Biashara Afrika 2024 to drive Intra-African trade, private sector engagement

After the successful launch of the AfCFTA Business Forum in Cape Town, South Africa, the AfCFTA Secretariat is preparing to host the second edition, Biashara Afrika 2024. Set to take place at the Kigali Convention Centre in Rwanda, the forum will be co-hosted by the Rwandan government under the patronage of President Paul Kagame.

With the theme “Dare to Invent the Future of the AfCFTA,” the forum aims to deepen private sector involvement in trading under the AfCFTA framework. As 2024 marks a critical year for the agreement’s implementation, member states are expected to intensify efforts to empower the private sector, enabling them to seize the numerous opportunities the AfCFTA presents.

A key highlight of Biashara Afrika 2024 will be the second edition of the Guided Trade Initiative (GTI), featuring over 30 participating countries from across the continent. These nations will showcase products from diverse sectors, facilitating business-to-business matchmaking to boost export and import opportunities. The GTI seeks to increase trade under the AfCFTA, with a focus on creating opportunities for SMEs, youth, and women in trade. By promoting intra-African trade, the initiative aims to drive sustainable and inclusive economic growth.

The forum will attract a wide range of participants, including representatives from Africa’s private sector, strategic investors, financial institutions, investment promotion agencies, multinational corporations, as well as women and youth business organizations. Heads of State, government officials, and key AfCFTA partners will also be in attendance.

AfCFTA Secretary-General Wamkele Mene has called on the African business community to participate actively in Biashara Afrika 2024. “The private sector is the engine of trade, job creation, and innovation,” Mene emphasized. “I encourage everyone to leverage Biashara Afrika to engage in productive dialogues, share experiences, and develop strategies that will drive Africa’s economic transformation.” He further stressed that achieving AfCFTA’s goals of boosting intra-African trade and fostering economic growth will require full business community engagement.

The event will also cover critical themes such as “The AfCFTA Reality: Daring Intra-Africa Trade” and celebrate “African Champions Unlocking Intra-Africa Trade.” Additionally, it will address operational concerns like customs processes under AfCFTA and explore solutions to trade finance challenges. Other areas of focus will include investments in automotive value chains, fostering success for African businesses within AfCFTA, and supporting sustainable pharmaceutical manufacturing on the continent. Prominent discussions will also center on driving youth and women’s entrepreneurship through digital trade.

Rwanda’s Minister for Trade and Industry, Hon. Prudence Sebahizi, expressed the country’s excitement in hosting the forum, noting its importance as a platform for collaboration between decision-makers, public and private sector leaders, and partners. “Rwanda is committed to being a catalyst for trade, innovation, and sustainable growth,” Sebahizi stated, adding that the forum will be instrumental in shaping new pathways to achieving the AfCFTA’s vision of creating a single African market. The minister also underscored Rwanda’s commitment to empowering Micro, Small, and Medium-Sized Enterprises (MSMEs), women, and youth, recognizing them as key drivers of innovation and economic growth.

Biashara Afrika 2024 is poised to be a transformative event, fostering dialogue between Africa’s public and private sectors, multinationals, and other key stakeholders on the challenges and opportunities in creating a unified African market. The forum promises to be a cornerstone in the future of intra-African trade and investment.