Afreximbank and ITC Renew Partnership to Boost Intra-African Trade

The African Export-Import Bank (Afreximbank) and the International Trade Centre (ITC) have renewed and expanded their memorandum of understanding (MoU) to strengthen intra-African trade, support small and medium-sized enterprises (SMEs), and deepen South-South cooperation. The announcement came on the sidelines of the Intra-African Trade Fair 2025 (IATF2025) in Algiers.

Renewed Focus on SMEs and Creative Industries

Under the renewed MoU, Afreximbank and ITC will promote SME competitiveness, improve access to finance, and build capacity around the African Continental Free Trade Area (AfCFTA). Both institutions aim to empower Africa’s creative industries, enhance trade partnerships with the Caribbean and Arab regions, and support sustainable livelihoods.

Prof. Benedict Oramah, President and Chairman of Afreximbank, highlighted the importance of the renewed collaboration. “This MoU will help expand Africa’s creative industries, deepen South-South cooperation with the Caribbean, and strengthen AfCFTA’s private sector impact,” he said.

He added, “The signing on the sidelines of IATF2025 demonstrates Afreximbank’s leadership in driving intra-African trade and SME empowerment. The Intra-African Trade Fair serves as a platform for unlocking the potential of SMEs to lead Africa’s trade-driven development.”

Global Visibility and Market Access

The partnership positions Afreximbank and ITC as leaders in ensuring that African SMEs and creative entrepreneurs gain global visibility. The renewed collaboration will also scale efforts to foster Africa-Caribbean linkages and accelerate AfCFTA implementation.

Ms. Pamela Coke-Hamilton, Executive Director of ITC, emphasized the value of the partnership. “Our long-term relationship with Afreximbank is built on improving the way Africa engages globally. Through this expanded MoU, we will continue to make trade easier, more accessible, and less costly for all African businesses, including the smallest enterprises and those led by women and youth,” she said.

IATF2025: A Landmark Event for African Trade

IATF2025, held from September 4 to 10, attracted over 112,000 visitors from 132 countries and hosted 2,148 exhibitors. The event closed on a high note with US$48.3 billion in trade and investment deals signed over the seven-day continental exposition.

The fair provided an ideal platform for Afreximbank and ITC to showcase their renewed commitment to fostering trade and investment across Africa. By combining resources and expertise, the two institutions aim to increase trade flows, improve financial access for SMEs, and accelerate regional economic growth.

A Strategic Move for African Trade Development

Through this expanded MoU, Afreximbank and ITC aim to tackle barriers that small businesses face, including limited financing, lack of market visibility, and insufficient cross-border networks. Their joint efforts will support African businesses in tapping global markets while also building resilience and capacity locally.

The collaboration also reinforces the importance of trade fairs like IATF in driving African economic development. These platforms allow businesses to connect, explore new opportunities, and secure financing, while institutions like Afreximbank and ITC provide strategic guidance and support.

Looking Ahead

As Afreximbank and ITC continue to scale their partnership, SMEs, creative industries, and regional trade networks stand to benefit significantly. By leveraging this collaboration, Africa can further integrate into the global trade ecosystem, enhance regional cooperation, and unlock economic growth opportunities for businesses across the continent.

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