West Africa looks at competition reforms to boost small business
Business support organizations provided input for proposals on how to tap into opportunities presented by regional and continental trade blocs.
The proposals are in a position paper that lays down reforms to competition laws to boost small businesses within the Economic Community of West African States (ECOWAS).
The proposals notably call for easing regulatory requirements at ECOWAS and national levels to enhance small businesses access and competitiveness in public procurement contracts, and for accessible legal remedies.
With those reforms, micro, small and medium-sized enterprises (MSMEs) see a better chance to compete and to grow.
The details were fleshed out in a series of earlier meetings and outlined in a position paper, ‘Policy and legal options to promote MSMEs under the ECOWAS and AfCFTA Competition Frameworks.’
The latest workshop in the Nigerian capital Abuja gathered ECOWAS institutions responsible for competition policy and regulation, so they could evaluate the proposals and look at how they could be adopted.
The event ran 27 to 29 May, in a significant step within both ECOWAS and the African Continental Free Trade Area (AfCFTA). The International Trade Centre (ITC) organized the event in collaboration with the ECOWAS Commission.
'The workshop was a significant milestone in promoting and supporting MSMEs under the ECOWAS and AfCFTA Competition Framework,’ said Emmanuel Essien, Director-General of The Badagry Chamber of Commerce, Industry, Mines, and Agriculture of Lagos.
‘ITC’s efforts were instrumental in ensuring the success of the event,’ he added.
By fostering this dialogue, the workshop ensured that private sector’s views will be integrated into ECOWAS competition policies and regulations.
The workshop gathered 19 representatives, 26% of whom were women, from the European Union and West African business associations. These included the Federation of West African Employers Association (FWAEA), Federation of West African Chambers of Commerce and Industry (FEWACCI), Federation of West Africa Manufacturers Associations (FEWAMA), and the Federation of Businesswomen and Entrepreneurs (FEBWE). Additionally, technical, policymaking, and enforcement bodies from the ECOWAS Commission were also in attendance.
The workshop was designed to encourage dialogue and cooperation, through presentations, focused discussions, and interactive sessions.
The workshop is part of the ITC West Africa Competitiveness (WACOMP) programme, which supports key value chains at both national and regional levels, promoting structural transformation and improve market access.
About the West Africa Competitiveness Programme (WACOMP)
WACOMP is financed by the European Union under the 11th European Development Fund. The programme aims to strengthen the competitiveness of West African countries and enhance their integration into the regional and international trading system. ITC works in cooperation with UNIDO and under the overall guidance of the ECOWAS Commission. The overall objective of the programme is 'to strengthen the competitiveness of West Africa through an enhanced level of production, transformation and export capacities of the private sector in line with regional and national industrial and MSME strategies'. The project is implemented by the International Trade Centre.
