The African Continental Free Trade Area’s (AfCFTA) digital hub has gone live, supporting the continent’s SMEs to expand their businesses and export their products.

Unveiled at the AU’s Boma 2022 conference this month, the AfCFTA hub provides each SME with a unique business ID on registration and will help them network with businesses across the continent, reports Investing.com.

The platform’s Trusted Identity profiling feature simplifies due-diligence processes and users will be able to streamline transactions by accessing, generating and submitting digital documentation to government agencies. Registered SMEs are also eligible for AfCFTA benefits such as low or zero duties. A digital token system supports cross-border payments and simplifies credit guarantees.

The release of the AfCFTA hub coincides with the unveiling of another AU flagship project – the common vaccine passport, which is embedded in the organisation’s eHealth digital backbone.

26 July 2022
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