Ecobank Group, a Pan-African banking powerhouse, has introduced the game-changing ‘Ecobank Single Market Trade Hub’ today, reaffirming its dedication to fostering trade within Africa.
The highly-anticipated Trade Hub is now operational, with an impressive enrollment of over 300 businesses from 22 different countries on its digital platform.
This innovative platform serves as a vital link, uniting traders across the vast African continent under the overarching framework of the African Continental Free Trade Area (AfCFTA), which boasts a staggering population of 1.4 billion people.
Trade Hub is a cutting-edge digital platform aimed at meeting the evolving trading requirements of small and medium enterprises (SMEs) and corporates within Africa’s single market. This advanced hub not only acts as an exchange platform but also serves as a comprehensive repository of valuable trade information.
By leveraging Ecobank’s extensive client base and network advantage spanning 35 African markets, the Trade Hub significantly reduces information disparities and promotes equal access to trade opportunities for businesses across the continent.
“AfCFTA has created an immense opportunity for African businesses. As the pan-African bank with the most extensive coverage of Africa, Ecobank is perfectly placed to provide trade, information and payment solutions to support SMEs and corporates seeking to capitalize on the single market.
The Ecobank Single Market Trade Hub is a new and remarkable addition to our portfolio of omni-channels, empowering businesses to thrive within Africa’s single market,” said Jeremy Awori, Chief Executive Officer of Ecobank Group.
The Trade Hub offers the following essential features and services:
- MyTradeHub: An online match-making platform that enables importers and exporters to create company profiles, exhibit their goods and services, and connect with buyers and suppliers across Africa.
- AfCFTA expertise: A valuable repository of knowledge and information on the African Continental Free Trade Area, to help SMEs and corporates to familiarize themselves with the single market and ways to expand their trade into new African markets.
- Trade and Payment Solutions: A gateway into Ecobank’s full range of products and digital solutions, including trade finance and services, cash management solutions (including RapidCollect), domestic and cross-border payments, investment banking, Capex financing, and more.
Souleymane Diagne, Group Head Trade, Ecobank Group, added:
“The AfCFTA has revolutionised the African business landscape and the Ecobank Single Market Trade Hub, within this context, is an enabler of intra-African trade through catalysing partnerships and facilitating African businesses’ access to new markets. Using the MyTradeHub feature, importers and exporters can upload their profile and showcase their goods and services online to find buyers or source them from suppliers within the continent.
“Combining the matchmaking capabilities of MyTradeHub, extensive AfCFTA information resources, and a seamless access to Ecobank’s comprehensive suite of financial solutions and digital channels, the Trade Hub will help businesses thrive within the AfCFTA and maximise their value-addition across regional corridors.”