Johannesburg – President Cyril Ramaphosa has called on his counterparts on the continent to ensure that there is greater share of procurement set aside for companies owned by women.
Speaking in his capacity as chairperson of the African Union (AU), Ramaphosa said improving women’s access to trade opportunities not only facilitated economic freedom for them but also expanded the productive capacity of countries.
Ramaphosa was speaking yesterday at the opening of the 13th extraordinary session of the assembly of the heads of state and government of the AU.
The meeting was also convened to consider the adoption of the legal instruments to commence the implementation of the African Continental Free Trade Area (AfCFTA) in January.
“We must ensure that there is sufficient support given to women-owned SMMEs and cooperatives in both local and regional economies. Most importantly, we should consider an AU Protocol on Women in Trade to give effect to our intentions,” he said.
Ramaphosa said throughout the process of establishing the AfCFTA, all 55 sovereign members were united despite different levels of economic development. He added that the commencement of trading under AfCFTA would be one of the most significant milestones in the continental integration project. The AfCFTA would boost intra-African trade, promote industrialisation and competitiveness and contribute to job creation, Ramaphosa said.
“The AfCFTA will also improve the prospects of Africa as an a ractive investment destination.”
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