From the discussion, I would advise Theoneste to open its branches in Accra since it has AfCFTA Secretariat commissioned, which is believed to be a free-market zone that will enable the company to acquire more market. Trading under the AfCFTA was supposed to start on July 1, 2020, but was postponed because of the COVID-19 pandemic and started in January 2021, according to the African Union. Additionally, the organization was created to make sure that it helps more businesses market themselves and offers various platforms whereby traders can acquire the required services while carrying out their business (Signé & Van der Ven 2019). I would advise Theoneste to consider establishing more branches in Accra since I am sure the business will be protected and have a significant market area. Also, Africa countries have been encouraged to consolidate and pursue “our continental market integration objectives through the AfCFTA” in response to current multilateral trading system difficulties. The organization will help the business market its product at an accessible cost since the brand will also be advertised outside Africa to be able to reach cover more markets.
The AfCFTA’s primary goal is to eradicate or reduce tariff and non-tariff problems among the 54 African nations who have dedicated themselves to joining the bloc by starting a single market for products and services, helped by the free movement of individuals to promote economic incorporation and wealth. In Ghana, they are some of the different types of businesses primarily dependent on ECOWAS to make sure every business is coordinated and protected against external tariffs. Examples of business organizations in Ghana are sole proprepriatership, a company limited by guarantee, and a company limited by shares (Hartmann, 2017). The Economic Community of West African States (ECOWAS) inspired financial companies among member states to progress living situations and promote economic growth. ECOWAS has also established a regional peacekeeping force to address some security concerns.
Signé, L., & Van der Ven, C. (2019). Keys to success for the AfCFTA negotiations.
Hartmann, C. (2017). ECOWAS and the Restoration of Democracy in The Gambia. Africa Spectrum, 52(1), 85-99.
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