{"id":491021,"date":"2026-05-21T10:15:23","date_gmt":"2026-05-21T10:15:23","guid":{"rendered":"https:\/\/www.financialafrik.com\/en\/?p=491021"},"modified":"2026-05-21T10:15:23","modified_gmt":"2026-05-21T10:15:23","slug":"afcfta-secretariat-and-ecobank-group-sign-landmark-mou-to-accelerate-intra-african-trade-and-empower-smes","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2026\/05\/21\/afcfta-secretariat-and-ecobank-group-sign-landmark-mou-to-accelerate-intra-african-trade-and-empower-smes\/","title":{"rendered":"AfCFTA Secretariat and Ecobank Group Sign Landmark MoU to Accelerate Intra-African Trade and Empower SMEs"},"content":{"rendered":"
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The partnership builds on Ecobank’s recently announced US$3 billion trade finance commitment to deepen Africa’s industrialisation and economic integration<\/span><\/i><\/p>\n

The African Continental Free Trade Area (AfCFTA) Secretariat and Ecobank Group today announced the signing of a Memorandum of Understanding (MoU) aimed at deepening economic integration across the continent and closing the trade finance gap. The Agreement seeks to expand access to trade and finance opportunities for African businesses, with\u00a0 particular focus on Small and Medium-sized Enterprises (SMEs), women-led businesses, and youth entrepreneurs.<\/b><\/p>\n

This MoU establishes a strategic framework to support the\u00a0 implementation of the\u00a0 AfCFTA,\u00a0 and advance the objectives of the African Union’s Agenda 2063 , “The Africa We Want”, <\/span>\u00a0<\/span>\u00a0through the development of an\u00a0 integrated single market of\u00a0 over 1.3 billion people and a combined GDP of approximately\u00a0 $3.4 trillion.<\/span><\/p>\n

Building on a US$3 Billion Trade Finance Commitment<\/b><\/p>\n

The MoU follows Ecobank Group’s landmark announcement at the recent Africa-Forward Summit in Nairobi, where the bank unveiled a US$3 billion trade finance commitment to be deployed over the next three years in partnership with Development Finance Institutions (DFIs) to support trade with and across Africa.\u00a0<\/span><\/p>\n

The partnership with the AfCFTA Secretariat will serve as an important platform for advancing the impact of this\u00a0 this US$3 billion commitment across the continent, ensuring that African businesses \u2014 from large corporates to SMEs \u2014 are better positioned to take advantage of opportunities created under the\u00a0 AfCFTA Single Market.<\/span><\/p>\n

\u201cAccess to trade and affordable finance remains critical to unlocking the full potential of the AfCFTA. 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 value chains across the continent,\u201d said H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat.<\/span><\/p>\n

“For 40 years, Ecobank has been built on a singular vision: to advance the economic development and financial integration of Africa,” said <\/span>Mr. Michael Larbie, Group Executive, Corporate and Investment Banking at Ecobank<\/b>. “With our unmatched 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.”<\/span><\/p>\n

Key Areas of Cooperation<\/b><\/p>\n

The partnership will focus on several priority areas, including:<\/span><\/p>\n