CCA President Florizelle Liser on tackling intra-African trade bottlenecks

The second edition of the African Continental Free Trade Area business forum, Biashara Afrika, is currently underway in Kigali, Rwanda. The focus of the forum is to discuss and address the bottlenecks hindering intra-African trade. Florizelle Liser, President & CEO of the Corporate Council on Africa, shared her insights on the potential of African companies to manufacture goods within the continent, the progress of the AFCFTA, and the involvement of American businesses in investing in Africa to enhance trade opportunities. Liser expressed her enthusiasm for the forum, highlighting the commitment of the Corporate Council on Africa (CCA) to the AFCFTA. She emphasized the transformative impact of the agreement on Africa's global economic standing, including its potential to strengthen relationships with the United States. The sessions at the forum showcased various discussions, including empowering women entrepreneurs, facilitating trade among Micro, Small, and Medium Enterprises (MSMEs), and engaging public and private sectors to advance the AFCFTA agenda. One significant development discussed was the successful shipment of goods from Uganda to Ghana under the AFCFTA trade initiative, signaling a notable breakthrough in promoting trade across African borders. Liser acknowledged the challenges faced, such as goods being stuck at ports, but remained optimistic about overcoming obstacles with strong political will and commitment to the AFCFTA objectives. American businesses affiliated with the CCA have shown increasing interest in the AFCFTA, with inquiries evolving from skepticism to recognition of its tangible benefits. Liser commended African nations for swiftly negotiating and implementing the AFCFTA, contrasting it with the lengthy multilateral trade negotiations commonly witnessed globally. While acknowledging the implementation challenges, Liser highlighted the vital role of U.S. companies in diversifying their operations in Africa and contributing to sectoral growth, notably in areas like energy, mining, and medical manufacturing. Key Themes: 1. Unlocking Intra-African Trade Potential: The AFCFTA is positioned to revolutionize intra-African trade by fostering cooperation among African countries and facilitating the movement of goods and services across borders. Initiatives like the guided trade program have demonstrated early success in promoting trade activities within the continent. 2. American Business Engagement: American companies, both longstanding multinationals and newer entrants, are increasingly recognizing Africa as a strategic component of their global business strategies. Investments in diverse sectors, including medical manufacturing for products like mRNA vaccines, underscore the evolving landscape of U.S.-Africa trade relations. 3. Implementation Challenges: While the AFCFTA presents significant opportunities for economic growth and trade expansion, overcoming implementation hurdles remains a critical aspect. Issues such as logistical constraints at ports highlight the need for streamlined processes and coordinated efforts to realize the full potential of the free trade agreement. Florizelle Liser emphasized the resilience and determination of African nations in driving the AFCFTA forward, expressing confidence in the long-term benefits of enhanced intra-African trade. As the forum continues to facilitate dialogue and collaboration between various stakeholders, including businesses and policymakers, the momentum towards a more integrated African trade landscape is expected to gain further traction.