NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone – Bent on the African Continental Free Trade Area (AfCFTA) steadied to yield possible profits of up to $450 billion according to the World Bank, the International Trade Centre (ITC) and the Organization of Women in International Trade (OWIT) in Nairobi, in collaboration with OWIT Nigeria and OWIT Zimbabwe, are partnering to fund African women entrepreneurs to participate in intra-regional trade.

Speaking during the Africa Women Trade Conference composed by the two organizations on November 25 and 26, Aissatou Diallo, ITC Senior Coordinator for the AfCFTA and Least Developed Countries, announced that, trade under the AfCFTA would navigate bigger increases in revenue for business women.

Themed ‘Empowering Women in Intra-Africa Trade’ ,the conference enables women entrepreneurs to trade cross continentally, taking advantage of the AfCFTA’s tremendous potential for trade within the regional and continental markets. The conference further focuses on Africa’s investment opportunities while creating an opportunity for women entrepreneurs and business leaders to meet with investors.

Supported by ITC’s One Trade Africa programme, the two-day hybrid event, with 200 participants on-site and 1,000 joining virtually, brings together traders, government agencies, financial institutions, investors, small businesses and local eco-system partners.

Experts attending the conference say it is critical to establish what the AfCFTA means for women in terms of their participation in cross-border trade, value chains and public procurement from the onset. They also underscore women and youth are key stakeholders in continental economic development, as Africa’s informal sector accounts for 85% of the continent’s total economic activity; and while women account for 90% of the labour force in the informal sector, making up 70% of the continent’s informal traders.

OWIT in Nairobi, Nigeria and Zimbabwe, are co-operating to fulfill as a strategic response in enhancing the capabilities of African women entrepreneurs at all levels across the continent. They will work together to empower women in developing new and innovative strategies to intelligence, including competitive intelligence to trade beyond their borders.

During the event, Caroline Gathii, President of OWIT Nairobi, said, “we are honoured to partner with ITC through the One Trade Africa programme on the Africa Women Trade Conference which is the first of its kind in the region. The conference provides a platform for connections, collaborations, and exchange of ideas between Africa states. Together with ITC we will seek to explore avenues of increasing intra-African trade among women in the region.”

For New Africa Daily News Abdul Rahman Bangura Reports,  Africa Correspondent

NEW AFRICA DAILY NEWS (NADN) Accra GHANA – Ghanaian businesswoman and entrepreneur Roberta Annan launched a €100 million fund to channel investment into small and medium African creative and fashion enterprises in Africa.

The Impact Fund for African Creatives (IFFAC), will award grants of up to €50,000 to selected projects to accelerate development of the continent’s creative sector.

The fund was launched during Paris Fashion week.

The Africa Investment Forum, a flagship initiative of the African Development Bank, aims to channel investment into Africa.

Annan, who also founded the African Fashion Foundation, said that, in addition to grants, IFFAC will make a further €250,000 – €2 million in venture capital available to African entrepreneurs who complete its skills-building program. “I have encountered so much incredible talent all over the continent, such originality and innovation,” said Annan. “But I have also noticed a lack of management skills, infrastructure, and start-up capital necessary to scale these creative businesses. This is the motivation behind IFFAC,” she said.

Anohu said the Africa Investment Forum has been in talks with IFFAC as it curates projects that will feature at its upcoming AIF 2021 Market Days to be held in Abidjan, Cote d’Ivoire, from December 1-3.

“I applaud IFFAC for its plans to bring early-stage capital deployment, along with a structured program of training and mentorship to artists and entrepreneurs like Nigerian designer Kenneth Ize,” said Anohu. “For all those investors in this room, who believe, like I do, in the potential for commercializing the exports of Africa’s creative genius, I invite you to contact the Africa Investment Forum.”

Africa’s creative industry is an increasingly important part of the investment mix for the future of the African economy; The Forum’s 2021 Market Days will showcase creative and cultural- sector deals from around the continent, including in film and television, as well as women-led projects, among other sectors.

For New Africa Daily News Richard Adorsu Reports,  Africa Correspondent