How to strengthen intra-African trade, which only accounts for 17% of trade on the continent? The AU advocates a pan-Africanization of the economic system.
The 5th UN Conference on Least Developed Countries in Doha, Qatar, emphasized the key role of financing for SMEs.
In sub-Saharan Africa, women produce up to 70% of food for consumption and sale. However, agriculture remains a low-value-added activity.
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Strengthening trade within Africa
Economists are unanimous: Africa’s success on world markets depends on intensified regional integration. However, a disturbing observation is that intra-African trade only represents 17% of exchanges against 73% with European countries and 52% with Asian countries.
To facilitate trade, the Afcfta secretary and Rwanda recently signed an agreement for Kigali to headquarter the $10 billion adjustment fund for the free trade zone.
Gérard Amoi Amangoua, managing Director of the consulting firm NAG in Côte d’Ivoire gives his insight to Africanews.
SMEs under the spotlight at a summit in Doha
Access to finance is one of the obstacles the private sector as well as small and medium-sized enterprises face in the least developed countries. Investors fear the risks associated with financing this sector. In Doha, solutions were proposed to encourage support for SMEs.
Women at the heart of the economic system
While they represent 70% of the working population in the agricultural sector, women are mainly at the bottom of the ladder in this field. According to the UNDP, gender inequalities generate an average of 95 billion dollars a year in lost earnings in sub-Saharan Africa.
Source: africanews.
