The African SMEs Forum, jointly organized by the General Confederation of Moroccan Enterprises (CGEM) and the African Development Bank (AfDB) in Rabat, Morocco, brought together delegations from 20 African countries to discuss strategies for economic integration and the advancement of the “Made in Africa” initiative.
Key Highlights from the Forum
- Boosting Intra-African Trade
- Africa’s intra-trade rate stands at 15%, significantly lower than Asia’s 58% and Europe’s 68%.
- Leaders called for a concerted effort to improve trade integration across the continent by leveraging resources for local development.
- Sectoral Transformation
- Focus areas include automotive, textiles, agri-food, and technology sectors.
- Strategies such as enhancing value chains, fostering innovation, and harmonizing trade regulations were emphasized.
- Public-Private Collaboration
- A CGEM/AfDB study underscored the need for cooperation between governments and private entities to build competitive ecosystems.
- Developing local talent was highlighted as a critical step, especially with Africa’s burgeoning youth population.
- Leveraging the African Continental Free Trade Area (AfCFTA)
- The forum stressed the potential of the AfCFTA to drive regional integration and create a unified market for African goods and services.
- Focus on SMEs
- SMEs, which generate 75% of the continent’s jobs, were identified as pivotal to Africa’s development.
- Participants urged leaders to craft policies that empower SMEs to thrive in local and international markets.
Statements from Key Leaders
- Younes Sekkouri, Minister of Economic Inclusion, Morocco:
“Africa must focus on unlocking its potential by fostering innovation and developing competitive local industries.” - Chakib Alj, CGEM President:
“Africa’s intra-trade remains alarmingly low. We must harness our resources to prioritize local development and elevate the ‘Made in Africa’ agenda.”
Path Forward
The African SMEs Forum represents a strategic step in addressing Africa’s trade challenges and promoting sustainable growth. By enhancing value chains, strengthening collaboration, and leveraging AfCFTA, the continent aims to establish itself as a major global economic player.
