EAC secures a new trade boost to support entrepreneurs

EAC secures a new trade boost to support entrepreneurs

Partnership agreement

Kampala, Uganda | THE INDEPENDENT | A new $508,000 initiative launched by the United States Agency for International Development (USAID), in partnership with TradeMark Africa (TMA) and the East African Business Council (EABC), will empower 3,000 farmers, processors, and private proprietors, along with 220 small and medium enterprises (SMEs) across East Africa.

The goal of the three-year program is to enhance the region’s trading potential within the African Continental Free Trade Area (AfCFTA).

back link building services=

Funded by USAID’s Economic Recovery and Reform Activity (ERRA), the project aims to reduce trade barriers and expand market access for high-value agricultural exports such as tea, coffee, rice, cotton, and textiles.

According to a joint study by TMA and the East African Community (EAC) Secretariat, the trade potential of the EAC under the AfCFTA is estimated at $1.9 billion. Kenya leads with the largest share, valued at $705.5 million, followed by Tanzania with $594 million and Uganda ranking fourth at $178.2 million.

“This initiative underscores the need for increased collaboration across the region and sustained engagement with policymakers and the private sector on AfCFTA-related matters,” said David Rogers, Deputy Director for USAID Kenya and East Africa.

The partnership also seeks to address 12 high-impact non-tariff barriers while fostering business-to-business trade deals and increasing awareness of AfCFTA market opportunities.

TradeMark Africa CEO, David Beer, emphasized the crucial role of the private sector in shaping policy, stating that “private-sector action is critical to ensure a unified message from businesses to policymakers at national, regional, and continental levels.”

Adrian Njau, Acting Executive Director at EABC, highlighted the project’s focus on inclusivity: “Together, we will enable women, youth, SMEs, and other value chain actors to access trade policy instruments and participate in intra-Africa trade.”

Key collaborators include the East African Women in Business Platform (EAWiBP), the East African Sub-Regional Support Initiative for Advancement of Women (EASSI), and YouLead, all of which aim to ensure broad participation in strengthening East Africa’s trade capacity under AfCFTA

The post EAC secures a new trade boost to support entrepreneurs appeared first on The Independent Uganda:.