Huge market opportunity available through AfCFTA: Iipumbu

Minister of Industrialisation and Trade, Lucia Iipumbu on Friday stated that there is a huge market opportunity opening up through the African Continental Free Trade Area (AfCFTA) and the nation needs to prepare itself to be ready for trading.

The minister made these remarks during the occasion of the official opening of the 16th edition of the Helao Nafidi business expo which was celebrated under the theme ‘Innovative to unveil hidden treasure’.

In a statement issued by MIT on Friday, Iipumbu noted that Angola must also be seen as one of the country’s key trading partners, not only at the level of informal trading but also through tangible value chain development in manufacturing and sourcing of inputs in manufacturing.

In August this year, the minister attended the Eenhana expo and was impressed by the level of value-addition initiatives being undertaken to add value to local agriculture.

These include mostly raw materials such as marula, kalahari melons, and eembe which are value added to produce jams, juices and other complementary products, she noted.

“The Helao Nafidi business expo is a clear demonstration of the zeal of entrepreneurship and the creative minds of our communities. This is a platform where local businesses, of all sizes, come together to showcase their innovations in the form of products and services,” she said.

Furthermore, the ministry is aware of various challenges facing traders in this town such as the lack of sufficient trading platforms and open markets which forces most traders to sell along the streets in contravention of the town’s rules, Iipumbu noted.

“MIT is therefore committed and considering the requests advanced by the town council to assist with the construction of open markets when financial resources allow,” the minister said.

Source: The Namibian Press Agency