Small firms say AfCFTA tariff liberalisation may push them out of business
Nairobi, March 28 -- The African Continental Free Trade Area (AfCFTA) is expected to significantly boost intra-Africa trade when fully implemented, but small businesses in East Africa are not happy about it, as it may not bode well for them.
A survey by the East African Business Council (EABC), a lobby for private-sector players in the East African Community (EAC), shows that small businesses in the region are worried that a full take-off of AfCFTA could edge them out of business, unless they change tack.
Battered by a raft of challenges at home and dissatisfied with the progress in the elimination of intra-EAC trade barriers, the small businesses worry they may not withstand the competition from AfCFTA, which could force many of them t...
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