Undp Accountancy & Finance Test – The African Continental Free Trade Area Agreement (AfCFTA) is a development tool that provides opportunities for Micro, Small and Medium Enterprises (MSMEs) to export to other African countries, boosting intra-African trade. However, MSMEs still lack relevant information on product entry requirements, and on processes and procedures to access the African Single Market.
To bridge the gap, Ghana’s AfCFTA National Coordination Office (NCO) in collaboration with the United Nations Development Program (UNDO) is training selected MSMEs on how to trade under the AfCFTA. The training is under the joint support of Women and Youth-led MSMEs in Ghana to support the Government’s COVID-19 recovery efforts.
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The integrated MSMEs support program includes business development services including access to finance, good corporate governance capacity and awareness building to prevent radicalization, as well as energy and resource support. This AfCFTA training, which is in business development services for MSMEs, is also part of NCO’s market expansion program aimed at equipping businesses to take full advantage of the African Continental Free Trade Area.
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Speaking at the AfCFTA sensitization seminar in Kumasi, the Head of Inclusive Growth and Governance The Commissioner-in-Charge, Edward Ampratwum, emphasized the importance of service development. Business is important for MSMEs.
An integrated approach to support the business ecosystem to enable MSMEs to take full advantage of the opportunities available in the AfCFTA is critical. Our business development services seek to support national priorities to unlock the enormous transformational potential of MSMEs to drive Africa’s long-term prosperity.
The head of AfCFTA National Coordination Office, Dr. Fareed Arthur encouraged MSMEs to focus on improving their internal mechanisms to get the most out of the agreement.
Ghana’s dream to become the manufacturing center of Africa can be achieved by having Your active participation. Also, let us contribute to Ghana’s national export development strategy, to help transform Ghana’s economy from the export of raw goods to the export trade industrial economy.
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The AfCFTA Women and Youth Leadership Workshop is training approximately 600 participants. from 6 selected districts including Ketu South Municipal Council, Sefwi Wiawso Municipal Council, Jomoro Council, Sagnarigu District Council, Kassena-Nankana West and Kumasi Metropolitan Assembly. . Representatives of the Business Advisory Centers (BACs) and Business Resource Centers (BRCs) of the six city councils were also trained to serve as focal persons to inform and sensitize MSMEs about the AfCFTA opportunities and processes.
The participants congratulated and NCO for this training initiative and described the knowledge gained as one that will help grab the opportunity of the single African market.
Initially, I did not know how important it is for me to get the necessary certification for my products and business. I have a better understanding of the right measures and channels to go through in order to register my business and products in a less difficult process because this is a prerequisite for trading under the AfCFTA.
With MSMEs accounting for a significant amount of economic activity in the country, the AfCFTA provides opportunities for them to expand their economic base and contribute to the overall growth of Ghana’s economy.
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I went into herbal medicine. I have been practicing for some years now, but I never knew it was possible to export my products out of Ghana but thanks to this training, I know the steps I need to take to rebrand my business to take full advantage of the AfCFTA.
The training was supported by the Ghana Revenue Authority, the Food and Drug Administration, the Ghana Standards Authority, the Ghana Enterprises Authority, and the Ghana Export Promotion Authority.
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