The African Business Council (AfBC) said creating an enabling environment for young people in the continent would help them benefit from the African Continental Free Trade Area (AfCFTA).
The Council is established as an institution in line with the African Union Assembly Decision of 2012 on Boosting Intra African trade and Fast Tracking the Establishment of the African Continental Free Trade Area, it was learned.
AfBC President Amany Asfour told ENA that the African Business Council has more than 20 specialized committees in the Council, including agriculture, energy, fashion industry, construction, infrastructure and women, working in conducting studies and research to find out challenges facing youth and tackle them.
According to the president, the most important challenges facing young people are lack of information, financing, and marketing among others.
To this end, she stressed the need to tap the capabilities of African youth in implementing the continental free trade area by developing the work of small companies and increasing the competitiveness of products in the continent.
“To obtain effective benefits from the continental free trade, networking must be achieved between all African productive sectors, where correct and timely information can be obtained” she indicated.
Asfour added creating a supportive environment for young people, linking them to technology and training them to be beneficiaries of the continental free trade area is also imperative.
She further elaborated that the engagement of the youth in continental free trade areas would also increase trade exchange between the countries of the African continent.
Asfour expressed the council's readiness to build the capacities of African youth through business incubators and youth capacity development centers affiliated with the council in Africa.
She further called on African small companies to participate in a competitive program that will be launched to link microenterprises with financing institutions.
"There are many developmental programs carried out by the Council, including the youth program and how to become the next millionaires in the continent through competitions and television programs to find appropriate solutions to African problems, and through this, the investment partner and financiers are summoned for these Start-up companies.”
The president of the Council has praised the African Job Creation Summit, which was hosted by Ethiopia from July 7-9, 2023 and its role in supporting efforts to develop youth skills, create decent jobs, and develop a roadmap to support small businesses in Africa.
Source: Ethiopian News Agency