Intra-African Trade is gaining momentum as the continent seeks to harness the potential of its SMEs, creative industries, and cross-regional partnerships. The African Export-Import Bank (Afreximbank) and the International Trade Centre (ITC) have recently renewed and expanded their memorandum of understanding (MoU), signaling a strong commitment to promote intra-African commerce, improve SME competitiveness, and strengthen South-South cooperation. These efforts reflect a broader strategy to enhance Africa’s economic integration and global market presence.
Renewed Partnership at IATF2025
The renewed MoU was officially signed during the Intra-African Trade Fair 2025 (IATF2025) by Prof. Benedict Oramah, President of Afreximbank, and Ms. Pamela Coke-Hamilton, Executive Director of ITC. The agreement emphasizes fostering SME growth, expanding access to finance, and supporting Africa’s creative industries while building stronger trade links with the Caribbean and Arab regions.
Empowering SMEs Across the Continent
One of the primary objectives of the partnership is to empower small and medium-sized enterprises (SMEs). By providing capacity-building programs, access to funding, and training on navigating the African Continental Free Trade Area (AfCFTA), both Afreximbank and ITC aim to ensure that SMEs can scale their operations and compete effectively in global markets.
Enhancing Creative Industries
The MoU also focuses on promoting Africa’s creative industries. Initiatives include providing technical support, facilitating market access, and creating networks for artists and entrepreneurs to commercialize their products. Strengthening creative industries not only contributes to economic diversification but also empowers youth and women-led enterprises.
Strengthening South-South Cooperation
Prof. Oramah highlighted the importance of deepening collaboration with Caribbean nations and other southern economies. This South-South cooperation aims to leverage shared cultural and economic ties to expand trade opportunities, stimulate investment flows, and facilitate knowledge exchange across continents, ultimately enhancing the impact of intra-African trade.
Trade-Led Development
The renewed partnership underscores a focus on trade-led development. By supporting SMEs and creative entrepreneurs, Afreximbank and ITC aim to position Africa as a competitive player in global markets. This approach contributes to job creation, industrial growth, and the overall socio-economic development of the continent.
Capacity Building for AfCFTA
Effective implementation of the African Continental Free Trade Area (AfCFTA) requires that SMEs are well-prepared. Afreximbank and ITC are committed to providing training and advisory services to help businesses understand regulatory frameworks, export requirements, and strategies for maximizing regional trade opportunities.
Impact of IATF2025 on African Trade
The Intra-African Trade Fair 2025 highlighted Africa’s growing trade potential, attracting over 112,000 visitors from 132 countries and hosting 2,148 exhibitors. Over the course of seven days, the fair facilitated Intra-African Trade and investment deals totaling US$48.3 billion, demonstrating the tangible benefits of organized trade platforms in driving continental commerce.
Showcasing African SMEs
IATF2025 served as a vital platform for SMEs to gain visibility, connect with investors, and explore cross-border trade opportunities. The event emphasized the importance of enabling small businesses to participate in larger regional markets, thereby fostering competitiveness and innovation across sectors.
Leveraging Global Trade Networks
Through such events, Africa strengthens its global trade networks. By linking local businesses to international partners, both Afreximbank and ITC aim to boost exports, attract foreign investment, and enhance the continent’s role in global value chains.
Expanding Access to Finance
Financial inclusion remains a critical factor in promoting Intra-African Trade. Afreximbank and ITC are implementing programs to increase access to credit for SMEs, ensuring that businesses have the resources to expand production, invest in technology, and meet international market standards.
Support for Women and Youth Entrepreneurs
Special focus is given to women and youth-led enterprises, recognizing their potential to drive innovation, growth, and participation in Intra-African Trade. By providing tailored financial products, advisory services, and networking opportunities, the partnership seeks to unlock untapped entrepreneurial potential across the continent and strengthen regional commerce.
Fostering Sustainable Growth
The collaboration also emphasizes sustainability. Programs supporting creative industries and trade facilitation are designed to create long-term economic benefits, improve livelihoods, and ensure that growth generated by SMEs and creative entrepreneurs is inclusive and sustainable.
Conclusion: Unlocking Africa’s Trade Potential
The renewed Afreximbank-ITC partnership illustrates a robust commitment to strengthening Intra-African Trade, enhancing SME competitiveness, and building resilient trade networks. By combining strategic capacity-building, financial support, and cross-regional cooperation, Africa’s private sector is better positioned to thrive, drive economic growth, and secure its place in global commerce.
For more insights on Africa’s trade and SME development, visit International Trade Centre.
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