Ministry of Trade Hosts Workshop on AfCFTA Market Intelligence in Maseru

On Monday, the Ministry of Trade, Industry, and Business Development hosted a workshop in Maseru focusing on market intelligence under the African Continental Free Trade Area (AfCFTA). The event aimed to equip businesses with the knowledge and tools needed to compete effectively in the evolving African market.

Senior Trade Promotion Officer Ms. Nthabeleng Maphike opened the workshop on behalf of the principal secretary. She emphasized that understanding market intelligence is crucial for business growth and sustainability in a competitive environment. The workshop aimed to enhance participants’ knowledge of market trends, consumer behaviour, competitor strategies, and potential merger opportunities.

Mr. Victor Khalala, the workshop instructor, presented on the strategic importance of AfCFTA for businesses. He explained that the agreement reduces tariffs on 90% of goods, simplifies customs procedures, harmonizes regulations, and provides easier market access across 54 African countries. He highlighted that AfCFTA offers special support for micro, small, and medium enterprises (MSMEs).

Mr. Khalala further noted that AfCFTA currently covers trade in goods, with services integration planned for later phases. Investments and intellectual property rights are also set for inclusion in future stages of the agreement, expanding opportunities for African businesses.

The workshop provided participants with practical insights on leveraging AfCFTA for business growth. It encouraged companies to understand market dynamics, identify competitive advantages, and explore cross-border opportunities to strengthen their operations in the African market.

By building capacity in market intelligence, the Ministry of Trade seeks to support businesses in navigating the AfCFTA framework, ensuring they remain competitive and can fully benefit from regional integration.