TradeMark Africa(TMA), Tony Blair Institute(TBI), and Trade Catalyst Africa(TCA) have partnered to grow trade across Africa through facilitation and financing.
Through the partnership, the three organizations will facilitate trade development to support the implementation of the Africa Continental Free Trade Area (AfCFTA) which became effective in 2021.
AfCFTA aims to create a continent-wide market of USD 3.4 trillion and 1.3 billion people, where goods from one corner trade freely in another.
AfCFTA could lift thirty million people out of poverty by 2035 based on trade between African countries growing by more than 50 per cent if fully implemented.
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The success of the free trade area is hinged on the removal of trade barriers across Africa that include; significant transport infrastructure gaps, cumbersome and unautomated trade processes, and differing customs regimes that delay goods moving freely.
The three partners will be deploying their strong expertise in trade facilitation projects, policy advice to governments, and innovative finance to help resolve these trade bottlenecks in the partnership.
Past interventions by the three organisations in Africa include supporting the implementation of trade corridor efficiency programmes and delivering tech-based solutions for trade licensing and customs administration.
Helping governments harmonise and automate trade standards, generating holistic government trade and export promotion strategies, and facilitating trade and infrastructure finance.
TMA Chief Executive Officer David Beer noted that the partnership will create the right synergies in driving economic growth.
He also noted that TMA is delighted with the trade facilitation they have undertaken across the East, Horn, and Southern Africa in the last ten years.
“ We are excited to build on this through our collaboration with TBI and TCA, so that we can help realize the aspirations of AfCFTA member states, in creating a truly seamless trading environment in Africa,” he added.
TBI Managing Director Rishon Chimboza stated that the partnership will support unleashing the Continent’s trade potential.
“TradeMark Africa and Trade Catalyst Africa – and catalyses common cause in growing trade and supporting implementation of the African Continental Free Trade Agreement,” he said.
The MoU spells out the key areas of the partnership that include; trade facilitation, standards development, support to the AFCFTA implementation, digitisation of trade processes, industrialisation, trade infrastructure and green logistics, support to cross-border traders, and knowledge sharing.
