Bulawayo, (New Ziana)-Local companies have been urged to take advantage of the emerging opportunities that regional integration under the African Continental Free Trade Area (AfCFTA) is presenting as a new frontier for economic growth.
In an interview with New Ziana on Wednesday, Confederation of Zimbabwe Industries (CZI) Matabeleland Chapter president, Stephen Ncube said industries in the city stand to benefit significantly from deeper participation in continental trade initiatives.
“It is encouraging to see platforms such as the African Trade Gateway and the African Buyers Program being introduced to facilitate trade across the continent. These initiatives help businesses verify trading partners, build trust, and expand markets within Africa,” he said.
Ncube, who represented companies that participated in the Intra-African Trade Fair (IATF) held in Algeria from 4-10 September this year, described the event as a highly productive platform where business deals worth US$48.3 billion were concluded.
“I was impressed by the level of participation and commitment among African companies. These are the kinds of engagements where real deals are made, and I am glad that Bulawayo firms are being encouraged to be part of such events,” he said.
He noted that despite its vast potential, intra-African trade remains low, accounting for only 15 percent of total trade, compared to 65 percent in Europe and 45 percent in Asia, according to a 2019 United Nations report.
“Our goal under the AfCFTA is to increase intra-African trade from about US$50 billion to US$70 billion by 2040. That target is achievable if we tackle key challenges such as infrastructure deficits and high logistics costs,” he explained.
Ncube also highlighted the prohibitive cost of transporting goods within the continent, noting that shipping a container from Durban in South Africa to Luanda in Angola costs three times more than from Durban to Rotterdam in the Netherlands, while airfreight in Africa costs between US$3 and US$7 per kilogram, far above international averages.
He urged Bulawayo industries from multinational corporations to small and medium enterprises to leverage platforms like the Afreximbank African Trade Gateway (AATG) and the Buyers Program to access verified suppliers and expand exports.
“Most of our companies are export-oriented, and it pays to trade within Africa. We must embrace the opportunities presented by the AfCFTA and work towards building a stronger regional value chain,” he said.
New Ziana
