- Building on the experience of the implementation of the African Information Society Initiative and the African Innovation framework
- Define the road map for financial inclusion with private sector, to ensure that finance fulfills its purpose, that economic growth performance true the SME’s is inclusive and sustained.
- Driving the platform-Form African-By© via emerging technologies and organizational setups such as financial technology (FinTech) to reduce financial exclusion on the continent.
Establish legal regimes that address the issues raised by the electronic nature of ICTs between African Members States and Asia Country, to ensure trust in online transactions, ease the conduct of domestic and international trade online, and offer legal protection for users and providers of e-commerce and e-government services.
- Those activities related to African-By© Initiative to establish an Ad’hoc Commity for:
- Electronic Transactions and Electronic Signatures
- Data Protection and Privacy
- Consumer Protection
- Computer Crime
- Intellectual Property
- Information’s Security
Build the collaboration with African-By© initiative to Support entrepreneurship opportunities for youth and women who will help support women who are self-employed, subsistence entrepreneurs on African diaspora community to develop business in Home Country.
The specific objectives of African Union are to: Give a voice to the African peoples and the Diaspora; Facilitate the effective implementation of the policies and objectives of the African Union; Contribute to a more prosperous future for the peoples of Africa-by© promoting Cooperate with National and Regional Parliaments and similar bodies within and outside Africa as well as civil societies, community-based organizations and grassroots organizations; Invite and encourage the full participation of the African Diaspora as an important part of the African peoples in the building of the African Union in accordance with modalities approved by the Assembly.
Building a strong Incubator for SME’s products display via African-By with Singapore Government, to Asian market access on E-commerce and logistic plat-form, including the secure payment system integrated. Singapore Incubator advises on retail business culture, consumer expectations, Singapore regulations & licensing, market (retail / consumer) trends, market entry strategies, product analysis (packaging, labeling & pricing), other business services (IP, Trademark, legal, etc.).
Federal Democratic Republic of Ethiopia has engaged a strong government integration institution to work on African-By Initiative: Minister of Labour and Social Affairs to encourage concerned government and development partners and the International Federation Consular Chambers of Commerce (FICA) to play their roles in the promotion to improve the arrangement of remittance from the Diaspora through an effective, efficient and creative manner. Ethiopia’s Overseas Employment Proclamation No. 923/2016 which aims at creating favorable condition for the promotion of safe and dignified employment opportunities, and strengthening lawful employment services. Recognizing the crucial role remittances can play in poverty reduction, in increasing the amount of foreign exchange and in promoting development in general, the Ministry of Labour and Social Affairs is working with relevant stakeholders to establish a special remittance program .
International Federation of Consular Chambers for Africa (FICA) and Commercial Bank of Ethiopia (CBE) has sign a framework Agreement to set up the PREMIER gateway payment for Africa. The purpose of the Framework Agreement is to:
- Mobilize the Diaspora savings and remittances to channel them more efficiently into development and productive financing, in particular in various investments opportunities in Small and Medium project who can create the job for people and generate an income;
- Testing and scaling up SME’s microfinance products and inclusive e-commerce business model developed by financial institutions and value chains actors.
- Facilitating E-commerce platforms to promote policies conducive of better access to finance for smallholder Entrepreneurs in Ethiopia.
- providing support to improve coordination among public and private stakeholders in the implementation of common SME’s investment promotion strategies at national levels.
- Supporting countries in enhancing synergies between financial risk management instruments and social protection for SME’s business development plan.
SME’s Development strategy with Ethiopia as Pilot Country SME’s are an integral part of Pan African Chamber of Commerce (FICA) Growth Strategy, which calls for balanced, inclusive, sustainable, innovative and secure growth. In particular, the Growth Strategy underscores that the enhancement of SME’s access to education, training, technology, and finance is an essential component for ensuring the future economic prosperity of the African continent. FICA (International Federation of Consular Chambers for Africa) and FSMMIPA (Federal Small & Medium Manufacturing Industry Promotion Authority) have signed an agreement on SME’s development in Ethiopia. The two (2) Institutions would ensure SME’s participation in the workforce, in particular by promoting entrepreneurship and greater leadership for women in business and government throughout the continent. To help achieve this economic growth and business creation, the chamber has organized a summit to facilitate information exchange and to establish a set of best practices among SMEs, leaders and entrepreneurs from Africa including its diaspora. The SMS’s will share ideas, identify best practices to address obstacles to entrepreneurship, establish a comprehensive networking portal, and pledge to meet again under FICA and FSMMIPA auspices to assess progress and further this initiative.
FICA (International Federation of Consular Chambers for Africa) and EWEA (Ethiopian Women Entrepreneurs Association) have set up training seminar for 100 SME’s on:
- Short practical courses (Cash-flow Management)
- Market Export Preparation
- Regulatory issues of imports and New Exporters’ Programme
- Intellectual Property Management Training for SME’s
- Information on key growth sectors in Ethiopia
- Analyzing market trends
African-By© Initiative expecting the strong partnership with African Central Bank’s to develop a framework agreement
The objective of the Framework Agreement is to promote SME’s on doing business in each African countries and across the world by using digital platform, tapping into the diaspora remittance potential & capacity building. To this end, the parties will work on an initiative named ‘African by. The Major Component and part of this large continental goal is to achieve its objective of Creating One Economy for Africa. The ‘African by’ initiative creates a continental ecosystem and platform that mainly enables the African diaspora to invest in their country of origin; Micro and Small Enterprises (MSE’s) to access a potential market, build their capacities and support them towards growth; the use of remittance towards productive investment as opposed to merely for consumption as well as improving foreign currency inflow to the country improving availability of foreign currency via. export of products and services. The parties will have a common interest to joint force to Increase Diaspora remittance market share in Africa by: Increase SME’s market access of financial services and activities; with the focus on major agribusiness products, increase export market share of SME’s E-commerce and generate of hard currency to the National economy.