Monica Mutsvangwa: Zimbabwe should increase female presence in The African Continental Free Trade Area
The government is intensifying efforts to formalize micro, small and medium enterprises (MSMES) owned by women
African Continental Free Trade (AfCFTA) cabinet minister stated that the Government is stepping up its efforts to formalise micro, small and medium-sized enterprises (MSMEs) that are owned by women, in order to increase the competitiveness of female gender within of the African Continental Free Trade Area (AfCFTA).
Monica Mutsvangwa, Women Affairs, Community, Small and Medium Enterprises Development Minister, noted this at an Open Market Day and exhibition organised by the Organisation of Women in Trade (OWIT) and Ecobank in the capital on Monday.
She noted that more than half of MSMEs in the country, which is 3.4 million, are led by women, but most of them are in the informal sphere. She stressed that women play an important role in the country’s economy, and the Government attaches great importance to this, providing them with favorable conditions for work and success.
The Open Market Day and Exhibition is an opportunity for Zimbabwean women to show their skills, innovation and analytical abilities at the regional and international levels. Zimbabwe is one of the first countries to sign and ratify the African Continental Free Trade Area (AfCFTA), and the event encourages women to use the opportunities of this huge market to promote regional integration.
AfCFTA provides ample opportunities for investment and trade, which the government wants to take advantage of for the benefit of local women. If the AfCFTA is successfully implemented, a significant increase in consumer spending is expected on the continent, reaching $6.7 trillion by 2030 and $16.12 trillion by 2050, making it the largest free trade area in the world since the WTO was established in 1994.