Many African SMEs lack funds for cross-border trade – AfCFTA Advisor

Cynthia E. Gnassingbé-Essonam is a Senior Advisor to the Secretary-General of AfCFTA. She spoke about financial challenges for small and medium-sized enterprises (SMEs) in Africa.

During a webinar on April 25, 2025, she discussed how AfCFTA offers many opportunities. However, many SMEs struggle due to lack of financial and logistical support.

Gnassingbé-Essonam noted that transport and logistics are major challenges. Many businesses lack the funds to ship their products effectively.

To help SMEs, AfCFTA is promoting trading companies. These companies will provide essential support like warehousing and financial backing.

So far, nine trading companies have been established in several countries. These include Ghana, Rwanda, Egypt, Chad, South Africa, The Gambia, and Kenya.

Gnassingbé-Essonam reported positive results from these trading companies. They are helping connect various markets and increasing trade among informal traders.

She emphasized the need to ease visa restrictions to further boost intra-Africa trade.