Zimbabwean fuel importer Witeva closes $5.3 million deal via Afreximbank platform

Zimbabwean fuel importer Witeva Trading, a Harare-based fuel importer, has successfully executed a $5.3 million cross-border gasoil transaction, leveraging the Africa Trade Gateway, the flagship digital platform of the African Export-Import Bank, in a deal that highlights the growing role of integrated ecosystems in facilitating African trade.

The transaction involved sourcing a gasoil shipment from a Switzerland-based commodity trader, with Innbucks Microbank Ltd. acting as the local issuing bank, while Afreximbank provided confirmation support under a structured trade finance arrangement.

Inside Witeva’s $5.3 million deal

By connecting the buyer, supplier, and financial institutions within a single ecosystem, the Africa Trade Gateway enabled the seamless identification of the opportunity, access to financing, and execution of the transaction. The deal demonstrates how African businesses can increasingly rely on digital platforms to streamline cross-border trade and reduce friction in accessing global markets.

The milestone transaction is also significant for the platform itself, marking Innbucks Microbank’s first completed deal through the system and the first energy-sector transaction recorded on the Gateway in Southern Africa.

Africa Trade Gateway gains traction

Peter Olowononi, Director of Regional Operations for Southern Africa at Afreximbank, said the deal underscores the importance of bringing businesses and financial institutions together within a unified trade ecosystem, noting that improved access to trade finance is helping expand participation in regional and international commerce.

Emeka Onyia, Director of Digital Business at Afreximbank, described the Africa Trade Gateway as an ecosystem designed to do more than connect users, emphasizing its role in helping businesses discover opportunities, engage trusted counterparties, and move efficiently from deal origination to execution. He added that each successful transaction strengthens the network, builds trust, and expands future trade opportunities.

Digital platforms reshape African trade

For Afreximbank, a key driver of trade finance across the continent, the deal reflects its broader strategy to support intra-African trade and economic integration, including initiatives linked to the African Continental Free Trade Area.

As digital trade ecosystems gain traction, transactions like this are expected to play a growing role in improving efficiency, transparency, and access to finance across Africa’s trade landscape.