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Historic Partnership Set to Catalyze SME Growth Across Africa

A monumental Signing Ceremony is slated for Monday, 19 June, 2023, at 5:30 pm, as the AfCFTA Secretariat partners with one of the leading continental banks, United Bank for Africa Plc. (UBA).

This collaboration aims to provide much-needed funding to Small and Medium Enterprises (SMEs) in four crucial sectors: Agro-processing, Automotive, Pharmaceuticals, and Transport and Logistics. It’s a pivotal step toward achieving our goal of creating a single market of 1.3 billion people and aligns with the African Union’s objective under the theme of “Accelerating AfCFTA Implementation””.

Historic Partnership Set to Catalyze SME Growth Across Africa

Why This Partnership Matters

The financial partnership with UBA is a strategic commitment to boost SMEs’ growth in key sectors across Africa. SMEs play a critical role in Africa’s economy – driving innovation, creating employment, and contributing to GDP growth. The funding under this partnership will enable SMEs to increase their capacity, enhance their competitiveness, and contribute significantly to the realisation of the AfCFTA’s objectives.

What To Expect at the MOU Signing Ceremony

At this seminal event, we will delve deeper into the purpose of this Agreement, highlighting the pivotal role of SMEs in the African economy, and the crucial need for investment in priority sectors. We’ll provide further insights into the strategic areas of collaboration between AfCFTA and UBA, and the projected impact of this partnership. Furthermore, details about the criteria for SME eligibility for this funding will also be unveiled.

We cordially invite all stakeholders, including government officials, private sector representatives, and members of the diplomatic corps, to attend this ceremony, either in person at the AfCFTA Secretariat, Africa Trade House, Ridge-Accra or online via Zoom (Meeting ID: 931 5496 7339; Passcode: 755508) or via Facebook Live.

Stay tuned for updates and join us as we embark on this exciting new phase of our journey towards a prosperous Africa!

Together, we build the Africa we want.

Credit: The African Continental Free Trade Area

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