AfCFTA Secretariat, Ecobank sign deal to boost intra-African trade, SMEs  

The African Continental Free Trade Area (AfCFTA) Secretariat and Ecobank Group, have signed a memorandum of understanding aimed at expanding intra-African trade and improving access to finance for businesses across the continent, particularly small and medium-sized enterprises. 

The agreement is designed to support implementation of the African Continental Free Trade Area, the flagship trade pact of the African Union that seeks to create a single African market covering more than 1.3 billion people with a combined economic output estimated at $3.4 trillion. 

Officials from both organizations said the partnership will focus on helping SMEs, women-led businesses and young entrepreneurs gain better access to trade finance, business networks and cross-border market opportunities.

Ecobank $3 billion trade finance commitment

The deal follows Ecobank’s recent announcement at the Africa-Forward Summit in Nairobi, where the lender pledged $3 billion in trade finance over the next three years in collaboration with development finance institutions. 

The bank said the funding is expected to support companies trading within and across African markets as businesses position themselves to benefit from the AfCFTA framework. 

“Access to trade and affordable finance remains critical to unlocking the full potential of the AfCFTA,” said Wamkele Mene, secretary-general of the AfCFTA Secretariat. 

He said the partnership would strengthen support for African businesses, especially SMEs, women-led enterprises and young entrepreneurs seeking to participate more actively in regional trade and supply chains. 

Michael Larbie, Ecobank’s group executive for corporate and investment banking, said the agreement reflects the bank’s long-standing focus on regional integration and economic development. “For 40 years, Ecobank has been built on a singular vision: to advance the economic development and financial integration of Africa,” Larbie said. 

He added that the lender’s operations across 34 African countries and its digital banking platform place it in a strong position to support businesses seeking to expand across borders.

Focus on SMEs, women entrepreneurs  

Under the partnership, both organizations will work together on SME training programs aimed at helping businesses better understand opportunities created under the AfCFTA. 

The agreement also includes plans to promote Ecobank’s Ellevate program, which supports women entrepreneurs and women-led businesses through financing, advisory services and business training. 

Other areas of cooperation include connecting buyers and sellers through trade databases and digital platforms, sharing market information, and working with regulators to reduce non-tariff barriers and payment challenges that continue to affect cross-border trade in Africa. 

The two organizations also plan to host forums, seminars and policy discussions focused on AfCFTA implementation and regional trade development.

AfCFTA deepens regional trade links

The partnership comes as African governments and businesses continue efforts to deepen regional trade links and strengthen local value chains under the AfCFTA framework. 

The AfCFTA agreement entered into force in May 2019, with trading officially beginning in January 2021. The pact aims to reduce trade barriers and improve the movement of goods and services across the continent. 

According to AfCFTA estimates, the agreement could raise intra-African trade by more than 50% through tariff reductions and trade facilitation measures. 

Ecobank footprint spans 34 countries

Ecobank, one of Africa’s largest banking groups, operates in 34 sub-Saharan African countries, alongside offices in France, the United Kingdom, the United Arab Emirates and China. The lender serves more than 30 million customers and employs over 14,000 people. 

In its first-quarter 2026 earnings report, Ecobank posted net revenue of $636 million, up from $516 million a year earlier. Profit after tax rose 16% to $143 million, supported by higher interest income and growth in non-interest revenue.