Maseru — The Ministry of Trade, Industry, and Business Development hosted a workshop in Maseru on Monday focusing on market intelligence related to the African Continental Free Trade Area (AfCFTA).
While opening the workshop on behalf of the principal secretary, Senior Trade Promotion Officer Ms. Nthabeleng Maphike stated that the workshop emphasizes market intelligence and explores a subject vital for the growth and sustainability of businesses in an increasingly competitive and dynamic market.
She added that the main goal of the workshop is to enhance understanding of market trends, consumer behaviour, competitors’ strategies, and merger opportunities.
Meanwhile, Mr. Victor Khalala, the instructor, gave a presentation on why the African Continental Free Trade Area (AfCFTA) is important for businesses.
He explained that it reduces tariffs on 90% of goods, simplifies customs procedures, harmonizes regulations, provides easier market access across 54 African countries, and offers special support for MSMEs.
Mr. Khalala also noted that AfCFTA currently covers goods, with services phased in later, and investments and intellectual property planned for future phases. . .
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