AfCFTA Unlocked: Opportunities and Implications for Youth in Entrepreneurship

The African Continental Free Trade Area (AfCFTA) is more than just a trade agreement; it is a monumental step towards the economic integration of Africa. Operational since January 1, 2021, AfCFTA stands as the world’s largest free trade area, encompassing 54 countries, over 1.3 billion people, and a combined GDP exceeding US$3.4 trillion. By eliminating tariffs on 90 percent of goods and reducing trade barriers, AfCFTA is set to revolutionize intra-African trade, fostering economic cooperation and regional integration.

At the core of this transformation is Africa’s youth, who make up over 60 percent of the continent’s population. The AfCFTA offers young entrepreneurs unprecedented access to a vast, integrated market, potentially creating millions of jobs and driving industrialization across Africa. However, despite these promising prospects, many young Africans remain uninformed about AfCFTA and its benefits, leaving them unable to tap into the opportunities it presents.

This is where the African Center for Economic Transformation (ACET), in collaboration with the Mastercard Foundation, steps in. On September 26, 2024, ACET will host its Intergenerational Dialogue (IGD) under the theme “AfCFTA Unlocked: Opportunities and Implications for Youth in Entrepreneurship.” This virtual dialogue is designed to bridge the knowledge gap and empower young entrepreneurs across Africa to leverage the AfCFTA for business growth and economic transformation.

The Importance of the Intergenerational Dialogue

ACET’s Intergenerational Dialogue is more than just a conversation; it is a platform that brings together the voices of the younger and older generations to discuss the socio-economic issues that matter most. In this edition, the focus will be on how youth-led enterprises can take advantage of AfCFTA’s provisions to overcome existing barriers and expand their businesses across borders.

The event will feature three key sessions:

1. Trade Challenges Faced by Youth-Led Businesses: A moderated discussion where young entrepreneurs share their experiences and the hurdles they face in cross-border trade.
2. Awareness and Understanding of AfCFTA Protocols: An educational session featuring AfCFTA officials and youth representatives, aimed at increasing awareness of AfCFTA’s benefits and how young entrepreneurs can take full advantage of them.
3. Leveraging AfCFTA for Business Growth: Real-life case studies and testimonials from young entrepreneurs who have successfully tapped into AfCFTA’s opportunities, offering insights and practical strategies for others to follow.

Key Objectives

• Raise Awareness: Inform and educate young entrepreneurs about AfCFTA protocols and how to leverage them for business opportunities.
• Facilitate Knowledge Sharing: Promote intergenerational exchanges between experienced entrepreneurs and policymakers with young entrepreneurs.
• Empower Policy Advocacy: Equip young entrepreneurs with the skills and platforms needed to engage in policy advocacy, ensuring their voices are included in the AfCFTA implementation process.

Ultimate Outcomes

• Enhanced Understanding: Young entrepreneurs gain a comprehensive understanding of AfCFTA and its potential benefits.
• Strengthened Collaboration: Foster strong partnerships between young and older entrepreneurs, leading to innovative and competitive business practices.
• Increased Youth Participation: Encourage greater involvement of young entrepreneurs in policy discussions, resulting in more inclusive and effective trade policies.

Join the Conversation

This event will bring together a diverse group of participants, including young entrepreneurs, policymakers, industry players, and representatives from financial institutions and youth organizations across Africa. The dialogue will be hosted on Zoom and streamed across various social media platforms, with simultaneous interpretation available in English, French, and sign language.