NAIROBI, Oct. 5 (Xinhua) -- The African Export-Import Bank (Afreximbank) and the East African Business Council (EABC), the region's apex private sector body, have signed the Africa Trade Gateway (ATG) Agency Agreement to accelerate regional trade, the two institutions said in a statement on Monday.
The agreement, which was inked in Nairobi, connects regional enterprises, including small and medium-sized enterprises and major exporters, to the 300-million-strong East African Community Common Market and the broader African Continental Free Trade Area (AfCFTA) market of 1.3 billion consumers through digital trade, according to the statement.
Haytham El Maayergi, executive vice-president of global trade bank at Afreximbank, noted in the statement that while trade is built on connections, identifying trusted partners and accessing essential cross-border trade services remain a major challenge for many businesses.
El Maayergi noted that the ATG is designed to bridge this gap by connecting businesses with trusted buyers, suppliers, financial institutions, and essential trade services to convert opportunities into completed transactions.
"Our collaboration with EABC is helping more businesses within East Africa access new markets with greater confidence. By leveraging the trusted networks and digital services available through the Africa Trade Gateway, businesses can build meaningful connections, unlock new opportunities and participate more actively in Africa's growing digital economy," he said.
The ATG is Afreximbank's flagship digital trade ecosystem, connecting businesses, financial institutions, and trade partners across Africa and beyond. Serving as a single integrated platform, it links enterprises to verified counterparties and essential trade-enabling services, including trade finance, payments, compliance, logistics, and market intelligence, to streamline cross-border transactions.
Ahmed Farah, executive director of the EABC, said that it empowers regional enterprises by providing insights on AfCFTA market opportunities, rules of origin, tariff concessions, customs procedures, and export requirements, backed by tailored advisory support for market entry and export readiness.
"As a trade corridor partner for the Afreximbank ATG, EABC is connecting enterprises to the ecosystem, enabling access to business-to-business matchmaking and trade finance solutions that can facilitate intra-African trade under the AfCFTA," Farah added. ■
