This article was produced with the support of Ecobank
The African Continental Free Trade Area Secretariat and Ecobank Group have signed a landmark Memorandum of Understanding aimed at accelerating intra-African trade, deepening economic integration and narrowing the continent’s trade finance gap.
The agreement seeks to expand access to trade and finance opportunities for African businesses, with a particular focus on small and medium-sized enterprises (SMEs), women-led businesses and young entrepreneurs.
The partnership establishes a strategic framework to support implementation of the African Continental Free Trade Area (AfCFTA) and advance the objectives of the African Union’s Agenda 2063, “The Africa We Want”. The AfCFTA is creating an integrated single market spanning more than 1.3 billion people with a combined GDP estimated at $3.4 trillion.
The agreement also builds on Ecobank’s recently announced $3bn trade finance commitment, unveiled at the Africa Forward Summit in Nairobi. The funding, to be deployed over the next three years in partnership with development finance institutions, is intended to support trade both within Africa and between Africa and global markets.
Through the new collaboration, the AfCFTA Secretariat and Ecobank intend to ensure that businesses across the continent, from large corporates to SMEs, are better positioned to take advantage of opportunities created by the AfCFTA single market.
“Access to trade and affordable finance remains critical to unlocking the full potential of the AfCFTA,” said Wamkele Mene. “Through this partnership with Ecobank, we are strengthening the support available to African businesses, particularly SMEs, women-led enterprises and young entrepreneurs, to enable greater participation in intra-African trade and regional value chains.”
Michael Larbie said the agreement reflects Ecobank’s long-standing ambition to support African integration and development.
“For 40 years, Ecobank has been built on a singular vision: advancing the economic development and financial integration of Africa,” he said. “With our presence across 34 African markets and our digital capabilities, we are uniquely positioned to serve as a catalyst for the AfCFTA. This MoU formalises our commitment to connecting African businesses to the markets, finance and knowledge they need to thrive.”
The partnership will focus on several strategic priorities, including SME capacity building, trade finance support and policy advocacy. The two organisations also plan to promote Ecobank’s Ellevate programme, which supports women entrepreneurs and women-focused businesses through tailored financial and non-financial services, including training and business development support.
Another key area of cooperation will centre on Ecobank’s Single Market Trade Hub, which aims to reduce information gaps between traders across the continent while supporting partnerships with similar platforms globally.
The agreement will also facilitate business referrals and information sharing by leveraging the AfCFTA trading companies database alongside Ecobank’s continental network to connect buyers, sellers and trade associations. In addition, the two institutions plan to work together to address non-tariff barriers and improve cross-border payment systems through joint engagement with regulators and policymakers.
The partnership comes at a critical stage in implementation of the AfCFTA, as African governments and businesses intensify efforts to strengthen regional value chains and boost intra-African commerce. By combining the AfCFTA Secretariat’s institutional mandate with Ecobank’s extensive banking footprint and trade finance resources, the collaboration is expected to accelerate progress towards Africa’s broader economic integration goals.