Facilitating manufacturers will harness the ACFTA potential for growth: Minister Bahati

The African Continental Free Trade Area is a free trade area created in 2018 to commence trading under an agreement among 54 of the 55 African Union nations has been termed y experts as a game-changer that will boost intra-African trade by reducing tariff & non-tariff barriers among other benefits.

The state minister for Trade, Hon David Bahati has highlighted the need to facilitate manufacturers as engines of growth in Uganda and regionally if we are to realize the desired trade boost from the African Continental Free Trade Area.

He made the remarks during the Uganda Manufacturers’ Association (UMA) Membership Engagement Event pictured below whose focus is on how manufacturers can seize the opportunities the AfCFTA presents.

"The African Continental Free Trade Area means that we need to facilitate the competitiveness of manufacturers. As a cabinet, we resolved to give manufacturers electricity at 5 US cents & this will be got straight from generation," he said

The Chairman UMA Deo Kayemba in picture above told participants that in order to adequately take advantage of the opportunities in the ACFTA, there Is a need to be prepared for the wider market.

"The African Continental Free Trade Area is a game-changer for our Continent only if we prepared adequately to take advantage of opportunities therein," he said

According to the UNDP Africa Advisor, Joy Katerega, he stated that with the existing benefits in the AFCTA, Uganda need to position herself to connect, understand the market and look into its AfCFTA strategy.

 "Opportunities under the AfCFTA include the large unexploited African Market, institutional mechanism for reporting NonTariff Barriers and other ongoing capacity building for manufacturing entities" he said

Kkundakwe Matereke from Afrexim Bank said that the bank “offers financing to companies in Africa. However, you don't need to borrow money to supply items. At times all you need is a trading instrument like the export guarantee scheme to give payment assurance to the company in Zambia

Facilitating manufacturers will harness the ACFTA potential for growth: Minister Bahati

The African Continental Free Trade Area is a free trade area created in 2018 to commence trading under an agreement among 54 of the 55 African Union nations has been termed y experts as a game-changer that will boost intra-African trade by reducing tariff & non-tariff barriers among other benefits.

The state minister for Trade, Hon David Bahati has highlighted the need to facilitate manufacturers as engines of growth in Uganda and regionally if we are to realize the desired trade boost from the African Continental Free Trade Area.

He made the remarks during the Uganda Manufacturers’ Association (UMA) Membership Engagement Event whose focus is on how manufacturers can seize the opportunities the AfCFTA presents.

"The African Continental Free Trade Area means that we need to facilitate the competitiveness of manufacturers. As a cabinet, we resolved to give manufacturers electricity at 5 US cents & this will be got straight from generation," he said

The Chairman UMA Deo Kayemba told participants that in order to adequately take advantage of the opportunities in the ACFTA, there Is a need to be prepared for the wider market.

"The African Continental Free Trade Area is a game-changer for our Continent only if we prepared adequately to take advantage of opportunities therein," he said

According to the UNDP Africa Advisor, Joy Katerega, he stated that with the existing benefits in the AFCTA, Uganda need to position herself to connect, understand the market and look into its AfCFTA strategy.

 "Opportunities under the AfCFTA include the large unexploited African Market, institutional mechanism for reporting NonTariff Barriers and other ongoing capacity building for manufacturing entities" he said

Kkundakwe Matereke from Afrexim Bank said that the bank “offers financing to companies in Africa. However, you don't need to borrow money to supply items. At times all you need is a trading instrument like the export guarantee scheme to give payment assurance to the company in Zambia"