The African Continental Free Trade Agreement (AfCFTA) is expected to bring huge gains to Small and Medium Enterprises (SMEs) in Nigeria and other countries on the continent, particularly if they explore technology.
This projection was by Amrote Abdella, the Regional Director, Microsoft 4Afrika, stating the AfCFTA is an exciting game changer agreement for the countries who are signatories. “It can play the role of unlocking innovation, growth and productivity across the continent, but significantly, for its SME segment, by translating spending power into economic development. Cutting red tape and simplifying customs procedures could bring significant income gains for SMEs. By improving their ability to quickly scale up using digital skills, SMEs have the chance to capitalise on the potential trade boom.