Turning Africa’s raw materials into world-class products

The recent signing this month of AFcfta - the African Continental Free Trade Area Agreement, was a truly historic development. According to the African Union Commission Deputy Chairperson, Ambassador Kwesi Quartey, the potential for intra-African trade to drive value creation and development is real, but in order to trade, Africa first has to produce - and not just primary commodities. It’s essential that a new business environment is created whereby Africa celebrates its natural raw materials and in turn creates world class, locally manufactured, value-added products that are bought not only by global consumers, but also by pan African consumers. There is a huge opportunity for Africa’s women entrepreneurs to tap into this growing market on the continent. According to the Brookings Institution, the continent’s total pan African exports in 2016 amounted to just 18 percent of Africa’s total exports. Compare that with intraregional exports in Asia and Europe, with 59 percent and 69 percent respectively, and it’s clear that there is huge potential for inter-trade market growth and for more world-class, locally manufactured products for local markets to be created by entrepreneurs.