherlands’ funding will be used to enhance trade processes, benefiting local exporters, promoting economic growth, and creating long-term livelihoods in a variety of industries. As part of its Africa Strategy, the Netherlands supports to the implementation of the African Continental Free Trade Area (AfCFTA).
The AfCFTA is estimated to increase intra-African trade by more than 30% by 2045, resulting in an average 2.7 percent GDP rise throughout the continent. The AfCFTA has the potential to bring 30 million Africans out of poverty by 2035, while also providing market possibilities for African and Dutch firms.
We are pleased to continue this relationship by concentrating on the trade issues of the next years, not least ensuring Africa remains a pioneer in green trade, and that the advantages of trade corridors reach people and areas in most need of the economic boost that they provide. David Beer, the CEO of TradeMark Africa, added. These initiatives will contribute to a prosperous, resilient, and inclusive trading environment.
USAID-ERRA, through TradeMark Africa (TMA), is seeking concept notes from private sector firms in the agricultural (horticulture, livestock, or fisheries) and cotton, textile, and garment (CTG) sectors. The goal is to create creative solutions that promote Kenya’s agricultural competitiveness, supporting greater exports, employment creation and preservation, and better resilience of businesses to reduce the implications of COVID-19.
TradeMark Africa (TMA), originally TradeMark East Africa, is an Aid-for-commerce organization founded in 2010 with the goal of boosting wealth through increased commerce. Belgium, the Bill and Melinda Gates Foundation, Finland,Canada, Denmark, the European Union, France, Ireland, the Netherlands, Norway, the United Kingdom, and the United States of America all contribute to TMA’s non-profit operations.
TMA collaborates closely with regional intergovernmental organizations such as the African Union (The AU), the African Continental Free Trade Area (AfCFTA) Secretariat, the East Africa Community (the EAC), the Intergovernmental Authority on Development (the IGAD), the Common Market for East and Southern Africa (the COMESA), the Southern Africa Customs Union (SACU), national governments, the private sector, and civil society organisations.
TMA’s first two strategic periods (2010-2023) resulted in significant gains for trade and regional integration in East Africa and the Horn of Africa, including reduced cargo transit times (16.5% on the Northern Corridor from Mombasa to Bujumbura), improved border efficiency (70%), and lower trade barriers. The continental-wide transition and rebranding to TMA began formally in West Africa in January 2023, with Ghana serving as the region’s first nation of operations.
This is going to in resource-rich nations, encourage local assembly and manufacturing by establishing special economic zones and promoting conducive investment climates. To ensure the industry develops sustainably, address concerns related to the environment, society, and government, such as the transparency of raw materials. TMA’s main office is located in Nairobi, Kenya. EAC Secretariat in Arusha, Burundi, Democratic Republic of the Congo, Djibouti,Rwanda, Ethiopia, Ghana, Malawi, Mozambique, Somaliland, South Sudan, Tanzania, Uganda, and Zambia are the locations of operations and offices. TradeMark (Trade and Markets) East Africa is a non-profit organization dedicated to promoting trade in East Africa, with funding from various donors. Its mission is to foster growth in both regional and global commerce.
