African Export-Import Bank (Afreximbank) has announced funding and technical support to the Youth Alliance for Leadership and Development in Africa (YALDA), an international nonprofit organisation that aims to contribute to the development of Africa’s young leaders and enhance youth participation in the implementation and achievement of the African Continental Free Trade Area (AfCFTA).
The support will cover YALDA’s activities and events, which aim to provide a platform for African youth both within Africa and in the diaspora. These activities encourage them to participate in the implementation of the AfCFTA under a campaign named the ‘Umoja Africa Campaign – Youth Contributing to the Implementation of the AfCFTA’.
TheFact Nigeria reports that fifty-five (55) member states of the Africa Union (AU) established the AfCFTA to create a single continent-wide market for goods and services and to promote the movement of capital and natural persons. AfCFTA represents an important milestone in achieving an economically integrated Africa.
Meanwhile, “Umoja Africa Campaign” would use various platforms to create awareness of the concepts, benefits and opportunities that are available to youth through regional integration and intra-Africa trade. The campaign will work towards alleviating information asymmetry among Africa’s youth with respect to trade in Africa, generating conversations and discourse on youth involvement in the implementation of the AfCFTA.
Afreximbank joins the United Nations Economic Commission for Africa (ECA), the African Union – AfCFTA Secretariat, the International Trade Centre (ITC), and the United Nations Development Programme among institutions who have committed to engage Africa’s youth on the benefits of the AfCFTA.
Prof. Benedict Oramah, President of Afreximbank, said: “We are glad to be supporting YALDA to address information asymmetry around the AfCFTA. Creating awareness among the youth in Africa on the AfCFTA will encourage them to be more innovative and creative, empowering them to become leaders not only at home, but across borders. This is the Africa we want and YALDA’s initiative aims to include youth voices in achieving the goals of the AfCFTA. We hope that as the Umoja Africa Campaign gets going, we will start to see the youth taking advantage of the AfCFTA to achieve better livelihoods for themselves and their local communities.”