UNDP launches HerAfCFTA initiative in Nigeria

HerAfCFTA initiative has been launched in Nigeria by United Nations Development Programme with an investment of $1m in order to promote empowerment of women in African Continental Free Trade Area.

Ahunna Eziakonwa, Assistant Secretary-General of United Nations and UNDP Regional Bureau’s Director in Africa said that the initiative was launched in Lagos, very recently and focuses on enhancing participation of women in trade and economic activities while intending to promote gender equality as well as inclusive economic growth all across the continent.

Adding to the statement, Ahunna said that the significance of collective effort has been highlighted in the initiative for securing women’s prosperous future in unified African market.

She stated, “This is just a seed investment. We are going to invite many more partners to invest in this initiative, as the plan is to provide support for women-owned SMEs and direct support to 300 women-owned SMEs through comprehensive trade readiness and capacity development programs.”

Doris Nkiruka Uzoka-Anite, Minister of Industry, Trade and Investment in Nigeria also added, “As we integrate more effectively into the global economy, we enhance our competitiveness on the world stage. For investment and consumer spending, the International Trade Center estimates that AfCFTA’s target market comprises 1.27 billion people and is projected to rise to 1.7 trillion by the year 2030. Africa’s aggregate GDP is expected to reach $6.7 trillion. Africa will attract about $4tn in investment and consumer spending.”