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The African Export-Import Bank (Afreximbank) and the International Trade Centre (ITC) have renewed and expanded their memorandum of understanding (MoU), signaling a stronger push to enhance intra-African trade, support small and medium-sized enterprises (SMEs), and boost South-South economic cooperation.
The MoU was signed on the sidelines of the Intra-African Trade Fair 2025 (IATF2025) by Prof. Benedict Oramah, President and Chairman of Afreximbank, and Pamela Coke-Hamilton, Executive Director of ITC.
The renewed partnership focuses on several key areas, including promoting SME competitiveness, building capacity around the African Continental Free Trade Area (AfCFTA), fostering sustainable livelihoods through creative industries, strengthening Africa’s trade links with the Caribbean and Arab regions, and increasing access to finance for small businesses.
Read more: Afreximbank, automotive manufacturers renew deal to drive Africa’s industrialization
Oramah said the agreement would expand Africa’s creative industries, deepen South-South trade ties, and reinforce AfCFTA’s impact on the private sector.
“The signing of the renewed MoU on the sidelines of IATF2025 is a strong demonstration of Afreximbank’s leadership in driving intra-African trade and SME empowerment,” he said.
Oramah said: “By choosing IATF2025 as the platform for this announcement, Afreximbank and ITC are underlining the role of the IATF as a hub for unlocking the potential of SMEs to drive Africa’s trade-led development.”
He added that the collaboration positioned Afreximbank and ITC as champions of Africa’s SMEs and creative entrepreneurs, providing them with greater market access and global visibility.
“We are scaling up our collaboration to empower SMEs and creative industries, foster Africa-Caribbean linkages, and advance AfCFTA implementation,” Oramah said.
Coke-Hamilton highlighted that the partnership would continue to simplify trade and reduce costs for African businesses, including those led by women and youth.
“Our expanded partnership with Afreximbank will make trade easier, more accessible and less costly across the continent,” she said.
Coke said: “This will benefit all African businesses, from the smallest enterprises to the largest corporations.”
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