Empowering MSMEs for Success under the AfCFTA Market
September 30, 2024
Micro, Small, and Medium-sized Enterprises (MSMEs) are the backbone of Africa's economy, driving innovation, creating jobs, and contributing significantly to Gross Domestic Product (GDP). However, they often face significant challenges in accessing markets, finance, and technology.
As part of efforts to strengthen capacities of MSMEs, the United Nations Development Programme (UNDP) in Ghana, in partnership with The National Coordination Office (NCO) for the African Continental Free Trade Area (AfCFTA), have designed an initiative to equip MSMEs with the tools, expertise, and networks needed to thrive in the AfCFTA market.
The initiative seeks to enhance policy coherence, provide integrated support, and increase market access for MSMEs, enabling them to effectively engage in intra-African trade, driving economic growth and prosperity across the continent.
“At UNDP, we're passionate about empowering MSMEs to reach new heights. Our initiative aims to address the systemic barriers they face, ensuring they can effectively participate and benefit from the AfCFTA”, noted Edward Ampratwum PhD, Head of Inclusive Growth and Accountable Governance, UNDP Ghana at the training.
The training equipped participants with practical knowledge and skills in export readiness, regulatory compliance, logistics, brand building, and export trade financing, enabling them to enhance their market visibility, penetrate new markets, and succeed in the African export market.
Dr. Fareed Arthur, National Coordinator for AfCFTA, noted that, "For MSMEs, quality is the currency of growth. In a competitive market, consistently delivering high-quality goods and services is the only way to build trust, attract customers, and drive sustainable growth”.
Emmanuel Atakora-manu, CEO of Ifok Handmade Limited, a participant at the training, testified that, “The training on AfCFTA readiness has been very beneficial to me. I am now equipped with the knowledge and tools to take my business to the next level and obtain necessary documents to unlock international trade opportunities for my business to flourish beyond borders”.
This initiative serves as a tool that empowers MSMEs to succeed in Africa's market. Equipped with expertise and resources, entrepreneurs like Emmanuel Atakora-manu can expand globally. This partnership with key institutions will help fuel Ghana’s economy drive intra-African trade and creates jobs. By supporting MSMEs, Ghana and Africa can prosper, unlocking a brighter future for generations to come. This initiative is targeting six districts; Kassena Nankana West, Ketu South, Sefwi Wiawso, Kumasi, Jomoro and Sagnerigu.