By Isaac Arkoh
Cape Coast, March 18, GNA – Stakeholders at a day’s dialogue on the African Continental Free Trade Area (AfCFTA) protocol on women and youth-led policies have advocated customised financial solutions to help women and youth-led businesses to benefit from the trade pact.
They identified key challenges faced by women in cross-border trade to include complex customs processes, high transportation expenses, limited access to finance, and gender inequality.
According to them, flexible financial packages, simplified trade procedures, capacity building programmes, gender-inclusive policies and infrastructure development were necessary to enhance trade.
Implementing these solutions could empower women and youth-led businesses to drive Africa’s economic growth under the AfCFTA.
The forum was put together by AfCFTA National Secretariat with support from UNDP on the theme: “Supporting micro, Small and Medium-sized Enterprises for effective participating AfCFTA.”
In attendance were institutions and agencies, trade associations, Civic Society Organisations, academia, traditional leaders, Market Queens and the media.
Mr George Ben Smith, Central Region Chairman of the Ghana National Chamber of Commerce and Industry, urged Small and Medium-scale Enterprises to maintain accessible call centres for enhanced customer service.
He highlighted the need for exceptional customer service to boost customer retention, brand reputation and revenue and proper business documentation for transparency, facilitation of financial support and strategic planning.
In addition, accessible call centres, equipped with assistive technologies and diverse contact options, improve inclusivity and customer satisfaction are key.
By prioritising these measures, SMEs can increase competitiveness and contribute to Ghana’s economic growth,” Mr Smith added.
Mr Paul Kofi McCarthy, Chairman of Ghana Traders Ghana Union Association (GUTA), urged the government to streamline trade policies to address issues of unauthorised foreign traders in Ghana’s markets.
According to him, GUTA had recommended clear trade regulations, leveraging ECOWAS’s Trade Liberalization Scheme (ETLS) for oversight and aligning policies with the AfCFTA to ensure fair competition and sustainable trade growth.
However, some of these traders, particularly from ECOWAS member states, often operated without permission, disrupting local businesses and threatening SMEs’ sustainability.
The phenomena, he said, had resulted in economic instability, job losses and revenue decline by government for accelerated development.
To this end, Mr McCarthy urged government to leverage on GUTA ‘s recommendations and also, regulatory bodies must ensure strict implementation for adherence by foreign traders.
Madam Eden Ayanu, Senior Revenue Officer with Customs Division of Ghana Revenue Authority, called for the promotion of gender equality and inclusion by encouraging SMEs and institutions to establish gender offices to support women and youth-led businesses.
In addition, her outfit had initiated major trade transformational measures, including a simplified goods declaration to streamline, with information provided in local languages for better accessibility.
There was also enhanced cooperation aimed at reducing trade barriers for women, and digitalisation of customs processes to reduce paperwork, delays and costs.
Other speakers buttressed the fact that Ghana was promoting women and youth-led businesses through initiatives like the Ghana Enterprises Agency’s ‘Women MSME’ and ‘Youth MSME’ programmes, which allocated over GH¢90 million in grants to support high-growth MSMEs.
These programmes, according to them, provided training, technical assistance and funding to help businesses to scale up, create jobs and enhance competitiveness.
Additionally, efforts by the UNDP and government policies to improve access to credit, infrastructure, and resources for women and youth entrepreneurs, particularly in
agriculture and agribusiness had fostered inclusivity and economic growth while addressing challenges like limited access to financing and technology.
GNA
AT/CA