ZAMBIA’S Ambassador to Ethiopia, His Excellency Emmanuel Mwamba has said low intra-trade among African countries is a source of concern.
Speaking when he officiated at the opening of a coffee processing plant in Addis Ababa, Mr. Mwamba said the low intratrade was partly due to lack of industrialization and product value addition capacity in many economies in Africa.
He said Africa continued to export raw products with little or no value-addition while it imported processed and finished goods.
He said Africa trades more with the developed world to the tune of 86%.
He said the coming into effect of the Africa Continental Free Trade Area (AfCTA) will accelerate the industrial and export capacity of countries as an immediate substitute to this trade imbalance.
He commended Melange Coffee Roasters for setting up a processing plant in Addis Ababa.
He said this will benefit local farmers in Ethiopia.
He said the farming sector was the largest employer in Africa and would help resolve the current youth unemployment crisis the Continent was facing if agro-processing and value addition investments were vigorously promoted and established.
He took the opportunity to invite the company to Zambia to set up a coffee processing plant in Zambia.
Melange Roasted coffee is one of the largest coffee and coffee powder distribution company through multiple local and international distribution channel.
This is according to a press statement issued by Mr. Joseph Chinyemba, First Secretary (Economy & Trade) at the Zambia Embassy in Addis Ababa, Ethiopia.