EU pledges €11m to young entrepreneurs in southern Africa.

SIFISO MAPURANGA

The European Union (EU) has pledged to provide   about €11m  to young entrepreneurs in southern Africa in order for them to participate competitively  in the African Continental Free Trade Area (AfCFTA) ,the largest free trade area in the world by number of participating countries , Business Times can report.

 

With 1.3 billion people connected across 55 countries and a combined gross domestic product valued at US$3.5 trillion, the AfCFTA came into effect in 2019.

 

The development was revealed by the EU Ambassador to Zimbabwe Jobst von Kirchman at the recent youth business forum  held in the capital Harare.

 

“Through this AfCFTA) initiative the African continent is looking forward to expand its regional integration in a way of creating a single market for goods and services, promoting free movement of business persons,” Ambassador Kirchman said.

He added: “Ultimately this is an initiative that will enhance change within Africa.  Think of it as a game changer, a plan to create a massive market were goods can toll freely across Africa. It is about making it easy for business to connect, for people to move and everyone to benefit.”

Mashonaland West Minister of State  for Provincial Affairs  and Devolution Marian Chombo weighed in saying: “Devolution has the potential to empower urban and rural youths, enabling them to dwell their own economic parts and leverage their unique strength for growth and development. There is enhanced local decision making as devolution allows for rural and urban areas to have more control over their economic policies and also in rural areas decision making is brought closer to enabling them to shape their own future.”

 

Speaking at the same event, Botswana Ambassador to Zimbabwe ,Sarah Molosiwa, urged young entrepreneurs to take part in the AfCFTA.

“The AfCFTA is a very good project which will encourage young entrepreneurs to be dedicated to compete in the regional market and even the quality of products produced should be of standard for either of the countries. Botswana is giving a provision of match making youth entrepreneurs in Zimbabwe with the ones in Botswana working on the same project to partner,” said Botswana Ambassador to Zimbabwe Sarah Molosiwa.

 

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