Zenith Bank and AfCFTA Secretariat Collaborate on Smart AfCFTA


AfCFTA Secretariat and Zenith Bank signed an MoU in Lagos, Nigeria. Image from X/@AfCFTA

The AfCFTA Secretariat and Zenith Bank Plc, through its subsidiary Zenpay Limited, inked a Memorandum of Understanding (MoU) on May 3rd in Lagos, Nigeria, to collaborate on Smart AfCFTA platform. The digital platform is meant to streamline trade processes by making

The MoU lays out the legally bound relationship between the entities for the development & implementation of the Smart AfCFTA platform which will offer comprehensive trade-related information, including market trends, tariffs, trade agreements, and contact details of business partners in target markets.

Mr. Ebenezer Onyeagwu, Chairman of ZenPay, stressed that the initiative is geared towards supporting the AfCFTA’s goal of creating a unified African market and fostering economic integration. He highlighted the need to increase intra-African trade, which currently accounts for only about 20% of total trade on the continent. Mr. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, emphasized the platform’s role in empowering SMEs and young entrepreneurs, thereby facilitating their inclusion in trade and boosting intra-African commerce.

In a similar development, the African Export-Import Bank (Afreximbank) recently announced the launch of the Africa Trade Gateway (ATG) in Accra. This groundbreaking digital ecosystem comprises five product suites aimed at enhancing trade and investment in Africa. These include MANSA, PAPSS, TRADAR Club, ATEX, and ATG Connect, each designed to address specific challenges and facilitate seamless trade across the continent.

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