AU introduces new trade initiative

Written by on February 23, 2019

THE Zambian private sector should consider being on a new initiative called Afro Champions Initiative meant to expand the markets across the continent, says African Union (AU) commissioner for trade and industry, Albert Muchanga.

Mr Muchanga, said the union was currently introducing new initiatives meant to engage with the private sector so that they could expand their businesses.

He was speaking recently in Lusaka at a meeting to discuss the African Continental Free Trade Area Agreement.

“We are also engaging with the private sector to increase investments across Africa. This will serve as a stepping stone to becoming a multi nationals corporation to the rest of the world.

“So I invite all Zambian business people to consider the Afro Champions Initiative. If you get with us on this, we can link you to the secretariat body of that initiative. Private Sector Trade and Investment Committee of Africa,” he said.

He said it was a platform that would bring together the private sector and the ministers responsible for trade and investment on how to improve the investment trade across Africa.

Ambassador Muchanga also said AU had introduced an electronic platform for small and medium enterprises (SMEs) to be launched before the end of this year.

He explained that the Union was targeting to work with about 600,000 SMEs within the next four years across Africa.

“Within that period, we will also target to create 22 million jobs for the youths. One of the greatest dangers Africa faces is youth unemployment, it can be a social and political problem and it is not timely handled, so that way we are trying to improve productivity,” he said.

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