East African private sector well positioned to benefit from AfCFTA



East African private sector well positioned to benefit from AfCFTA

Protectionism and non-tariff barriers can block intra-African trade growth and called for the adoption of the pan-African mindset to advance the AfCFTA agenda

KIGALI, Rwanda, September 24, 2021 / APO Group / –

The business community is a key part of the African Continental Free Trade Area (AfCFTA) and could benefit enormously in terms of access to raw materials, technology and also by increasing economies of scale for participation in chains of regional and global value, said Ms. Mama Keita, Director of the United Nations Economic Commission for Africa, Bureau for East Africa.

Ms Keita was speaking at a webinar organized by ECA in collaboration with the East African Business Council (EABC) to discuss with the East African private sector the implementation of the AfCFTA in Africa from the east.

Online meeting participants exchanged views on how to harness the potential of African markets and how businesses can seize the opportunity to implement and benefit from the AfCFTA agreement .

ECA simulations highlight that AfCFTA is expected to boost East Africa’s manufactured exports, in particular, textiles and clothing exports will grow by 100%, heavy manufacturing by 63%, light manufacturing 61%, processed foods 54% while livestock and meat products 39 percent.

In his presentation, Mr. Rodgers Mukwaya, Head of Economic Affairs at ECA, said that the implementation of the AfCFTA would increase intra-African trade by more than 50 percent. The deal would also increase the continent’s GDP by more than $ 40 billion and its exports by more than $ 55 billion.

A roundtable to discuss the implementation of AfCFTA in East Africa was held between Mr. Denis Karera, Vice-President of the East African Business Council (EABC), Mr. Steven Asiimwe, Uganda Private Sector Foundation (PSFU) Advocacy Director; Mr. Davilyne Busuru, Policy and Regulatory Compliance Analyst for the Kenya Private Sector Alliance (KEPSA).

Karera urged EAC partner states to finalize and submit tariff offers under the AfCFTA to enable the EAC bloc to tap the 1.3 billion mainland markets with a gross domestic product of 3 trillion. of dollars.

“The political will to duly implement the agreed commitments of the AfCFTA is a cornerstone to actualize the benefits of the continental agreement,” said Mr. Karera. He further added that protectionism and non-tariff barriers can block the growth of intra-African trade and called for the adoption of the pan-African mindset to advance the AfCFTA agenda.

Panelists agreed that the private sector is the engine of the African economy as it accounts for over 80 percent of total output, two-thirds of total investment and three-quarters of lending within the economy, according to the ECA. The private sector also provides jobs for around 90 percent of the working-age workforce.

The ECA stresses that by making African economies more competitive and by enabling the development and modernization of regional value chains, the AfCFTA promises opportunities for job creation, dynamic growth and economic empowerment for women and men. marginalized groups such as refugees and internally displaced persons.

Short Link:


NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor @

Recent Posts

Benzema absent as sex tape blackmail trial begins #EndSARS: 11 states submit final reports on rights violations by SARS operatives – FG Olympic flame arrives in Beijing for 2022 Winter Games Cape Town partners with Africa Energy Week 2021 for continent’s premier energy event Insurance companies to pay N20bn #EndSARS protest destruction claims – Official Protecting the privacy of health data is essential for health equity in Africa (By Christopher A. LeGrand, Rachel Clad and Ruan Viljoen) Lekki massacre is a phantom conspiracy, Nigerian govt insists Indonesia, China begin feasibility study on $560m coal-to-methanol plant Mbappe, Messi found their groove after PSG’s comeback win against Leipzig Bangladesh slams developed nations over decades of climate ‘empty pledges’ Taliban reaffirms commitment to preventing security threats for foreign countries India’s PM inaugurates new airport to boost tourism The International Islamic Trade Finance Company (ITFC) signs a 100 million euros Murabaha financing agreement with SENELEC, dedicated to supporting Senegal’s energy sector Former German soldiers held for planning mercenaries for Yemen Court fixes Nov. 22 for arraignment of ex-Aviation Minister, Stella Oduah Court fixes date for arraignment of ex-Aviation Minister Stella Oduah Paradigm Initiative publishes a short film “FOCUS” calling for the vigilance of citizens to protect digital rights UN needs to play central role in normalisation of situation in Afghanistan Canada-Africa collaboration: Prime Minister Justin Trudeau to address Africa accelerating 2021 QSL Gas & Power CEO places natural gas at the center of Africa’s energy transition during African Energy Week in Cape Town Imo community set to honour Actor Kanayo with chieftaincy title FCT lawmaker trains 520 constituents on mechanized farming Inna Ciroma, other aspirants submit nomination forms ahead of PDP National Convention Africa Oil Week will highlight unparalleled opportunities, boost investment and deal making on the African continent Buhari greets ex-Head of State, Yakubu Gowon, on 87th birthday Ancient Hebrew prayer book auctioned for $8m Benzema absent as sex tape blackmail trial begins Banditry: Army operations have returned farming activities in Kebbi – Bagudu Automatic inspection system for imagePRESS C10010VP series enhanced to read variable data, barcodes and QR codes The 26 best young African entrepreneurs selected for the new three-year Anzisha Prize scholarships Direct Carrier Billing Index reveals the most favorable countries for DCB growth in the MEA region Red Cross renovates 12 houses destroyed by floods in Katsina Private varsity partners European private sector to curtail youth migration  –VC Democrats, Biden negotiate intensively on saving ambitious agenda Micronutrient deficiency: HarvestPlus to develop zinc enriched maize, rice Snake bite: Victims’ survival slimmer as anti-venom prices soar – Expert Kano police arrest suspected fuel suppliers to bandits in Katsina CSCS board renews Jalo-Waziri’s appointment for another 5 years Scam Alert: NNPC disclaims fake 50th anniversary quiz contest Erdogan begins 2-day official visit to Nigeria Oct.19 Facebook to settle U.S. employment discrimination claims with $14.25m Buhari greets Yakubu Gowon at 87 Coronavirus – Malawi: UK emergency medical team provides COVID-19 support and training to health workers in Malawi Buni approves 65 years as retirement age for Yobe teachers El-Rufai makes COVID-19 vaccination mandatory for all Kaduna civil servants Gunmen kill 2 traditional rulers in Imo NSCDC begins psychological assessment of its personnel – Official Buhari hosts Turkish President Erdogan, wife At Maulud, Sheikh Dahiru Bauchi says Nigerians are suffering from hunger, poverty, insecurity The African Broadcasting Union (AUB) and Canal + tackle piracy of television signals