Business News of Wednesday, 12 June 2024

Source: Mumuni Yunus, Contributor

Young African Entrepreneurs call on African leaders to remove trade barriers hindering free trade among Africans

President of the AfCFTA Young Entrepreneurs Federation (AfYEF), Prince Siita Sofo Hissan President of the AfCFTA Young Entrepreneurs Federation (AfYEF), Prince Siita Sofo Hissan

The President of the AfCFTA Young Entrepreneurs Federation (AfYEF), a pan-African youth-centered organization has called on policymakers to intensify efforts to abolish all trade barriers affecting trade across the continent.

Prince Siita Sofo Hissan mentioned VISA restrictions and high import duties as top of the challenges hindering the progress of trade in the African continent, urging African leaders to work towards removing such restrictions, especially in trade among African countries.

He believes this will help young African business owners advance trade among themselves and thus lead to economic growth across the continent.

Prince Siita who was speaking at an event to mark the third-anniversary celebration of the AfYEF on Monday said such restrictions defeat the purpose of establishing the AfCFTA which aims at ensuring free trade among Africans.

“Our vision is to see a continent where young entrepreneurs and women in trade can thrive and contribute to economic growth and development,” he said.

He urged the federation’s members to commit to its ideals, stating that AfYEF will leverage the AfCFTA ecosystem to drive sustainable development across Africa.

The AfYEF is a network of young entrepreneurs from across the African continent that serves as a representative voice for young entrepreneurs in the African Continental Free Trade Area (AfCFTA). The AfYEF has grown significantly, expanding its membership from an initial five countries to 20.

It was established in 2021 to mitigate these challenges and called on stakeholders in business and trade to support the federation’s mission of empowering young entrepreneurs.