Compass Global, led by CEO Tokunbo Chiedu, has announced a significant initiative aimed at empowering small and medium enterprises (SMEs) to leverage the African Continental Free Trade Area (AfCFTA).
This announcement was made on December 31, 2024, during the conclusion of their West Africa Meets East Africa Trade Mission.
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Empowering SMEs through AfCFTA
The program focuses on enhancing intra-African trade, particularly for women and youth entrepreneurs.
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Chiedu highlighted, “Our primary goal is to empower SMEs to take advantage of AfCFTA and the $22 billion intra-African trade potential”.
The initiative has already organised events in Ghana, Nigeria, Kenya, and Tanzania, benefiting over 1,000 SMEs since its inception in 2022.
Participants received training in negotiation strategies and deal-making within the AfCFTA framework. The mission also included market visits and business-to-business meetings aimed at fostering essential connections for market access.
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Expanding across Africa: Compass Global’s 2025 vision
Key partners like Afreximbank and various women’s business networks support Compass Global’s efforts. Chiedu acknowledged Afreximbank’s role in sponsoring these initiatives, stating that their support is crucial for exposing participants to regional value chain opportunities.
Compass Global plans to expand into Central, North, and South Africa in 2025 to support SMEs and foster an inclusive economic environment for women and youth entrepreneurs.