Small and medium-sized enterprises and major exporters in East Africa are set to gain improved access to regional and continental markets following a new partnership between the African Export-Import Bank (Afreximbank) and the East African Business Council (EABC).
The two institutions have signed an Africa Trade Gateway (ATG) Agency Agreement aimed at connecting East African businesses to the East African Community (EAC) Common Market and the wider African Continental Free Trade Area (AfCFTA) market through digital trade services.
The agreement was signed at the inaugural East Africa CEO and Investment Forum in Nairobi, Kenya, strengthening the existing collaboration between the two organisations.
Under the partnership, EABC will connect businesses within its network to the Africa Trade Gateway, Afreximbank’s digital trade ecosystem.
The platform provides businesses with access to verified buyers and suppliers, information on potential trading partners, as well as trade finance and payment solutions.
The partnership is expected to help East African enterprises identify opportunities beyond their domestic and regional markets and participate more effectively in intra-African trade.
Afreximbank’s Executive Vice President, Global Trade Bank, Haytham El Maayergi, said the partnership would help address some of the challenges businesses face in identifying reliable trading partners and accessing services required for cross-border transactions.
He said the Africa Trade Gateway was designed to connect businesses with buyers, suppliers, financial institutions and other trade-supporting services.
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El Maayergi said the collaboration with EABC would enable more businesses in East Africa to access new markets and build commercial relationships through the digital platform.
The Chief Executive Officer of EABC, Ahmed Farah, said the council had been supporting East African enterprises with information on AfCFTA market opportunities, rules of origin, tariff concessions, customs procedures and export requirements.
He said the partnership would complement those efforts by providing businesses with access to business-to-business matchmaking and trade finance solutions.
The Africa Trade Gateway is Afreximbank’s flagship digital trade platform, designed to connect businesses, financial institutions and other trade partners across Africa and international markets.
The platform integrates services covering trade finance, payments, compliance, logistics and market intelligence to facilitate cross-border transactions.
Launched in June 2023, the platform currently operates in more than 45 African countries and connects 45 trade-supporting institutions, 110 commercial banks and about 25,000 verified companies.
Afreximbank said the platform has an opportunity pipeline valued at approximately $4.5 billion across sectors including commodities, minerals, oil and gas, fast-moving consumer goods and other African-made products.
The partnership with EABC is expected to further expand the network of businesses using the platform and support greater participation by East African enterprises in the AfCFTA market.
By improving access to buyers, suppliers, finance, and trade-related information, the initiative could help reduce some of the barriers limiting cross-border trade among African businesses.
