The African Export-Import Bank (Afreximbank) and Ecobank Group have announced a strategic collaboration aimed at streamlining trade and compliance for African businesses.
By integrating Ecobank’s Single Market Trade Hub with Afreximbank’s MANSA Digital Repository Platform, the partnership seeks to enhance intra-African trade and support the African Continental Free Trade Agreement (AfCFTA).
The Africa Entity Identifier (AEI) for improved visibility and access to Afreximbank’s trade solutions. It is a key component of Afreximbank’s Africa Trade Gateway (ATG), a marketplace designed to support and promote intra-African trade.
MANSA platform users can explore trade opportunities through the Single Market Trade Hub, facilitating business growth across Africa. The Single Market Trade Hub serves as a unified platform connecting businesses across Africa, offering insights on AfCFTA and matchmaking tools for importers and exporters.
Benefits of the partnership
The collaboration will see users of Ecobank’s Single Market Trade Hub gain direct access to MANSA’s centralized KYC (Know-Your-Customer) and CDD (Customer Due Diligence) tools, ensuring smooth compliance processes.
The integration fosters interoperability, enabling businesses to leverage digital solutions for accelerated trade and secure transactions. This partnership addresses critical challenges in cross-border trade, including KYC compliance and the lack of centralized trade information. By offering shared services across 35 African countries, Afreximbank and Ecobank aim to enhance financial and economic integration, fostering growth and development across the continent.
Afreximbank is a pan-African multilateral financial institution dedicated to promoting and financing intra- and extra-African trade. While Ecobank Group: is a leading private pan-African banking group with a presence in 35 African countries, offering extensive expertise in African markets.