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Al-Ahram Weekly
26-06-2025
- Business
- Al-Ahram Weekly
Afreximbank launches its African Trade Report 2025 - Economy
The African Export-Import Bank (Afreximbank) launched its flagship African Trade Report 2025, themed 'African Trade in a Changing Global Financial Architecture,' on Thursday during the Afreximbank Annual Meetings (AAM2025) in Abuja. The report examines Africa's trade performance in a challenging global environment characterized by rising geopolitical tensions, new trade barriers, and financial uncertainty. It also analyses how the continent could leverage these challenges into opportunities to enhance its resilience and navigate the evolving landscape. 'This year's report provides a compelling roadmap for Africa to reposition itself in a volatile global economy. From strengthening trade finance systems to accelerating the AfCFTA, the message is clear: Africa must turn global fragmentation into an opportunity for industrialisation, digital progress, and greater control over its financial systems,' Professor Benedict Oramah, the president and chairman of the Afreximbank Board of Directors, said. Dr. Yemi Kale, Afreximbank's group chief economist and managing director of research, noted that despite global headwinds, Africa's trade rebounded strongly in 2023. Trade between African countries grew by 12.4 percent to reach $220.3 billion, from a contraction of 5.9 percent in 2023. "This shows the tangible benefits of AfCFTA implementation, even as the continent contends with rising inflation, sovereign debt risks, and a persistent trade finance gap,' he added. The report also indicates that Africa's total merchandise trade rebounded, increasing by 13.9 percent in 2024 to $1.5 trillion, following a 5.4 percent contraction in 2023. However, Africa still makes up only 3.3 percent of global exports. This provides a clear signal that the continent must do more by moving away from commodity exports and accelerating its industrialization process if it is to enhance its integration into global value chains and boost intra-African trade. It also requires better access to trade finance to bridge the estimated $100 billion gap. While the global economy, which slowed to 3.3 percent growth in 2024, is expected to decline further in 2025, Africa's growth held steady. The continent's economy grew by 3.2 percent, supported by strong commodity prices and better public finances. Still, growth remains uneven across the continent. Moreover, Afreximbank's report emphasizes the importance of advancing the African Continental Free Trade Area (AfCFTA), which is becoming a foundation for trade resilience across the region. It also highlights the expanding use of the Pan-African Payment and Settlement System (PAPSS), which is helping to reduce reliance on foreign currencies and making cross-border trade more efficient. Furthermore, the report provides practical guidance on harmonizing trade rules and regulations across countries, unlocking investment from African institutions such as pension funds and sovereign funds, and utilizing Africa's new representation in the G20 to advocate for overdue global reforms. This includes ensuring a fairer share of global financial resources, such as Special Drawing Rights, an international reserve currency created by the IMF, and increasing access to climate finance. It also calls for adjustments in credit ratings to more accurately reflect the strength and potential of African economies. Additionally, it highlights the growing significance of the Alliance of African Multilateral Financial Institutions (AAMFI), as it increases funding for development and helps rebuild a financial ecosystem that works better for Africans. In 2024, Afreximbank alone disbursed more than $17.5 billion in trade finance. It plans to increase that amount to $40 billion by 2026. As Africa faces a rapidly changing global environment, the report offers more than just analysis. It provides a transparent and practical plan for building a stronger, fairer, and more resilient African economy, driven from within the continent. Follow us on: Facebook Instagram Whatsapp Short link:
Zawya
26-06-2025
- Business
- Zawya
Afreximbank Launches 2025 Report on African Trade in a Shifting Global Financial Landscape
African Export-Import Bank (Afreximbank) ( today launched its flagship African Trade Report 2025, themed 'African Trade in a Changing Global Financial Architecture', during the Afreximbank Annual Meetings (AAM2025) in Abuja. Download Document: The report looks at the performance of Africa's trade in a challenging global environment charaterised by rising geopolitical tensions, new trade barriers, and financial uncertainty—and analyses how the continent could leverage these challenges into opportunities to enhance its resilience and navigate the evolving landscape. Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said: 'This year's report provides a compelling roadmap for Africa to reposition itself in a volatile global economy. From strengthening trade finance systems to accelerating the AfCFTA, the message is clear: Africa must turn global fragmentation into an opportunity for industrialisation, digital progress, and greater control over its financial systems.' Dr. Yemi Kale, Afreximbank's Group Chief Economist and Managing Director of Research, added: 'Despite global headwinds, Africa's trade rebounded strongly in 2024, with trade between African countries growing by 12.4% to reach US$220.3 billion, from a contraction of 5.9% in 2023. This shows the tangible benefits of AfCFTA implementation, even as the continent contends with rising inflation, sovereign debt risks, and a persistent trade finance gap.' The report shows that Africa's total merchandise trade recovered, surging by 13.9% in 2024, to US$1.5 trillion, following a 5.4% contraction in 2023. However, Africa still makes up only 3.3% of global exports. That's a clear signal. The continent must do more by moving away from commodity exports and accelerating its industrialisation process if it is to enhance its integration into global value chains and boost intra-African trade. It also needs better access to trade finance to bridge the gap estimated at about US$100 billion. While the global economy slowed to 3.3% growth in 2024 and is expected to dip further in 2025, Africa held steady. The continent's economy grew by 3.2%, helped by strong commodity prices and better public finances. Still, growth remains uneven across the continent. Afreximbank's African Trade Report 2025 emphasises the importance of advancing the African Continental Free Trade Area (AfCFTA), which is becoming a foundation for trade resilience across the region. It also highlights the expanding use of the Pan-African Payment and Settlement System (PAPSS), which is helping to reduce reliance on foreign currencies and making cross-border trade more efficient. In addition, the report offers practical guidance on making trade rules and regulations more consistent across countries, unlocking investment from African institutions like pension funds and sovereign funds, and using Africa's new seat in the G20 to push for overdue global reforms. This includes ensuring a fairer share of global financial resources, such as Special Drawing Rights, an international reserve currency created by the IMF and increasing access to climate finance. It also calls for changes in credit ratings to better reflect the strength and potential of African economies. The report highlights the growing significance of the Alliance of African Multilateral Financial Institutions (AAMFI), as it is increasing funding for development and helping to rebuild a financial ecosystem that works better for Africans. In 2024, Afreximbank alone disbursed more than US$17.5 billion in trade finance. It plans to increase that amount to US$40 billion by 2026. As Africa faces a rapidly changing global environment, the report offers more than just analysis. It provides a clear and practical plan for building a stronger, fairer, and more resilient African economy, driven from within the continent. Distributed by APO Group on behalf of Afreximbank. Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@ Follow us on: X: Facebook: LinkedIn: Instagram: About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.
