Press Release | 15 Jul. 2021

UNDP and ITC jointly participate in AfCFTA to expand business opportunities in Africa


The United Nations Development Program (UNDP) and the International Trade Center (ITC) can work together to enable African SMEs, women and young entrepreneurs to leverage the African Continental Free Trade Area (AfCFTA) to expand cross-continental business opportunities. I am supporting you. ITC is a joint body of the World Trade Organization (WTO) and the United Nations.

This joint initiative comes as the continent struggles with the financial burden of the COVID-19 pandemic, fosters the recovery of African businesses across the continent, and seeks to build resilience.

The ITC and UNDP aim to make companies more competitive, expand employment opportunities and achieve some of the United Nations Sustainable Development Goals (SDGs), the ITC press release said.

In a virtually signed memorandum, both organizations promoted women’s economic empowerment, increased economic and employment opportunities for young people, increased access to SME trade and market information, and intra-African trade. Worked to promote electronic commerce to strengthen.

These four work areas focus on ensuring that women and young people are included in the continental market equation, with the aim of enabling, enabling and strengthening SMEs with access to business opportunities. Part of the One Trade Africa Initiative.

The goal is also in line with UNDP’s new strategic proposal in Africa, with a focus on facilitating structural change in Africa.

Based on UNDP’s signature initiative on women and adolescents and an ongoing work program to support the implementation of the AfCFTA, this collaboration specifically assists on-site businesses to maximize profits from the Continental Free Trade Area. Strengthen UNDP’s ability to provide.

UNDP and ITC will achieve these goals through joint action at the national level. Both agencies will help train and guide business support organizations and incubator hubs, provide data to policy makers, host joint continental events and virtual workshops, and expand e-learning opportunities.

SMEs, women and young entrepreneurs will be able to leverage AfCFTA to better serve the African market, which is expected to have a total of 1.3 billion consumers by 2050.

Access the full article online here.