UBA Ghana Ltd and GEPA Host Seminar on AfCFTA Opportunities for SMEs

UBA Ghana Ltd , in collaboration with the Ghana Export Promotion Authority (GEPA), convened a seminar yesterday tailored for exporters and individuals seeking to penetrate the African market. The event, which took place at the 1st Floor of Africa Trade House, aimed to shed light on the opportunities arising from the African Continental Free Trade Area (AfCFTA) agreement.

The seminar attracted a diverse audience eager to explore the potential of the AfCFTA agreement, which has been touted as a game-changer for intra-African trade. With the agreement in place, businesses across the continent stand to benefit from reduced tariffs and enhanced market access, creating a conducive environment for economic growth and development.

The event featured presentations from key stakeholders, each providing insights into different aspects of the AfCFTA and its implications for Ghanaian businesses. Mr. Mickson Opoku from the Ministry of Trade & Industry set the stage by presenting the background and rationale behind the AfCFTA agreement, emphasizing its significance in fostering regional integration and economic cooperation.

Dr. Fareed Arthur, Coordinator of the AfCFTA National Coordinating Office (NCO), highlighted Ghana's preparedness and trade initiatives in light of the AfCFTA. He outlined strategic measures being undertaken to leverage the opportunities presented by the agreement and ensure that Ghanaian businesses are well-positioned to compete effectively within the African market.

Mr. Fechin Yao Akoto from the Ghana Revenue Authority (GRA) provided valuable insights into the implementation processes of the AfCFTA, including rules of origin, approval processes, criteria, tariff schedules, and commitments. His presentation shed light on the practical steps required for businesses to navigate the complexities of the agreement and maximize its benefits.

Mr. Charles Arthur Ntiri from the Ghana National Chamber of Commerce and Industry (GNCCI) elucidated on the specific benefits accruing to Ghanaian companies under the AfCFTA. He underscored the importance of proactive engagement and strategic partnerships in harnessing the full potential of the agreement for local businesses.

GEPA representatives introduced the Ghana Trade House concept and highlighted the market opportunities available to exporters within the framework of the AfCFTA. Their presentation aimed to provide practical guidance to businesses seeking to expand their footprint in the African market.

UBA Ghana Ltd concluded the seminar with a presentation on AfCFTA loan facilities, trade, and payment systems aimed at facilitating seamless transactions and enhancing trade facilitation within the AfCFTA framework. The bank's initiative aligns with its commitment to supporting Ghanaian businesses in capitalizing on emerging opportunities within the continent.

The seminar served as a valuable platform for stakeholders to exchange ideas, share best practices, and explore collaborative opportunities in harnessing the potential of the AfCFTA. As Ghana continues to position itself as a hub for trade and investment in Africa, events like these play a crucial role in equipping businesses with the knowledge and resources needed to thrive in an increasingly integrated regional economy.

For further inquiries or information on upcoming events, interested parties are encouraged to contact UBA Ghana Ltd or the Ghana Export Promotion Authority.

Contact Information:

UBA Ghana Ltd

Website: www.ubaghana.com

Phone: +233 30 276 1660

Ghana Export Promotion Authority (GEPA)

Website: www.gepaghana.org

Phone: +233 30 266 6789

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