AFRICA ( commonwealth Union ) _ The vital importance of financing for SMEs was stressed at the 5th UN Conference on Least Developed Countries in Doha, Qatar. Women generate up to 70% of the food sold and consumed in sub-Saharan Africa. Agriculture nevertheless continues to be a low value-added industry.
strengthening intra-African commerce
The consensus among economists is that greater regional integration is essential for Africa to succeed on global marketplaces. Unsettlingly, only 17% of trades take place within Africa itself, compared to 73% with European nations and 52% with Asian nations.
The Afcfta secretary and Rwanda recently agreed that Kigali would serve as the administrative hub for the $10 billion free trade zone adjustment fund in order to promote commerce.
Africanews receives assistance from Gérard Amoi Amangoua, managing Director of the consulting company NAG in Côte d’Ivoire. At a meeting in Doha, SMEs will highlight that one of the challenges the private sector and small and medium-sized businesses in the least developed nations encounter is access to finance. Investors are wary of the risks involved in funding this industry. In Doha, suggestions for ways to promote assistance for SMEs were made.
The importance of women in the economy
Women are primarily at the bottom of the ladder in the agricultural industry, despite making up 70% of the working population. According to the UNDP, sub-Saharan Africa loses an average of 95 billion dollars in annual income due to gender disparities.
The AU advocates
A pan-Africanization of the economic system, according to AfricaNews, in order to boost intra-African commerce. Intensified regional integration is essential to Africa’s prosperity in global markets. Unsettlingly, only 17% of trades take place within Africa itself, compared to 73% with European nations and 52% with Asian nations. Women generate up to 70% of the food sold and consumed in sub-Saharan Africa. Agriculture nevertheless continues to be a low value-added industry. The $10 billion adjustment fund for the free trade zone will have its headquarters in Kigali thanks to a recent agreement between Rwanda and the AfCFTA Secretary General to promote trade.
