In a move to promote intra-African trade, the Islamic Corporation for the Development of the Private Sector (ICD) has signed a Memorandum of Understanding (MoU) with the African Electronic Trade Group to develop an electronic-platform that will promote small and medium-sized enterprises (SMEs) on the continent.
Speaking during the 33rd Ordinary Session of the African Union Head of States Summit in Addis Ababa on Monday, Mulualem Syoum, CEO of the A-eTrade Group, said the platform would help facilitate substantial economic growth and job creation for years to come.
“Our goal is to create 600 000 SMEs in four years with 22 million jobs, and five million SMEs in 15 years with 80 million jobs,” said Syoum.
Additionally, Ayman Sejiny, ICD chief executive, said the partnership would not only help generate trade through Africa, but also trade between Africa and the Middle East.
The e-platform was introduced “at just the right time” as the continent of Africa geared up for the implementation of phase two of the African Continental Free Trade Area for later this year, he said. – Bjorn Vorster