An audit of AfCFTA progress Indicative of its resolve and determination to bring the vision to reality, the African Union has declared 2023 to be the “Year of the AfCFTA” with a sub-theme of “Acceleration of the AfCFTA Implementation”. [...] For SME purposes and taken together, the GTI, the AF and its components, and the SFF plan to develop and finance trans-regional business networks and value chains through matchmaking for productive opportunities; and hence, identify baskets of goods and services that complement and support trade among the state and private parties involved. [...] 2 SMEs and the importance of factoring The above operational background and the potential gains for SMEs that ensue from its implementation underscore the imperative of financial inclusion as a driver for ensuring that the gains from the AfCFTA are dynamic, lasting, and sustainable. [...] In this new incarnation phase of the AfCFTA and in the context of the continent's economic recovery challenges in the wake of the COVID-19 pandemic, liquidity and a reliable cash flow will be the lifeblood of SME's future in Africa. [...] ● The capacity-building dimension: located in the Afreximbank Factoring Unit and in conjunction and with the support of the ACBF, the challenge is to create a “factoring/SME sociology” of support systems that promote an enabling environment for sharing knowledge, expertise, lessons, and legal and regulatory information about the benefits of factoring for SMEs.
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- Pages
- 7
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- Zimbabwe