Kigali, Rwanda – Young African entrepreneurs have called on member states of the African Continental Free Trade Area (AfCFTA) to harmonize their tax regimes and improve internal tax policies to facilitate cross-border trade.
The appeal was made during the YouthConnect Africa Summit in Kigali, where young traders engaged with Gonaya Monei Sethora, a trade expert at the AfCFTA Secretariat. They discussed the various tax and non-tax barriers hindering trade on the continent.
Sethora assured participants that the AfCFTA is committed to supporting member states through its adjustment fund, which aims to mitigate the impact of implementing the continental market. The $10 billion fund will address revenue losses, infrastructure deficits, and potential supply chain disruptions.
“AfCFTA is all about making trade easy,” Sethora said, addressing concerns about internal duties and export charges.
Brian Kithinji, a Kenyan participant, suggested harmonizing internal tax regimes to enhance the competitiveness of locally produced goods in international markets. Sethora explained that the adjustment fund is designed to compensate member states for revenue losses as they phase out certain taxes and customs duties.
Nathalie Siborurema from Rwanda highlighted the need for accessible information on cross-border trade. Sethora emphasized the importance of utilizing the Africa Trade Observatory for market intelligence.
Christian Leke Achaleke from Cameroon underscored the need to change perceptions about “Made in Africa” products. He questioned how to instill pride in local products from an early age.
The YouthConnect Africa Summit, concluding on November 11, brought together over 3,000 delegates to discuss innovative solutions for youth employment in Africa.
