Nairobi, Kenya, September 2024 — A new $508,000 partnership between USAID, TradeMark Africa (TMA), and the East African Business Council (EABC) is set to boost the trading potential of 220 private sector enterprises including Small and Medium Enterprises (SMEs) and 3000 farmers, processors and private proprietors within the African Continental Free Trade Area (AfCFTA) – the world’s largest free trade area, encompassing 55 African Union countries.
According to a study undertaken by TMA and the East Africa Community (EAC) Secretariat the total potential of the EAC in AfCFTA is estimated at $1.9 billion. Kenya has the largest share of this potential ($ 705.5 million) followed by Tanzania ($594 million), the DRC ($342 million), Uganda ($178.2 million), Rwanda ($36.1 million) and Burundi ($1.3 million).
TMA’s three-year partnership with EABC, funded by the USAID Economic Recovery and Reform Activity (USAID-ERRA), will focus on reducing trade barriers with at least 12 high-level non-tariff barriers, identified annually, resolved by the end of the project. This partnership will also facilitate market access for high-potential agricultural exports: tea, coffee, rice, vegetables, staple foods, mate, cotton, textiles, and garments through Business to Business (B2B) market linkages and increasing awareness of market opportunities under the AfCFTA. Ultimately, EABC will benefit from institutional strengthening that will inform its ongoing support on AfCFTA to private sector in the region.
David Rogers, Deputy Director, USAID Kenya and East Africa said, “This initiative underscores the need for increased collaboration across the region and sustained engagement with policymakers on AfCFTA-related matters.”David Beer, CEO at TMA, emphasized: “Private-sector action is critical to ensure a unified message from businesses to policymakers at national, regional, and continental levels.”
Adrian Njau, Ag. Executive Director at EABC, added: “Together, we will enable women, youth, SMEs, and other value chain actors to access trade policy instruments and participate in intra-Africa trade.”
The initiative will engage key stakeholders, including the East African Women in Business Platform (EAWiBP), the East African Sub-Regional Support Initiative for Advancement of Women (EASSI), and YouLead.
For more information:
- USAID: www.USAID.gov
- USAID-ERRA: www.trademarkafrica.com/erra/
- TradeMark Africa: www.trademarkafrica.com
- East African Business Council: www.eabc-online.com
Press Contacts:
- Patrick Moshi, EABC: Communications@eabc-online.com
- Emilly Okello-Juma, TMA: emilly.okello@trademarkafrica.com