Digital skills usage can help Small and Medium Enterprises (SMEs) take advantage of the trade benefits of the African Continental Free Trade Area (AfCFTA).
According to the Regional Director, Microsoft 4Afrika, Amrote Abdella, The AfCFTA can play the role of unlocking innovation, growth and productivity across the continent, but significantly, for its SME segment, by translating spending power into economic development.
She said while the COVID-19 pandemic has thrown a harsh spotlight on the vulnerabilities of global supply chains, the putting in place of the AfCFTA agreement could not be more timely for Africa.
Abdella noted that:”AfCFTA is a catalyst for new ways of doing business, producing, working and trading within Africa and with the rest of the world.
“By improving their ability to quickly scale up using digital skills, SMEs have the chance to capitalise on the potential trade boom.
“This is particularly important when we consider that SMEs represent about 90 per cent of businesses and more than 50 per cent of employment worldwide. Formal SMEs contribute up to 40 per cent of national income (GDP) in emerging economies, and these numbers rise significantly if we include informal SMEs.
“Digital skills are essential for any organisation to grow, and we want to encourage technology adoption and skills development in every organisation.
“Microsoft 4Afrika’s unconventional partnerships with SMEs and Telco’s have proven successful in supporting SMEs on their path to success.”
She further said that the partnership with FirstBank, Vodacom, MTN and Liquid Telecom has facilitated extending cloud services to SMEs, supporting their growth, adding that to date, Microsoft 4Afrika has reached 1.7 million SMEs and brought 728,000 online.
“Digital platforms are effective enablers for positive change, a powerful force expediting cross-border trade is the accelerating progress of digital technology in areas spanning from trade logistics, automated processing and e-payments.
“By aggregating demand across the continent, these platforms give small and medium businesses opportunities to access new markets, and to offer goods and services previously limited by location constraints and marketing costs.”
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