Small businesses in Benin set to tap into African free trade area
As Benin moves closer to the African Continental Free Trade Area (AfCFTA), small businesses are learning how they can prepare to take advantage of new opportunities.
More than 100 local enterprises went through the ‘How to Export with the AfCFTA’ workshop, which the International Trade Centre (ITC) has rolled out across the continent.
As part of the workshop in Cotonou, 20 Beninese trainers also learned how to conduct their own workshops, so that they can continue spreading their free-trade know-how to small and medium-sized enterprises (SMEs).
‘Exporting is not easy for a company,’ said ITC expert Ilyas Choubaili, who conducted the training of trainers. ‘It is necessary to prepare, be ready to export, optimize cross-border trade, logistics, penetrate the market, and carry out risk studies. It is also crucial to understand how to finance your intra-African export.’
The new trainers that he worked with got hands-on experience, by leading the second phase of the workshop that guided business leaders ‘How to Export with the AfCFTA.’
That component highlighted the technical considerations, export opportunities, and financial benefits unlocked by the AfCFTA. The businesses worked with the trainers to assess their export readiness for intra-African trade. They were introduced to key logistics challenges and opportunities. And they learnt how to select high-potential export markets, and identify and comply with export documents and intra-African trade regulations.
‘There is a voracious appetite within the AfCFTA for Beninese products and services,’ said Ludmila Azo, country manager at ITC. ‘It is about making them more competitive on the one hand, and on the other, equipping our SMEs to export better.’
The workshop was organized with Benin Chamber of Commerce and Industry and the Investment and Export Promotion Agency (APIEx Benin).
The ‘training of trainers’ was conducted by ITC and supported by the Benin Chamber of Commerce, APIEx Benin, Beninese Customs, the Ministry of Industry and Trade, and the Autonomous Port of Cotonou.
Interactive workshop
The event followed ITC's new digital workshop methodology with presentations, videos, exercises, and conferences. ‘It is an interactive workshop for sharing and exchange,’ said Ilyas Choubaili. Several stakeholders participated, including ITC trainer who introduced the African Trade Observatory, and a representative from Benin Customs who discussed customs formalities. As a partner and lead funder of the training programme, the African Export-Import Bank (Afreximbank) showcased its export support products and various solutions designed to help SMEs integrate within the AfCFTA.
Benin is one of the 54 African Union member states that have signed the AfCFTA agreement, but has yet to ratify it.
ITC and Afreximbank have also established a complementary free online training platform, which has trained over 10,000 small businesses.
This workshop in Benin was implemented through new support provided from the International Islamic Trade Finance Corporation.
