THE Government has called for enhanced capacitation of budding women entrepreneurs as part of efforts to improve the quality of products they produce in order to benefit from the vast export opportunities under the African Continental Free Trade Area (AfCFTA).
Micro, Small to medium enterprises (SMEs) in Zimbabwe employ 76 percent of the working population, with 57 percent of these being women, according to a 2021 MSME survey.
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Book NowThis comes as Zimbabwe joins the rest of the world in commemorating International Women’s Day today. Each year, the world marks International Women’s Day (IWD) on 8 March to renew a collective commitment to achieving gender equality. This year’s theme is “Invest in women— accelerate progress.
With the AfCFTA, which was operationalised on January 1, 2021, the MSMEs sector has the potential to tap into a market of about 1,3 billion consumers with a combined gross domestic product (GDP) of US$3,4 trillion.
A recent study by United Nations Women identified opportunities for women entrepreneurs in the AfCFTA. The study focused on three areas of interest: women in informal cross-border trade (WICBT), gender and value chain analysis, and affirmative action/preferential public procurement.
The study further analysed challenges faced by women entrepreneurs and looked at inter-linkages between trade, public procurement, value chains. It also assessed potential ways for improving regional integration frameworks from a gender perspective.
The AfCFTA is seen as a channel to address challenges faced by MSMEs, including limited access to wider markets. The AfCFTA provides a vast marketplace.
However, while the regional trading block presents unlimited export opportunities for MSMEs, especially one run by women, it is also a highly competitive market where the quality of products and services plays a critical role in ensuring small businesses successfully tap into the market.
Commenting on the women and SMEs opportunities in the AfCFTA, deputy director in the Ministry of Women Affairs, Community, Small and Medium Enterprises Development Mr Mamvura Mabika, acknowledged the tough competition on the market from larger and more established businesses, posing a threat to viability of MSMEs.
To offset the challenge, Mr Mabika said improved product quality, innovation, embracing digitalisation, and continuous upskilling become essential to stay competitive.
Organisations such as the Standard Association of Zimbabwe (SAZ) and ZimTrade have played a critical role in ensuring products meet the required quality standards, before reaching the export market, enhancing their competitiveness.
“Good quality is a prerequisite for cross-country trade,” he said at the Zimbabwe Revenue Authority (ZIMRA) Conference on AfCFTA on Wednesday.
He added this should be complemented with training programmes to capacitate them with basic skills covering several aspects inclusive of the knowledge and skills needed to effectively compete in the AfCFTA market.
“Training includes acquiring a deep understanding of market dynamics, trade regulations and the utilisation of digital tools for business expansion,” said Mr Mabika.
Adding on the opportunities for Zimbabwe businesses in the AfCTA, the deputy director in the Ministry of Industry and Commerce Mrs Violet Marabada concurred saying tapping into the 1,3 billion potential customers in the region, will not only help boost intra-regional trade but help businesses access new markets, create new jobs and business development.
“There is increased competition on the AfCFTA which drives innovation, improves quality and better pricing for consumers.
“Businesses also stand to benefit from lower tariffs and simplified customs procedures,” she said. The AfCFTA has generally been viewed as a game changer for budding entrepreneurs creating collaboration and networking opportunities across the region.
Herald
