The establishment of the Africa Continental Free Trade Area (AfCFTA) was to foster deeper economic integration for African businesses by aiming at one market for goods and services across Africa. However, the rate of policy adoption is falling short with individual member states and varies bloc by bloc. Regional Economic Communities (REC) (EAC, COMESA, ECCAS, etc) are primarily put in place to make sure that regional economic integration is effectively realised in a wider business spectrum through a mirror of the African Economic Community (AEC). AfCFTA is doubtlessly promoting regional trade and investment that contributes to various Sustainable Development Goals (SDGs) , including poverty reduction, economic growth, and industrial development. African MSMEs however, face numerous challenges in implementing AfCFTA goals and profiting from its agreement. The issues that impede trade and business at large across borders are; inconsistency in legal and regulatory frameworks, variations in product standards, lack of Local Content Requirements (LCR), Political instabilities and conflict, non-tariff barrier dilemma and many more. Rwanda’s role in advancing AFCFTA goals On the flip side, Rwanda’s business ecosystem is flourishing and thriving. Rwanda ranks highest in Africa for business climate, topping regulatory, public services, and efficiency measures in the World Bank's B-READY 2024 report. The first step to adopt AfCFTA signing was hosted in Rwanda. This was an advantage for the national business services to scan and leverage their landscape across all sectors. It has promoted policies that stimulate innovations through rapid advancements in technology, such as AI, Internet of Things (IoT), and Information security than any other country in the EAC bloc and the continent at large. And this is due to its unique National commitments in order to embrace AfCFTA Goals : Good economic governance Rwanda is doing better in ensuring transparency, accountability, and the effective economic decision-making as well as fostering participation of stakeholders. Allowing voices from both public and private sectors to be heard, this practice addresses issues of corruption and inequality. National Political Stability and Security: These are very crucial factors in promoting the business ecosystem at national level and worldwide. A stable political environment that has a clear rule of law, and strong security measures gives investors’ confidence and encourages economic growth. On the other hand, the situation of political unrest where there is no predictability in the political landscape brings up corruption and deter investments, corruption, and negatively disrupt economic development. Legal and regulatory frameworks Rwanda is putting in place distinct, open and fair trade and investment policies to facilitate regional and international businesses in bid to create opportunities for domestic Micro, Small and Medium Enterprise. Through its strong institutions like RDB, Ministries of trade and Finance, among others have so far established the Local Content Requirements (LCR) Unit. Normally the Local Content requirements are set by the responsible governments to protect local investors like how Rwanda did to draft a local content policy on “made in Rwanda”. And which is soon to be transferred and spread in all business sectors to increase domestic production, boost local value addition, create jobs, promote Rwanda products, and finally improve the trade balance. In the same line, Rwanda has got effective law enforcement measures that enable the rule of law and deterrence of criminal activities like, money transaction laundering, theft, vandalism and others wrong doings that can impact a business bottom line in the country. AfCFTA fosters Research and Development Centers to support its implementation and big African development goals. These centers focus on industrialization, trade policy, skills development in line with AfCFTA main objectives of intra-African trade and Economic integration. It’s this call that Rwanda has a national research center- The National Industrial Research and Development Agency (NIRDA) where academia, students, lecturers, researchers extend business development services in areas of in building materials, agriculture, packaging, textiles, leather products, chemicals and fertilizers, food systems to existing entrepreneurs in the country. Infrastructure development Rwanda has made significant steps in road networks mostly in Kigali City and other secondary cities and is known to be the great self-drive trips on the continent. Rwandais now infrastructure projects are manned by Quasi-Corporations starting with design, implementation and Maintenance like, RTDA, WASAC, REG. Government entities like City of Kigali (CoK) , RTDA largely contract the two local giant companies in engineering and civil works - NPD and REAL Contractors Ltd which do excel in road construction, walkways and drainages, street lighting technology, real estates, sports & stadium, wetland projects, Bridges among other works. This has addressed infrastructure deficits that is the biggest challenge of AfCFTA agreement implementation, and it is repositioning the Landlocked Rwanda economy as “Land-linked” trade hubs. Above all, Rwanda is attracting Global Business Services and has created different economic hubs like ; the Kigali International Financial Centre (KIFC), to transform the national and regional investments. Kigali Special Economic Zone (KSEZ) is a pace of a range of industries, manufacturing, pharmaceutical companies. Warehousing, and other business development hubs. The writer is a seasoned Researcher in Human Security and Business Dynamics
