Afreximbank and Ecobank Unite to Boost African Trade with New Digital Platforms

December 20, 2024
Afreximbank and Ecobank Unite to Boost African Trade with New Digital Platforms
  • Afreximbank and Ecobank Group have initiated a collaboration aimed at enhancing trade and compliance for African businesses.

  • Central to this initiative is the Ecobank Single Market Trade Hub, which connects businesses on a unified platform, promoting opportunities within the African Continental Free Trade Agreement (AfCFTA) market of 1.4 billion people.

  • The MANSA Digital Repository Platform complements this effort by serving as a centralized database for due diligence on African entities, thereby promoting transparency and good governance.

  • By acting as a repository for small and medium enterprises, MANSA provides insights on the AfCFTA and facilitates matchmaking for importers and exporters.

  • The platform includes an online matchmaking service, allowing importers and exporters to showcase their profiles and goods to streamline business connections.

  • Once matches are established, transactions can be executed using Ecobank's trade and payment solutions, which are available in 35 African countries.

  • This integration allows users to conduct efficient know-your-customer (KYC) and customer due diligence (CDD) checks through a shared database.

  • Users of both the Ecobank and MANSA platforms will benefit from these efficient KYC and CDD checks, facilitating business expansion across the continent.

  • Entities registered on the MANSA platform receive an Africa Entity Identifier (AEI) code, which simplifies access to Afreximbank products and initiatives.

  • Additionally, MANSA supports the Africa Trade Gateway marketplace, enabling businesses to utilize verified information for their transactions.

  • Ecobank Group stands as a leading private banking institution in Africa, offering a diverse range of financial services across multiple countries.

Summary based on 2 sources


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