David Beer, CEO of TradeMark Africa speaks exclusively to The New Times. The digitalisation of trade has increased efficiencies in trade processes and changed how trade is conducted on the continent. However, a number of challenges need to be addressed in order to streamline digital trade and ensure its benefits are realised and shared inclusively. The New Times’ Tesi Kaven spoke to David Beer, the CEO of TradeMark Africa on the challenges, opportunities, and the future of digital trade in Africa. Below are the excerpts: How is digitalisation changing trade in Africa? We have seen improvements in the reduction of cost and time of trading across borders after digitalising many trade processes. At TradeMark Africa, we have implemented over 100 digital trade processes in conjunction with our government and private sector partners across Eastern Africa and even further. We have seen the average time to complete trade processes come down by around two thirds or 66 hours. That makes a big difference to exporters and increases their margins and makes them more profitable. We have worked with the government of Rwanda to put in place the electronic single window, which has reduced the time taken to complete those trade processes by half. We have also worked with the government of Kenya to put in place their integrated customers management system that reduced the time to clear air freight from about four days to just a couple of hours. In Uganda, we did the same thing and saw annual costs come...
How digitalisation is transforming trade in Africa
Posted on: December 10, 2024
Posted on: December 10, 2024