Experts urge women-led businesses to leverage AfCFTA for growth

Experts have urged women-led businesses in Nigeria to leverage the opportunities presented by the African Continental Free Trade Area (AfCFTA) protocols to accelerate growth and enhance their global competitiveness.

At a recent forum organised by the United Nations Development Programme (UNDP) Nigeria, stakeholders emphasised the importance of understanding AfCFTA’s trade protocols, including intellectual property rights, market access, and export documentation, to unlock the full potential of the continental trade agreement.

The call highlights the need for women entrepreneurs to harness these tools to expand their businesses across Africa and contribute to the continent’s economic growth.

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The forum, held on Thursday in Abuja under the theme “Empowering women-led MSMEs for continental trade opportunities,” provided a platform to address critical areas such as capacity-building, market access, trade facilitation, business networking, investment opportunities, and digitalisation.

Speaking at the event, Elsie Attafuah, UNDP Nigeria resident representative, said the initiative aligned with the UNDP’s broader goal of leveraging intra-African trade to drive poverty reduction, job creation, and foreign exchange generation.

Represented by Tony Muhumuza, senior economist advisor at UNDP Nigeria, she said the programme was designed to empower women and foster economic growth in the unified African market.

“HerAfCFTA aims to unlock opportunities for women, focusing on critical areas such as market intelligence, access to finance, product branding, quality standards, and export documentation,” she noted.

Weyinmi Eribo, director-general, Women Chamber of Commerce, Industry, Mines, and Agriculture (WCCIMA), urged participants to actively engage with larger networks and chambers of commerce.

“We are connecting businesses to opportunities and facilitating targeted promotions abroad to ensure they make a real impact in foreign markets,” she said.

She added that women entrepreneurs must seize these opportunities to avoid being left behind in the rapidly evolving trade ecosystem.

Olusegun Olutayo, senior trade expert at the Nigerian AfCFTA Coordination Office, highlighted the broader benefits of AfCFTA for all Nigerians, regardless of their economic roles.

“AfCFTA is not just a trade agreement but a framework that fosters job creation, industrialization, and policy alignment,” he explained.

He encouraged participants to familiarise themselves with the agreement’s protocols, including intellectual property rights, to harness its potential.

Further highlighting the economic potential of Nigerian MSMEs, Gladys Kinyua, a market intelligence consultant, pointed out that these enterprises contribute over 50 percent of the country’s GDP and account for 80 percent of employment.

She identified key sectors such as agriculture, ICT, manufacturing, and retail as drivers of economic diversification and export growth.

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“The Southern and Eastern African markets offer untapped opportunities for Nigerian MSMEs, particularly in agriculture, cosmetics, textiles, and fashion. However, actionable market intelligence is crucial to expanding trade under AfCFTA,” she said.

The HerAfCFTA forum reaffirmed UNDP’s commitment to fostering inclusive trade and empowering women-led businesses to thrive in a competitive African market.

Participants were urged to capitalise on the opportunities presented by AfCFTA while actively engaging in shaping Nigeria’s economic future.

This initiative, according to experts, underscored the potential of African women entrepreneurs to drive economic growth, with the HerAfCFTA forum serving as a key step towards unlocking their full potential in continental trade.