The masterclass, according to the resource person and CEO of Nazaru, Ms. Toyin Umesiri, is aimed at enhancing the participants’ capacities to effectively drive the AfCFTA. During the conclusion of The AfCFTA Roundtable, hosted by Nazaru LLC earlier on October 6th, Mrs. Umesiri, a Nigerian-American said that there was a skill gap among stakeholders as regards the strategic vision of the trade pact.
A lot has been said about the AfCFTA, including its benefits and technicalities but one thing I have observed is a skill gap on how to personalize the agreement. For everybody listening to me, the big question is now what does the agreement mean to you? What does that mean to your role and responsibility as a stakeholder? For several years now, we have been bringing global stakeholders together and we are finding that that is not enough. What we are seeing is that there is a skills gap of taking the strategic vision and implementing it. That skill is what we need to maximize the AfCFTA for the industrialization and development of Africa of the future,’’ Toyin Umesiri
She noted that the trade pact could end as a pipe dream without the required human capital to effectively manage investment in the initiative. Umesiri, who drives increased United States commercial interest in Africa, cited the “somewhat failed’’ African Growth and Opportunity Act (AGOA). AGOA is a preferential trade policy enacted by the United States government since 2000 to open the country’s market to eligible Sub-Saharan African countries. However, many African countries have not been able to take advantage of the opportunity due largely to their inability to navigate the non-tariff barriers, according to experts.
Umesiri said: “We all know that eliminating tariff is one step, we also have non-tariff barriers, which is where the real work lies. Coming together, partnering, improving our skills and collaborating are part of the things that will move us forward. Along that line, we at Nazaru have made a commitment over the next one year to train our policy makers and business executives in terms of trade and investment facilitation. We are now armed with information, we are armed with resources to know that the AfCFTA is a game changer for the continent of Africa. My challenge to everybody listening is what are you going to do? What role are you going to play in advancing the continent of Africa?’’