Zawya
28-04-2025
- Business
- Zawya
Afreximbank announces specialized African Continental Free Trade Area (AfCFTA) training to empower African businesses
To enable African businesses to fully capitalise on the opportunities presented by the African Continental Free Trade Area (AfCFTA), African Export-Import Bank (Afreximbank) ( has announced a specialized training program designed to equip enterprises with a deep understanding of the agreement's commercial implications and transformative potential. Scheduled to take place in Abuja, Nigeria, from June 30 to July 2, 2025, the training program is designed to provide businesses with practical policy-relevant insights into the AfCFTA's evolving regulatory and institutional landscape. It will help participants interpret key treaty instruments, ensuring compliance with new trade rules while enhancing their knowledge of regional integration and operational mechanisms. Additionally, the program will serve as a crucial platform for guiding both prospective and existing exporters on new trade developments, equipping them with the tools to navigate tariff and non-tariff barriers across the continent. Conceived and implemented by Afreximbank in collaboration with the American University in Cairo (AUC) and the AfCFTA Secretariat, the training is expected to attract a diverse range of participants, including African corporates engaged in import and export activities, Trade Support Institutions such as Trade Promotion Organizations and Chambers of Commerce, Investment Promotion Agencies, Export Trading Companies, Financial Institutions, and the broader foreign trade community. Participants will also benefit from tailored presentations on key Afreximbank products and initiatives that support the AfCFTA's implementation, including the Pan-African Payment and Settlement System (PAPSS), Africa Trade Gateway (ATG), and various trade finance solutions. Addressing critical knowledge gaps to unlock AfCFTA's potential Reflecting on the significance of the program, Dr. Yemi Kale, Group Chief Economist&Managing Director of Research at Afreximbank, emphasized that while the AfCFTA holds immense potential for Africa's economic growth, its success hinges on the ability of businesses to fully understand and operationalize its provisions. However, limited understanding of its technical and operational aspects has prevented many businesses from fully leveraging its benefits. 'The AfCFTA is not just a policy framework—it is a catalyst for a structural shift in Africa's economic landscape,' said Dr. Kale. 'However, many African businesses are still grappling with limited awareness of the agreement's technical provisions, trade protocols, and strategic benefits. This knowledge deficit has constrained their ability to compete effectively, expand their market reach, and optimize value chains across the continent.' He further explained that without a solid grasp of the AfCFTA's tariff schedules, rules of origin, customs cooperation, and dispute resolution mechanisms, even the most competitive enterprises risk missing out on critical growth opportunities. 'This training is about more than compliance; it is about empowerment. It equips participants not only to meet regulatory requirements but also to develop export strategies, diversify markets, and improve competitiveness.' Tsotetsi Makong, Director Coordination and Programmes at the AfCFTA Secretariat, reinforced this point, stating: 'This training program will help African businesses seeking export opportunities overcome key challenges, including understanding African markets in depth, navigating market rules and compliance requirements, and optimizing cross-border product transportation. To fully harness the AfCFTA's potential, it is essential to address these barriers and build the capacity of African companies to transition from local production for domestic consumption to a model that supports exports across the continent and beyond.' He further highlighted Afreximbank's commitment to the AfCFTA's full implementation, stressing that by developing the necessary competencies and industrial capacity, all African nations can maximize the benefits of a single market. He called on both public and private sector stakeholders to deepen their understanding of the agreement's operationalization to drive sustainable economic growth. Afreximbank's role in advancing the AfCFTA As a key partner to the African Union in the implementation of the AfCFTA, Afreximbank has spearheaded multiple initiatives that enhance intra- and extra-African trade and investment. Leveraging the expertise of its Trade Intelligence Solutions Unit and Human Resources and Learning Department, the Bank serves as the anchor institution for the AfCFTA Training Program, ensuring that African businesses are well-equipped to thrive in the new trade environment. The upcoming training is the second edition and will also mark a milestone as one of the first major events hosted at the recently launched Afreximbank African Trade Centre (AATC) in Abuja. Purposely designed as a strategic hub for trade facilitation, investment promotion, and business collaboration, the AATC features state-of-the-art conference facilities, premium hospitality services, and a dynamic environment conducive to learning and networking . By equipping African businesses with the knowledge and tools needed to navigate the AfCFTA, Afreximbank continues to play a pivotal role in unlocking Africa's vast trade potential and driving economic transformation across the continent. Distributed by APO Group on behalf of Afreximbank. Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@ Follow us on: X: Facebook: LinkedIn: Instagram: About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt. For more information, visit:
