The partnership builds on Ecobank’s recently announced US$3 billion trade finance commitment to deepen Africa’s industrialisation and economic integration

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. This agreement will unlock new opportunities for African businesses, with a particular focus on Small and Medium-sized Enterprises (SMEs), women-led businesses, and youth entrepreneurs.

This MoU establishes a strategic framework to leverage the AfCFTA, a cornerstone of the African Union’s Agenda 2063 (“The Africa We Want”), in order to build a truly integrated single market of 1.3 billion people and a combined annual GDP of US$3.4 trillion.

Building on a US$3 Billion Trade Finance Commitment

The MoU comes on the heels of 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 boost trade with and across Africa.

The partnership with the AfCFTA Secretariat will serve as a critical channel through which the impact of this US$3 billion commitment is amplified across the continent, ensuring that African businesses — from large corporates to SMEs — are equipped to seize the opportunities of the Single Market.

“Through this partnership with Ecobank, we are bringing the financial muscle and pan-African reach needed to translate the promise of the Single Market into tangible opportunities for our entrepreneurs, our women in business, and our small and medium-sized enterprises,” said H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat.

“For 40 years, Ecobank has been built on a singular vision: to advance the economic development and financial integration of Africa,” said Mr. Michael Larbie, Group Executive, Corporate and Investment Banking at Ecobank. “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.”

Key Areas of Cooperation

The partnership will focus on several priority areas, including:

SME Capacity Building

Equipping African businesses with the knowledge, tools, and networks to seize opportunities created by the AfCFTA.

Closing the Trade Finance Gap

Joint promotion of Ecobank’s Ellevate Program, a specialised initiative designed to support women entrepreneurs and women-led, women-owned, and women-focused businesses across both the formal and informal sectors, with tailored financial and non-financial solutions, including capacity building.

Single Market Trade Hub

Positioning Ecobank’s trade platform as a key tool to reduce information asymmetry between traders across the continent and foster strategic partnerships with similar platforms globally.

Business Referrals and Information Sharing

Leveraging the AfCFTA Trading Companies database and Ecobank’s continental network to connect buyers, sellers, and trade associations.

Policy Advocacy

Joint engagement with regulators and stakeholders to eliminate non-tariff barriers and frictions in cross-border payments.

Thought Leadership and Events

Co-curation of high-level panels, seminars, and business forums to advance dialogue on the AfCFTA Protocols.

A Defining Moment for African Integration

The MoU comes at a key moment for the continent, as the AfCFTA continues to gain momentum in eliminating barriers to intra-African trade, boosting productivity, and creating an enabling environment for sustainable, inclusive growth. By combining the AfCFTA Secretariat’s mandate with Ecobank’s continental banking footprint and its US$3 billion trade finance commitment, the partnership is expected to significantly accelerate progress toward Africa’s economic integration goals.

Media Contacts

AfCFTA Secretariat
Ms. Cynthia Essognim Gnassingbe-Essonam
Director, Private Sector Engagement & Communications
African Continental Free Trade Area (AfCFTA) Secretariat
Email: [email protected]

Ms. Yafika Chitanda
Communications Officer
African Continental Free Trade Area (AfCFTA) Secretariat
Email: [email protected]

Ecobank Group
Christiane Bossom
Group Corporate Communications
Ecobank Transnational Incorporated
Email: [email protected]

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