African Continental Free Trade Area (AfCFTA)

 

What are the Opportunities

 

3.0 What are the four Opportunities available for SMEs in the AfCFTA?

 

3.1. Circular Economy: 

Building the capacity of private organizations or interest groups and public sector representatives to engage in public-private dialogue and partnerships, by strengthening the capacity of regional bodies and national administrations to design and implement legal, regulatory, administrative, and institutional reforms that promote increased revenue mobilization, trade, economic stability, regional integration, well-functioning financial markets, efficient and fair labor markets, conducive business environments, decent work, formalization of the economy and attractive investments.

 

3.2 Investment and Green Growth: 

 

Years after the adoption of the U.N. Sustainable Development Goals, corporations, and governments around the world are beginning to take concrete steps to disclose and rectify the social and environmental impacts of their operations. Hence Africa is innovating in green growth as its saves the environment. Improving the capacity of government, civil society organizations, specialized agencies and laboratories, and private sector actors to address the issues of social, labor, and environmental sustainability as well as transparency, traceability, and certification schemes and laboratory accreditation processes related to key-value chains.

 

3.3  Innovation Hubs :

 

Africa currently is seeing to it that Innovation hubs provide important facilities to nurture new ideas and help develop inquisitive perspectives in people of today.  These hubs serve as springboards for new ideas and innovation and thus helping the society and economy to face future challenges and meet the rising aspirations of the growing population.  Technically creative hubs hoist a system of connections that puts individuals, firms, startups, incubators, and accelerators together.

 

3.4 Sustainable Future Big Data Frontier:

 

The AU agenda, Ecosoc Africa, and other regional bodies are helping in data management within

their systems of communication and work capabilities. Technology hence helps improve Urban cities, quality of life amongst many things. Gender equality and readiness for a postmodern world effects effective change hence disaster risk reduction is actualized. AGENDA 2063 is Africa's blueprint and master plan for transforming Africa into the global powerhouse of the future.

Africa is currently seeing the deployment of modern technology as the exchange of data and information amongst stakeholders engaged in research, policy formation, and implementation.