The portal holds important information around the documents needed , licenses , permits , certificates , fees due and estimated processing times .
According to the MSME Survey done in Nigeria by PWC , lack of access to adequate information / advice is a core challenge facing MSMEs . The democratization of trade information by the e-TradeHubs portal will drastically reduce the cost of doing business under AfCFTA for SMEs .
Whereas the launch of the trade hub stands to alleviate some pain points for SMEs under AfCFTA , it is critical to note systemic challenges like low internet penetration mar digital trading in Africa . The costs associated with accessing the internet in some countries can prove to be quite prohibitive for SMEs .
According to Aljazeera , the average internet penetration in Africa stands at a meagre rate of 18 % compared to the 30 % global average . Additionally , since the core underpinnings of AfCFTA are based on economic inclusiveness , an uphill task for involved agencies will be working around the barriers of endemic inequality in accessing property rights in different countries on the continent . The juxtaposition of the national interest of individual countries against the collective objective of AfCFTA is likely to present complex friction around compliance with the trade pact .
The AfCFTA council has shown great flexibility in allowing countries that have not yet fully complied with the customs requirements by approving their access to escrow and clearing them for trade . While this shows immense commitment to making the process easier , there needs to be a strong handle led to balancing the compliance requirements . The council will need to boost the robustness of its monitoring mechanisms to ensure compliance loopholes are tightened . Ultimately , there ’ s no single magic formula in operating under the AfCFTA .
The success of the integration efforts will heavily leverage existing trade relationships and the goodwill of the member countries . 65 % of countries have already deposited the ratification instruments , and 69 % have already confirmed compliance with domestic ratification requirements . The greatest chance for leverage by the commission at this point is the continuous amplification of success stories . The trajectory of Kasapreko and Ghandour cosmetics — the pioneer exporters under AfCFTA will always be a long-standing example and inspiration for other MSMEs across the continent .
05
P a g e 1 7 w w w . a f r i c a n c h a n g e m a k e r s . o r g