Africa-Press – Mauritius. The Minister of Gender Equality and Family Welfare, Mrs Kalpana Devi Koonjoo-Shah expressed hope that the Africa Continental Free Trade Area will help eliminate a number of barriers for women entrepreneurs and youth to trade and provide a new direction for women entrepreneurs of the region.
The Minister participated yesterday, in a Dialogue with women entrepreneurs under the theme ‘Women in Economic Governance: Breaking down barriers and influencing change’, at the Caudan Arts Centre in Port-Louis.
The event was organised by the United Nations Development Programme (UNDP) in the margins of the Africa Economic Conference with women entrepreneurs from Mauritius and other parts of Africa.
Minister Kalpana Devi Koonjoo-Shah also had prior to the event, a bilateral meeting with the UNDP Assistant Administrator and Africa Regional Director, Ms. Ahunna Eziakonwa.
In her address, Minister Koonjoo-Shah underlined that women-owned businesses in general face several challenges that could indeed hamper effective participation in the regional markets, which have been exacerbated by the multiple shocks brought forth by the COVID-19 pandemic.
She highlighted the multiple struggles women business owners face in their attempt to expand their business or venture in new markets, such as lack of access to finance, lack of flexibility from traditional financial institutions, and lack of guidance and support.
She underlined that that the agenda for the new Agreement of the Africa Continental Free Trade Area, seeks to address the specific constraints faced by women-owned businesses and specifically support women entrepreneurs to take advantage of opportunities created, in terms of fostering diversification of goods and services traded; integration of small and medium size enterprises into regional value chains.
Besides, the Minister underpinned the Africa Continental Free Trade Area as one of the greatest achievements that Africa has seen in this 21st century for it provides a unique and tremendous opportunity for African countries to address the issue of poverty, unemployment as well as a means to promote inclusion.
It is expected to contribute to lifting an additional 30 million people from poverty; whilst income gains could raise by 7% or nearly US$ 450 billion, she stated.
Moreover, Mrs Kalpana Devi Koonjoo-Shah recalled that Mauritius was commended for being one of the first countries in the region to ratify the Agreement in September 2019, which according to her demonstrates Government’s boldness and commitment in being at the forefront when it comes to bolstering the country’s trade and economic environment.
The Africa Continental Free Trade Area, she stressed, is considered as being an anchor for long-term reform and integration and poised to make a breakthrough in export of goods to the African continent.
According to Minister Koonjoo-Shah, the implementation of the Africa Continental Free Trade Area comes at an opportune time to back up Governmental efforts to bounce back and regain resilience against the backdrop of global challenges.
She emphasised that it will unlock market opportunities in other African countries with high buying potential which will have positive ripple effects namely, the improvement in working conditions of women who could aspire for higher remuneration and the provision of new employment perspectives thereby developing their entrepreneurial capabilities by establishing their own businesses for export to Africa.
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