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Desire Nduwarugira, project manager at Renew Capital, reflects on the recently celebrated Africa Day and shares more about what it means for Africa to be united, as well as how initiatives like the Accelerating Regional Business Growth (ARBG) can support African SMEs in trade and help Africa's businesses thrive.
Commemorating Africa Day while working at an Africa-focused Investment firm!
On May 25 each year, Africans at home and abroad commemorate Africa Day, symbolizing our shared history and aspirations. At Renew Capital, this day provides an opportunity to reflect on our vision.
I believe that Pan-Africanism offers Africa a path toward unity, progress, and economic development. By striving for sustainable socio-economic and political integration, we can achieve full independence and control of our resources as a collective and diverse entity.
Desire Nduwarugira pictured far right
Pan-Africanism driving business growth: The AfCFTA
At Renew Capital, I am part of a multi-year private-sector development program funded by Global Affairs Canada (GAC) – the Accelerating Regional Business Growth (ARBG) Program – which aims to improve the small and medium enterprise (SME) investment ecosystem across East Africa.
East Africa is well-positioned to experience significant private sector growth in the coming decade fueled by African Continental Free Trade Area (AfCFTA) which promises increased regional integration, policy reform, trade and investment.
With 55 member countries, the AfCFTA is the largest free trade area in the world. Its goal is to create a single continental market, connecting 1.3 billion people with a combined GDP of $3.4T USD. It has the potential to lift 30 million people out of extreme poverty. However, realizing its full potential depends on implementing substantial policy reforms and trade facilitation measures.
Under ARBG, the Trade Facilitation Program is designed for ambitious companies in East Africa interested in starting or expanding their cross-border trade activities through the AfCFTA. The program includes a two-part virtual training session on June 5 and 6, covering:
1) Trade liberalization in Africa, explaining the current status of the AfCFTA and its benefits for SMEs.
2) Operationalizing trade-related goals by creating a market entry strategy, export marketing plan, and import diversification strategy.
Before joining Renew Capital, I successfully managed several projects at One Acre Fund, an international organization serving smallholder farmers in Africa. I graduated from Lake Tanganyika University's School of Law in Bujumbura, Burundi, and have been working in Rwanda since 2015. From serving smallholder farmers to fighting against hunger to working with entrepreneurs to accelerate business growth, my mission is to improve the lives of my fellow Africans.
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact. For the latest on investing in Africa, subscribe and follow us at our social links below.
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