AFRICA – The African Continental Free Trade Area (AfCFTA) Secretariat, in partnership with the Mastercard Foundation and TradeMark Africa, has announced a four-year fisheries program to boost fish trade.
The program will be implemented across seven countries, enabling over 240,000 work opportunities and boosting trade in fish and fish products by about US$100 million by 2028.
The “Women and Youth Economic Empowerment in Fisheries” program will enhance women’s and youth’s participation in fisheries in accordance with the adopted AfCFTA Protocol on Women and Youth in Trade.
The program addresses structural challenges women and youth face when participating in the fisheries value chain.
It will offer training, facilitate access to markets and finance, catalyze supply chain linkages, create digital solutions, simplify trade regimes, enhance compliance to standards, and enable streamlined cross-border market access.
“The AfCFTA presents huge opportunities while fostering entrepreneurship and job creation in a market of 1.4 billion people,” H.E. Wamkele Mene said.
“The AfCFTA’s Protocol on Women and Youth in Trade has been developed to foster inclusive economic development by eliminating barriers to trade for women and young people in Africa.
“We are glad the program aligns with our vision of bringing this marginalized group along on this journey to increase intra-Africa trade in “Creating One African Market” to ensure prosperity for all Africans. We encourage the potential beneficiaries to take advantage of this program.”
The program is a culmination of work between the AfCFTA Secretariat and the Mastercard Foundation. This work started with developing the AfCFTA private sector strategy, where priority value chains were identified to boost intra-Africa trade and production.
Trademark Africa will implement the program to benefit Small, Medium, and Micro Enterprises (SMMEs) in Kenya, Uganda, Tanzania, the Democratic Republic of Congo (DRC), Zambia, Nigeria, and selected Island states.
“This program has the potential to catalyze dignified and fulfilling work opportunities for young men and women, foster intra-African trade, and contribute to economic growth and poverty alleviation,” Mr. Daniel Hailu, Executive Director of Pan-African Programs at the Mastercard Foundation, stated.
“Together, we are laying the foundation for a more equitable and sustainable future for all.”
Africa’s fisheries sector plays a major role in food security and the economic well-being of millions of households. The World Bank notes that the industry employs at least 12 million people, the majority of whom are women involved in processing, marketing, and post-harvest processes.
While the AfCFTA presents a unified preferential market opportunity, women and youth may only automatically benefit from such prospects if adequately supported.
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