Agency empowers SMEs, commits to intra-African commerce

Main commerce and funding consultancy, Compass International Enterprise Providers has concluded the second version of its West Africa Meets East Africa Commerce Mission and Enterprise Growth Tour.

A press release on Saturday by the Chief Government Officer, Mrs Tokunbo Chiedu, this dual-country initiative, spanning Kenya and Tanzania aimed to unlock the African Continental Free Commerce Space alternatives for girls and youths, by leveraging regional worth chains and fostering enterprise linkages.

Constructing upon the success of its inaugural version hosted in Kenya in March 2023, this yr’s programme, themed “Unlocking the AfCFTA Alternative for Girls and Youths,” centered on enhancing intra-African commerce.

Organised by Compass International with help from Afreximbank and the UNDP, the occasion was facilitated by way of strategic alliances with the AfCFTA Secretariat and FEWACCI.

Talking on the first aim of the tour, Chiedu mentioned, “Our major aim is to empower SMEs to reap the benefits of AfCFTA and the $22 billion intra-African commerce potential.

“This initiative gives steering on navigating exports and commerce inside the AfCFTA and helps SMEs set up enterprise partnerships to broaden their financial potential.

“By way of our 2024 applications, Compass International has organised regional occasions for over 600 SMEs throughout 4 international locations, benefiting over 1,000 SMEs, girls, and youth concerned in commerce throughout 22 international locations since 2022.”

She recommended Afreximbank for its constant sponsorship, acknowledging its essential function in supporting the commerce mission’s major purpose: exposing contributors to regional worth chain prospects by way of deal activations, networking, and establishing very important connections for market entry.

Strategic companions, such because the Affiliation of Nigeria Girls Enterprise Community and the Girls Chamber of Commerce & Business, performed a significant function in mobilising key associations, girls enterprise networks, and SMEs to actively have interaction within the deal room actions. The efforts of AWEP West Africa President Mrs. Consolation Adjahoe-Jennings, who led a crew of SME exporters and youth entrepreneurs supported by CAMFED, had been additionally noteworthy.

Different vital gamers acknowledged for his or her contributions embody the East Africa Enterprise Council, the East Africa Girls in Enterprise Platform, and main enterprise networks such because the SME Founders Affiliation, OWIT Kenya, and WeConnect.

Constructing on the success of the 2nd version, Compass International goals to broaden this initiative in 2025 to incorporate extra sub-regions corresponding to Central Africa, North Africa, and South Africa. This growth will leverage the corporate’s intensive networks and shut affiliations with SMEs, enhancing its entry to invaluable market intelligence and networks to successfully promote the pursuits of Africa’s SMEs.