Business News of Tuesday, 25 March 2025

Source: www.ghanaweb.com

GNCCI endorses AfCFTA's business visa initiative to boost trade efficiency across Africa

The AfCFTA Secretariat has proposed the implementation of a business visa initiative The AfCFTA Secretariat has proposed the implementation of a business visa initiative

The Ghana National Chamber of Commerce and Industry (GNCCI) has thrown its support behind the African Continental Free Trade Area (AfCFTA) Secretariat’s proposed business visa initiative, aimed at streamlining cross-border trade and improving the ease of doing business across Africa.

During a high-level meeting in Accra on March 24, 2025, GNCCI President Mr. Stephane Miezan led a delegation to engage with H.E. Wamkele Keabetswe Mene, Secretary-General of the AfCFTA Secretariat. Discussions centered on tackling persistent trade barriers and fostering private-sector-led economic integration.

Mr. Miezan highlighted major obstacles hindering Africa’s trade potential, including high logistics costs, fragmented regulatory frameworks, and complex border procedures.

He emphasised the need for a shift from government-led “guided trade” initiatives to a model where the private sector plays a central role in driving trade across the continent.

He also stressed the strategic importance of regional trade corridors, particularly the Lagos-Abidjan route, in unlocking new market opportunities.

“Developing such corridors is not just about building infrastructure; it’s about creating seamless access to new markets for businesses,” he stated.

Additionally, Mr. Miezan introduced the “GNCCI Way” initiative, a program designed to equip young entrepreneurs and women with skills and resources to enhance their participation in trade, addressing unemployment and fostering innovation in Ghana’s business landscape.

In response, H.E. Mene reaffirmed the AfCFTA Secretariat’s commitment to facilitating trade across Africa.

He noted that while the AfCFTA Free Movement Protocol which allows free movement of people, residence, and business establishment has been signed by 33 African countries, only four (Rwanda, Niger, Mali, and São Tomé and Príncipe) have ratified it.

The slow pace of ratification has hindered seamless trade, prompting the need for an interim business visa initiative.

The proposed business visa aims to simplify visa procedures for business professionals, ensuring that trade and talent mobility are not hampered.

H.E. Mene cited the success of a visa facilitation agreement between Ghana and South Africa, which enabled nearly 180 business transactions, as a model for broader implementation across Africa.

Beyond mobility, he revealed that the AfCFTA Secretariat is developing an "adjustments fund", an advanced credit mechanism to provide financial support to African businesses struggling with limited access to affordable capital.

As part of a broader strategy for inclusive growth, H.E. Mene announced a forthcoming Women and Youth Protocol in partnership with UNDP and UN Women. The initiative aims to empower women and young entrepreneurs by enhancing their participation in trade under the AfCFTA framework.

Both GNCCI and the AfCFTA Secretariat affirmed their commitment to collaboration. H.E. Mene assured that the Secretariat would support GNCCI’s advocacy and capacity-building initiatives, stating, “We are ready to work hand-in-hand with the Chamber to drive policies that will transform Africa’s trade landscape.”

Looking ahead, he announced two major trade conferences scheduled for 2025 which are; West Africa Primary Sector Conference in Lomé, Togo and a complementary trade forum in South Africa.

These events will provide platforms for Chambers of Commerce across Africa to exchange ideas, forge partnerships, and strategize for a unified and prosperous African market.

MA

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