Nairobi, Kenya, 11th September 2024 — A transformative $508,000 partnership involving USAID, TradeMark Africa (TMA), and the East African Business Council (EABC) has been announced, aimed at enhancing trade within the African Continental Free Trade Area (AfCFTA).
This initiative is set to significantly impact 220 private sector enterprises, including small and medium-sized businesses, and 3,000 farmers, processors, and private proprietors across 55 African Union countries.
The three-year initiative, funded by the USAID Economic Recovery and Reform Activity (USAID-ERRA), is designed to unlock the region’s trade potential, which is estimated at $1.9 billion.
Key focus areas include addressing trade constraints, particularly in high-potential agricultural sectors such as tea, coffee, rice, and textiles. The project also aims to eliminate 12 major non-tariff barriers and promote market linkages through business-to-business connections.
David Rogers, Deputy Director of USAID Kenya and East Africa, emphasized the initiative’s role in fostering regional collaboration and engagement with policymakers.
David Beer, CEO of TMA, highlighted the importance of unified private-sector action in shaping trade policies. Adrian Njau, Acting Executive Director of EABC, underscored the initiative’s commitment to empowering women, youth, SMEs, and other stakeholders through enhanced access to trade policy instruments and intra-Africa trade opportunities.
The initiative will also involve organizations like the East African Women in Business Platform (EAWiBP), the East African Sub-Regional Support Initiative for Advancement of Women (EASSI), and YouLead to ensure broad-based participation and impact.