The African Export-Import Bank (Afreximbank) has announced plans to double its financing for intra African trade to US $40 billion by 2026, reinforcing its role in driving continental economic integration and supporting implementation of the African Continental Free Trade Area (AfCFTA).
Afreximbank’s Executive Vice President for Global Trade Bank, Haytham ElMaayergi, highlighted that the bank has already disbursed about $20 billion toward intra African trade and investment in recent years, and is on course to double that figure over the next two years.
The expanded financing will be delivered through a range of trade finance and facilitation instruments designed to lower barriers to cross-border commerce, support small and medium enterprises, and deepen linkages across African markets.
Afreximbank’s efforts come amid broader initiatives to close Africa’s annual trade finance gap, which remains a significant constraint for SMEs and intra regional exchanges.
Experts say increased trade financing is critical for translating AfCFTA’s potential into tangible economic growth and industrialization across the continent.
In addition to scaling up financing, Afreximbank has strengthened partnerships with regional banks, launched credit facilities, and supported infrastructure mechanisms such as the AfCFTA Adjustment Fund and the Pan-African Payment and Settlement System (PAPSS) all aimed at reducing transaction costs and boosting intra-African trade volumes.
As Africa continues to integrate economically, the bank’s pledge to expand trade finance is expected to play a key role in unlocking new markets, empowering businesses, and driving inclusive growth across the continent.
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