Paragraph 1: The Genesis of a Pan-African Trade Initiative
Compass Global Business Services, a prominent trade and investment consultancy, recently concluded the second edition of its ambitious West Africa Meets East Africa Trade Mission and Business Development Tour. This initiative, spanning Kenya and Tanzania, represents a concerted effort to unlock the vast potential of the African Continental Free Trade Area (AfCFTA) for women and youth entrepreneurs. By focusing on leveraging regional value chains and fostering vital business linkages, Compass Global aims to empower African SMEs to capitalize on the estimated $22 billion intra-African trade opportunity presented by the AfCFTA. This year’s program, aptly themed “Unlocking the AfCFTA Opportunity for Women and Youths,” builds upon the success of the inaugural edition held in Kenya in March 2023 and signifies a growing momentum in promoting intra-African trade.
Paragraph 2: Collaborative Partnerships for Enhanced Impact
The success of the trade mission is underpinned by a robust network of strategic partnerships. Afreximbank and the UNDP provided crucial support, while collaboration with the AfCFTA Secretariat and FEWACCI (Federation of West African Chambers of Commerce and Industry) facilitated the program’s execution. These collaborations highlight the importance of collective action in navigating the complexities of international trade and fostering sustainable economic growth. Afreximbank’s consistent sponsorship, in particular, has been instrumental in enabling participants to explore regional value chain prospects, engage in deal activations, and establish critical connections for market access.
Paragraph 3: Empowering Women and Youth in Intra-African Trade
Central to the mission’s objectives is the empowerment of women and youth-led SMEs. Recognizing their potential as drivers of economic growth, the program prioritizes providing these groups with the knowledge, resources, and networks necessary to thrive within the AfCFTA framework. The Association of Nigeria Women Business Network and the Women Chamber of Commerce & Industry played pivotal roles in mobilizing key associations and women business networks, ensuring robust participation in deal room activities. The leadership of AWEP West Africa President, Mrs. Comfort Adjahoe-Jennings, who championed a delegation of SME exporters and youth entrepreneurs supported by CAMFED, further underscored the focus on fostering inclusive participation.
Paragraph 4: Facilitating Cross-Regional Connections and Market Access
The trade mission serves as a vital bridge connecting West and East African businesses. By facilitating networking opportunities and promoting cross-regional partnerships, the initiative breaks down geographical barriers and stimulates intra-African trade flows. The East Africa Business Council and the East Africa Women in Business Platform played key roles in connecting participants with their regional counterparts, while business networks such as the SME Founders Association, OWIT Kenya, and WeConnect further broadened the scope of engagement. These collaborations provide invaluable access to market intelligence, expertise, and potential business partners, enabling SMEs to navigate new markets and expand their operations.
Paragraph 5: Quantifiable Impact and Future Expansion
Compass Global’s commitment to fostering intra-African trade is reflected in the quantifiable impact of its programs. Since 2022, over 1,000 SMEs, women, and youth across 22 countries have benefited from their initiatives, with regional events in 2024 alone reaching over 600 SMEs in four countries. This demonstrable success underscores the effectiveness of the organization’s approach in facilitating trade and empowering African businesses. Looking ahead, Compass Global plans to extend the reach of its trade mission in 2025 to encompass other sub-regions, including Central Africa, North Africa, and South Africa.
Paragraph 6: A Vision for a Connected and Prosperous Africa
The expansion of the trade mission reflects Compass Global’s long-term vision of a connected and prosperous African continent, where SMEs play a central role in driving economic growth. By leveraging its extensive networks and deep understanding of the African business landscape, the company is strategically positioned to promote the interests of African SMEs and unlock the full potential of the AfCFTA. This ambitious initiative not only facilitates trade and investment but also fosters economic integration, strengthens regional value chains, and contributes to the overall sustainable development of the African continent.
