HomeNEWSSMEs’ preparedness critical for AfCFTA implementation —CEO, Compass Global

SMEs’ preparedness critical for AfCFTA implementation —CEO, Compass Global

A consultancy firm, Compass Global, says the preparedness of SMEs and access to vital information are critical as countries move into the implementation phase of the African Continental Free Trade Agreement (AfCFTA).

The Chief Executive Officer, Compass Global, Mrs Tokunbo Chiedu, said this in a statement on Tuesday in Lagos.

Chiedu said that SMEs represent 90 per cent of businesses, 60 per cent of which still operate in the informal sector, and employ about 60 per cent of workers, many of whom were women and youths.

According to her, the firm, through its Female Leaders and Entrepreneurs Conference (FLEC), would address the needs of SMEs for access to market intelligence, finance and trade information.

She said the platform would also provide market requirements as the region approaches the unfolding implementation of AfCFTA.

Chiedu said the conference would converge Africa’s brightest minds on Nov. 22, in Accra, Ghana, before moving the tour to Kenya in January 2022.

“The event, with its focal point on SMEs and Toolkits to Innovate, Survive and Sustain in the post-pandemic recovery phase, will undoubtedly help towards preparation of SMEs in developing critical business linkages.

She further mentioned that these linkages will assist in leveraging available business opportunities across the continent and attracting strategic partnerships that are vital for business.

Chiedu said delegates could look forward to compelling case studies, and vital lessons to be shared via the masterclasses that would take place during the event.

“FLEC is designed to provide our audience with experiential learning, and powerful tools; a means through which to promote personal or organisational empowerment.

She also stated that this will inspire the self-action that is required to build resilience in these challenging times.

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