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Dear Reader

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The birth of the AeTrade Group initiative started in 2008. Since then, we have laid a solid foundation for the organization which is entering a new phase. We are pleased to have reached this milestone, but for us the work is just beginning. The AeTrade Group is bringing a multifaceted initiative from the African Diaspora with its continental headquarters in Rwanda with five regional headquarters. We are spearheading a large-scale continental initiative that aims to position Africa as a meaningful shareholder of the fast-emerging digital economy. We cannot do this alone. We need to work together at least 6 days a week, full days to achieve the goals that we have set for ourselves. It cannot be business as usual to build our economy. It is imperative that we take seriously the importance of being a shareholder in the global digital economy.

 

It is therefore crucial to have a deliberate approach to ensure that a multi-stakeholder approach is  adopted by all. What is important is to allow the private sector to lead in generating ideas and solutions which are pragmatic, and display out of the box thinking. For example, given the unprecedented challenge for each country to create job opportunities, let us consider more of an opportunity. The way I see it, Africa can be the human resource center for the regional and global value chain products and services. What we need to have is an early investment for our young people to transition towards a knowledge based society where innovation and creativity are rewarded. In today’s industry, the regional value chains in the African Continental Free Trade Area  present a co-creation opportunity for youth, women, MSMEs,  Governments, private sector, academia, development finance institutions and more. We need a framework that addresses the national, regional and continental levels with efficient coordination of this vast network of networks.

 

In order to see SMEs participating in regional value chains as actors and beneficiaries, we must address the chronic challenges which SMEs have been facing in the last 50 years – Know How, Access to Affordable Finance as well as Hard and Soft Infrastructure. We are talking about MSMEs in the formal and informal sector. This is why we have launched a Smart Finance and Digital Banking initiative on the 5th February 2022 in Addis Ababa, on the margins of the African Union Summit. We are working in an inclusive manner with all the African governments and key stakeholders such as private sector associations, development finance institutions, international development agencies, and civil society organizations.  We welcome partnerships from within the continent and beyond.

 

We are serious about advancing on several fronts, including the establishment of research and innovation centers – where we shall conduct research for SMEs and not about SMEs. This is a big difference. How many women were surveyed and they were given the report to use for their own business strategy?

 

In a nutshell,

• SMEs need visibility

• SMEs need commercial intelligence

• SMEs need an enabling environment

• SMEs need access to relevant know-how

• SMEs need to be able to pay for services in the easiest way that is also affordable to them.

 

The Demographic reality is that Africa is a youthful continent with high levels of unemployment, economic exclusion, and gender inequality. By 2030, the number of young people in the African labor force will increase to 375 million. According to the International Monetary Fund, population growth on the continent means that by 2035, there will be more young Africans entering the workforce each year than in the rest of the world combined.

 

Working together with focus and determination to harness the abundant creativity and innovation, we can address these challenges and create 80-125 million jobs in the next fifteen years in turn bringing prosperity and sustainable growth to the African continent.

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I invite you to join us on this exciting journey.

Mulualem Syoum