AfCFTA: Group urges MSMEs on value addition, processing



The Edo International Business Forum (EIBF), has urged Micro, Small and Medium Scale Enterprises (MSMEs) to invest in product enhancement to benefit from the Africa Continental Free Trade Area (AfCFTA).

Mrs Florence Onere, the President, EIBF, made the call in an interview with the News Agency of Nigeria (NAN) in Benin on Wednesday.

Onere said that promoting the sales of processed and well packaged agricultural products at AfCFTA would make Nigerian MSMEs to be more profitable and competitive.

She said that the patronage of agricultural products in various processed forms had gained ground in the country and would boost the country’s earnings at the free trade zone.

“Look at the immediate needs of the people and develop business activities that will meet the needs.

“Most of our members have gone into food production and processing for export and anticipation of trade at AfCFTA.

“Cassava is being processed to flour at an increasing scale and Cocoyam is also being processed into flour for local trade and export,’’ he said.

NAN reports that AfCFTA was inaugurated in March 2018, with the aim to improve intra-African trade and strengthen Africa’s common voice and policy space in global trade negotiations.

NAN also reports that Nigeria and 35 other African countries have so far ratified the AfCFTA agreement as at February, 2021. (NAN)