TradeMark East Africa, has rebranded to TradeMark Africa (TMA) and simultaneously officially launched its West Africa operations.
TradeMark Africa now has a presence in fourteen countries in sub-Saharan Africa (SSA): Kenya, Uganda, Tanzania, Rwanda, Burundi, the Democratic Republic of Congo (DRC), South Sudan, Ethiopia, Somaliland, Djibouti, Malawi, Zambia, Mozambique, and now Ghana.
The organization has to date made cumulative investments of over $1.3 billion in East Africa and the Horn, to reduce the time and costs of trading across borders, and to improve the export competitiveness of African businesses. These have among other results slashed the time for traders to cross borders – by 70% on average; and for businesses to receive certification – often from many days to a number of hours. Its programs have contributed to a 16.5% reduction in the total time it takes to transport a container on the Northern Corridor from Kenya’s Mombasa Port to Bujumbura, Burundi.
As a leading Aid-for-Trade (AfT) Programme, a continental approach gives TMA an important opportunity to expand its impactful programming progressively.
As part of the pivot to West Africa, TradeMark Africa will support the Secretariat of the African Continental Free Trade Area (AfCFTA), based in Accra, Ghana, to realize its vision of integrating the $3.4 trillion African market.
TradeMark Africa will also work with regional economic communities (RECs) such as the Economic Community of West African States (ECOWAS), to boost regional economic integration and accelerate trade. Further, it will work with Member States to ensure Governments and businesses benefit practically from the opportunities presented by these shifts – in particular along the Lagos-Abidjan corridor. The successful implementation of the AfCFTA is predicted to boost incomes in Africa by $450 billion by 2030.
The company says the new strategy will build on and scale up on its core strengths, focus on facilitating the development of digital and green trade corridors, position Africa as a partner of choice for global off-takers; as well as promoting inclusive trade that drives down poverty levels and ensures that vulnerable groups are more integrated in trading systems.
TradeMark Africa’s Board Chairman, Amb. Erastus Mwencha said, “As a leading Aid-for-Trade (AfT) Programme, a continental approach gives TMA an important opportunity to expand its impactful programming progressively, while supporting the aspirations of AfCFTA to unleash the immense impact that free trade in high value products, exists in Africa. Our key aim remains trade facilitation, just like we have always done in the last 12 years in the East and Horn of Africa region, where we were founded and have had great milestones in our programmes.”