By Hanna Claire Natukunda
In today’s globalized world, it is crucial for African nations to embrace diversification in trade by moving beyond a heavy reliance on primary products. Recognizing this need, the AfCFTA Young Entrepreneurs Federation (AfYEF) has taken the initiative to empower the youth of Africa in entrepreneurship and youth enterprising for financial freedom. Through their ambitious project called TRADE QUEEN AFRICA (TRAQ), AfYEF aims to foster trade and investment while harnessing African beauty for women’s empowerment. This explores the goals, significance, and potential impact of this innovative initiative.
Africa’s current regional economic arrangements display limited trade patterns, heavily dependent on primary products and characterized by low levels of intra-continental trade. Intra-African trade is largely dominated by a few countries, producing only a handful of products. To address these challenges, AfYEF has set out to integrate all fifty-four African countries into the TRAQ project. This platform aims to create awareness, empower African youth, and expose them to the multitude of trade opportunities present within the African Trade Area.
Whereas the Concept of Trade Queen Africa (TRAQ):
TRAQ represents a significant step towards advancing intra-African trade. It is a platform that recognizes and leverages the talents, ideas, and proactive leadership of African women in a organized event/pageant. By embracing diversity and creativity, TRAQ unveils the trade opportunities within the African Continent, promoting sustainable trade development and unity in thriving communities. The competition encompasses all African nations and individuals of African descent in the Diaspora, making it truly inclusive and representative of the African identity.
The African Union’s long-term development vision, “The Africa We Want,” aims to create a unified, prosperous, and peaceful Africa. The launch of the Africa Continental Free Trade Area (AfCFTA) in 2018 aligns with this vision. AfCFTA strives to establish a single market for goods and services, facilitating the movement of capital and natural persons. TRAQ serves as a catalyst for this vision, by creating a platform that celebrates African beauty, entrepreneurship, and trade.
With the collaboration of various dependable organizations, including MANSA, TRAQ is poised to create significant value for economic growth in all fifty-four African countries. MANSA, a Pan-African customer due diligence repository, was developed to address perceived risks of doing business in and with Africa. By providing a stage for African brands to be part of the vibrant and wide-reaching intra-continental trade, TRAQ presents an attractive opportunity for sponsors seeking to engage with large and passionate patrons.
To embark on the events of the TRAQ project, funding is required. The estimated financial cost amounts to six hundred and ninety-three thousand US dollars (693,000.00 USD). This funding will be sourced from donor organizations, government institutions, business entities, industry stakeholders, media organizations, and private individuals. With contributions from these entities, the financial constraints of the project can be overcome, facilitating its successful execution.
The Trade Queen Africa initiative, spearheaded by AfYEF, holds immense potential in advancing intra-African trade and empowering African youth. By embracing creativity, entrepreneurship, and trade, TRAQ aims to foster economic growth, promote women’s empowerment, and ultimately contribute to the realization of “The Africa We Want.” With widespread support and participation, TRAQ has the power to transform the trade landscape of Africa and pave the way for a unified and prosperous continent.
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