AfCFTA presents unique collaboration opportunities

Bank Windhoek’s Executive Officer of Retail Banking Services and Specialist Finance, James Chapman, said that the Africa Continental Free Trade Area (AfCFTA) presents a unique opportunity for African nations to trade and collaborate in unprecedented ways. “Bank Windhoek is firmly dedicated to supporting this initiative by creating platforms such as the Agri series to empower agricultural participants through knowledge sharing,” he said.

Chapman was speaking at the annual Bank Windhoek Agricultural Series, an informative live talk celebration of innovation, collaboration and the boundless potential of agriculture, which took place in Windhoek on Thursday, 19 October 2023. Chapman said that this year's theme, the AfCFTA, was timely as the African continent and Namibia navigate the challenges and opportunities in the journey towards a sustainable future. “We understand the pivotal role that agriculture plays in our society. It feeds nations, fuels economic growth, generates employment, and sustains livelihoods. Our dedication to supporting farmers, agribusinesses, and agricultural initiatives remains unwavering,” said Chapman, adding that the Bank Windhoek Agricultural Series is a testament to that commitment, providing a platform where ideas are exchanged, partnerships forged, and innovations shine.

Opportunities

The Bank Windhoek Agricultural Series live talk brought together experts, thought leaders and industry professionals to explore AfCFTA’s significance, challenges and opportunities. Topics discussed by industry professionals included vital milestones, Namibia's implementation of the AfCFTA Agreement, and how all Namibian stakeholders can work together to make the Agreement even lucrative for the agricultural sector. Agro processing as an enabler for continental value chains and how it impacts Namibia’s AfCFTA implementation efforts was one of the discussion points.

The Deputy Minister of Industrialisation and Trade, Verna Sinimbo, spoke at the event on behalf of the Minister, Lucia Iipumbu. Sinimbo said that Namibia’s private sector, including financial institutions such as Bank Windhoek, plays a crucial role in realising the potential of AfCFTA. “We expect businesses to explore new market opportunities and invest in the production of goods and services that can be completely traded within the AfCFTA framework,” she said, encouraging all stakeholders to support the government in improving Namibian livelihoods.

Chapman added that through platforms like the Bank Windhoek Agri Series, stakeholders can collectively enhance productivity, improve efficiency, and ensure the prosperity of farmers and communities in Namibia and across the continent.