Cairo, Egypt — In order to help African companies take full advantage of the opportunities offered by the African Continental Free Trade Area (AfCFTA), Afreximbank (www.Afreximbank.com) has introduced a dedicated training initiative aimed at providing firms with comprehensive insights into the agreement’s business impact and revolutionary possibilities.
Set to occur in Abuja, Nigeria, between June 30 and July 2, 2025, this training program aims to equip businesses with actionable, policy-oriented understanding of the developing regulatory and institutional framework surrounding the African Continental Free Trade Area (AfCFTA). Participants will learn how to analyze important treaty documents, facilitating adherence to updated trading regulations while boosting their comprehension of regional unification efforts and functional procedures. Furthermore, the initiative will act as an essential forum for instructing potential and current exporters about emerging trade trends, providing them with resources necessary to overcome tariffs and non-tariff obstacles throughout Africa.
Conceived and implemented by Afreximbank in collaboration with the American University in Cairo (AUC) and the AfCFTA Secretariat, the training is expected to attract a diverse range of participants, including African corporates engaged in import and export activities, Trade Support Institutions such as Trade Promotion Organizations and Chambers of Commerce, Investment Promotion Agencies, Export Trading Companies, Financial Institutions, and the broader foreign trade community.
Participants will gain insights through customized presentations focused on crucial Afreximbank offerings and programs designed to facilitate the execution of the AfCFTA. This includes an exploration of systems like the Pan-African Payment and Settlement System (PAPSS) and the Africa Trade Gateway (ATG), along with several trade financing options.
Tackling crucial knowledge gaps to unleash AfCFTA's potential
Dr. Yemi Kale, the Group Chief Economist and Managing Director of Research at Afreximbank, highlighted during his reflection on the importance of the initiative that although the African Continental Free Trade Area (AfCFTA) presents significant opportunities for boosting Africa’s economy, its effectiveness depends crucially on whether companies can grasp and implement its regulations effectively. Nevertheless, due to insufficient comprehension of these detailed requirements, numerous enterprises have been unable to take full advantage of what it offers.
The AfCFTA isn’t merely a policy framework; it serves as an engine driving fundamental changes in Africa’s economic environment," stated Dr. Kale. "Nonetheless, numerous African enterprises continue to struggle due to insufficient understanding of the pact’s detailed regulations, trading procedures, and potential advantages. This lack of information hampers their capacity to compete robustly, extend their market presence, and enhance value chains throughout the region.
He added that without a strong understanding of the AfCFTA's tariff schedules, rules of origin, customs collaboration, and dispute resolution processes, even highly competitive businesses might miss vital chances for expansion.
This training goes beyond mere compliance; it focuses on empowering individuals. It arms participants with the tools needed not just to adhere to regulations but also to craft export strategies, expand into new markets, and boost their competitive edge.
Tsotetsi Makong, who serves as the Director of Coordination and Programs at the AfCFTA Secretariat, emphasized this view, noting:
This training initiative aims to assist African enterprises looking for export prospects in overcoming significant hurdles such as thoroughly comprehending African markets, adhering to market regulations and compliance standards, and enhancing cross-border logistics for their products. Fully leveraging the AfCFTA’s benefits necessitates tackling these obstacles and bolstering the capabilities of African firms so they can shift from focusing solely on domestic production to adopting a framework that facilitates exporting throughout Africa and further abroad.
He emphasized Afreximbank's dedication to fully implementing the AfCFTA, noting that through building essential skills and industrial capabilities, every African nation could reap maximum advantages from this unified marketplace. He urged public and private sector participants to enhance their comprehension of how the agreement will be put into practice as a means to foster enduring economic expansion.
Afreximbank's part in promoting the AfCFTA
In partnership with the African Union for the execution of the AfCFTA, Afreximbank has taken charge of various programs aimed at boosting both internal and external African commerce and investments. By utilizing resources from their Trade Intelligence Solutions Unit and Human Resources and Learning Department, the bank assumes an essential role within the framework of the AfCFTA Training Program, guaranteeing that companies across Africa can succeed under this evolving trading landscape. This forthcoming session marks the program’s second iteration and signifies another significant achievement: being among the initial high-profile gatherings held at the newly established Afreximbank African Trade Centre (AATC), located in Abuja. Specifically crafted to act as a pivotal center promoting trade ease, attracting investments, and fostering collaborative commercial ventures, the AATC offers top-tier meeting spaces, exceptional guest amenities, along with an engaging atmosphere tailored towards education and professional connections.
Through providing African enterprises with the expertise and resources required to negotiate the complexities of the AfCFTA, Afreximbank remains at the forefront in realizing Africa’s immense trading opportunities and fostering economic change throughout the region.