AfCFTA Secretariat Partners with U.S. National Bar Association to Boost Legal Support for African SMEs, Youth
The AfCFTA Secretariat has entered into a strategic partnership with the National Bar Association (USA) through the signing of a Memorandum of Understanding (MoU) aimed at enhancing legal frameworks, supporting small and medium-sized enterprises (SMEs), and promoting youth and diaspora engagement across the African continent.
This collaboration is set to leverage existing tools such as the Pan-African Payment and Settlement System (PAPSS) and the Protocols on Women and Youth in Trade to streamline cross-border transactions and create a more inclusive trading environment for African businesses.
By improving legal capacity, the partnership seeks to provide clearer legal guidelines, thereby fostering a more favorable environment for economic growth and international trade.
The MoU represents a significant step towards building a self-reliant and sustainable Africa, one that supports its SMEs and integrates its youth and diaspora into the broader economy.
The collaboration is expected to help African businesses navigate complex legal landscapes while creating more opportunities for youth and diaspora communities to engage in trade and entrepreneurship.
The agreement is seen as a crucial move towards strengthening Africa’s position in the global economic system, with a particular emphasis on empowering underrepresented groups and enhancing trade connectivity.
According to Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA), the agreement is expected to bolster trade dispute settlement mechanisms, build legal capacity, and foster investment ties with U.S. stakeholders.
