Youth tipped on ways they can reposition their businesses through AfCFTA
The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs).
Frank Semata 
Youth business owners, innovators, young investors from diverse sectors in Uganda have been tipped on ways they can ably reposition their businesses through the Africa common market, The Africa Continental Free Trade Area (AfCFTA)
The Youth Alliance for Leadership and Development in Africa (YALDA) Uganda Chapter in partnership with KACITA Youth League organized the Youth4AfCFTA Conference 2023 under the Theme “Repositioning Youth Businesses for AfCFTA” to correct information asymmetry on the AfCFTA, learn, discuss and create business partnerships in bid to reposition youth-led businesses for growth, funding, expansion and meaningful participation in the AfCFTA.
The AfCFTA was established in 2018 with the aim to create a single market for goods, services, facilitated by movement of persons to deepen the economic integration of the African continent, under the Pan African Vision of “An integrated, prosperous and peaceful Africa. Consolidating Africa into one trade area provides great opportunities for entrepreneurs, businesses and consumers across the continent and the chance to support sustainable development in the world’s least developed regions.
The Youth4AfCFTA Conference organized at Uganda National Cultural Centre (UNCC) attracted a number of youth from various sectors including trade, academia among others. Facilitators with a proven long-standing business record tasked youth to make the most of the AfCFTA so as to realize economic growth.
An expert panel that included Jacklene Arinda, CEO Jada coffee, Musinguzi Godfrey, a film curator, Immy Ainomugisha, founder Mkaziprenuer and Bugingo Don Patrick, MD Aloesha Organic discussed pertinent issues to drive the AfCFTA agenda home including opportunities and cautions, How to Reposition Youth Businesses for Meaningful Participation as well as mindset change to achieve import-export substitution.
Joshua Mawerere, the ED YALDA – Uganda chapter highlighted the opportunities young people can explore within the AfCFTA
“The consumer market now understands why it’s important to buy African products so that we build Africa. The 3 billion people is a huge market that we can explore as young people if we produce for that market. The inter-trade is growing every other day, countries are realizing they can freely trade with their neighbors and this will bring about peace and harmony.”
Patrick Don Bugingo, MD Aloesha Organics implored youth to explore more opportunities within Africa through undertaking research and understand the supply chain as well as get into the habit of learning new languages.
“To make a move into the AfCFTA, you need to do product research and adaptation of what the entire market as Africa requires from you in eference to your products, also understand the product value chain and be able to optimize in that direction, and also networking and collaboration will take your business to new heights.”
Augustine Otuko, Private Secretary to HE the President in charge of Political Affairs that it's imperative for business persons who wish to trade within the common markets to understand the direction which Africa is taking.
“It's important to note that Africa is working towards stability and economic independence where we will have our own banks, our own infrastructure - railways and roads connecting to different countries - an Africa where we shall not have trade barriers and sectarian and selfish tendencies.”
He added that one thing that is holding African traders behind is politicking everything instead of understanding the economic impact.
Otuko also highlighted pertinent issues that are threats to holding progress of young people.
“Some of the threats to our progress as young people in bid to make case in the AfCFTA include; the "special syndrome", a case where youth feel they should be treated with utmost care which encourages laziness, the "university syndrome", where youth feel they cannot do odd jobs because they hold degrees, the "rocket missile syndrome", where a startup business owner wants to live a lavish life instead of investing, the " bandwagon/copycat syndrome", competing against each other.”
Richard Nuwenyesiga, Deputy Director Domestic Investment Division - Science Technology and Innovation at Uganda Investment Authority noted that youth should make best use of the huge investment opportunities in Uganda, he also tipped them on business diversification which in turn will grow more sources of income as well as develop the economy.
About AfCFTA
The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs).
The overall mandate of the AfCFTA is to create a single continental market with a population of about 1.3 billion people and a combined GDP of approximately US$ 3.4 trillion. The AfCFTA is one of the flagship projects of Agenda 2063: The Africa We Want, the African Union’s long-term development strategy for transforming the continent into a global powerhouse.
As part of its mandate, the AfCFTA is to eliminate trade barriers and boost intra-Africa trade. In particular, it is to advance trade in value-added production across all service sectors of the African Economy. The AfCFTA will contribute to establishing regional value chains in Africa, enabling investment and job creation. The practical implementation of the AfCFTA has the potential to foster industrialisation, job creation, and investment, thus enhancing the competitiveness of Africa in the medium to long term.
