The Business Export Club 500 is a private sector initiative established by AfCFTA Policy Network, Africa Private Sector Summit, and partners, with a focus to leverage continental free trade and global trade. The Economic Development in Africa Report 2021 of UNCTAD identifies numerous opportunities for export growth in Africa that are expected to further increase through tariff reductions under the African Continental Free Trade Area and under current tariff conditions, untapped export potential in the region is $21.9 billion.
To deploy all inclusive support packages for Export companies across Africa
To lead the private Sector export in Africa
The Report further states that the African Continental Free Trade Area will fully liberalize within five years (the assumption is that tariffs will be equally reduced for all products, as the list of sensitive products has not yet been determined) and under such partial tariff liberalization, the export potential would increase by an additional $9.2 billion. It is within this context that the Business Export Club 500 is established with a model to support grassroots manufacturers, and service providers who will like to export and import products, and services across Africa and beyond.
To this end, Business Export Club 500 seeks to offer positive building training, technical support in the area of product identification, product registration, standardization and certification, intellectual right for their patent and their trademarks, innovation, support in the area of trade finance, trade information, and also research and development. A crucial element of the initiative is to deploy a strong team for monitoring and evaluation framework to assess the progress of work.
The Business Export Club 500 seeks to support the development of the value chain by scouting these companies across Africa to ensure that we add value to our resources and offer them intelligence and market suppliers and buyers. This is the brief of the business export club 500 and it is noteworthy that over 50 companies have signed up as members and the approach is to focus on regional institutional partnerships.
A crucial element of the initiative is to deploy a strong team for monitoring and evaluation framework to assess the progress of work.