Afreximbank has reiterated its strong commitment to boosting intra-African trade, advancing industrialisation, and strengthening regional value chains under the African Continental Free Trade Area (AfCFTA). The bank pledged expanded financing tools and deeper policy support aimed at ensuring that every African country benefits from the rollout of the continent-wide market.
This assurance was delivered in Abuja by Dr. Gainmore Zanamwe, Director of Trade Facilitation and Investment Promotion at Afreximbank, during the AfCFTA Public Sector, Private Sector, and Press Summit. In his remarks, he explained that the bank has developed a set of innovative financing solutions designed to unlock new trade and investment opportunities across Africa.
Zanamwe noted that Afreximbank disbursed $20bn between 2017 and 2021 to support intra-African trade and is on track to double that figure to $40bn by 2026. He highlighted two key interventions: the Global Facility for Intra-African Trade Champions (INTRA-CHAMPS) and the Engineer, Procure and Contract Initiative. These programmes, he said, are instrumental in building Africa’s industrial champions and enhancing the continent’s productive capacity.
INTRA-CHAMPS offers financing, risk guarantees, advisory services, and ecosystem support to companies capable of expanding across borders. Zanamwe said the programme is already reshaping Africa’s industrial landscape. He cited ElSewedy Electric, which expanded into more than 15 African countries with Afreximbank’s backing, as well as the Dangote Group, one of the bank’s most consistent beneficiaries, whose cement, fertiliser, and refinery projects anchor value chains across the region. These examples demonstrate that African companies can drive the continent’s industrial transformation when supported with the right tools.
He added that Afreximbank’s strong participation in the P3 Summit reflects its unwavering commitment to making the AfCFTA fully operational. According to him, the bank is determined to translate the AfCFTA from a legal framework into a powerful engine for industrialisation and regional value-chain growth. To achieve this, Afreximbank will continue deploying its trade finance instruments to accelerate the agreement’s implementation.
Acknowledging that the transition to a liberalised trade environment may pose challenges, particularly for countries adjusting to new tariff structures, Zanamwe pointed to the AfCFTA Adjustment Fund, established jointly with the AfCFTA Secretariat. Backed by a $1bn commitment, the fund includes $100m for the Credit Fund and $10m for the Base Fund. The Credit Fund is already active, with $10m disbursed, while ongoing fundraising will help compensate countries for temporary tariff revenue losses, ensuring no nation is left behind.
He also discussed the importance of trade standards, quality assurance, and export competitiveness. Afreximbank supported the Africa Quality Policy and contributed to the review of Nigeria’s Quality Policy. Zanamwe stressed the need for Nigeria to pass the National Quality and Food Safety Bill to improve product standards, enhance export readiness, and strengthen the country’s role in regional value chains.
Concluding his address, he described the AfCFTA as a historic opportunity for Africa to industrialise, scale up production, and build shared prosperity. Realising its full potential, he said, will require bold reforms, collective effort, and sustained investment. “Africa’s trade future is continental, integrated, and industrialised and the moment to take decisive action is now,” he said.
