The African Export-Import Bank (Afreximbank) and the International Trade Centre (ITC) have renewed and expanded their memorandum of understanding (MoU) to strengthen intra-African trade, small and medium-sized enterprise (SME) competitiveness, and South-South cooperation. The MoU was signed by Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, and Ms. Pamela Coke-Hamilton, Executive Director of ITC, on the sidelines of the Intra-African Trade Fair 2025 (IATF2025).
Under the renewed MoU, Afreximbank and ITC will promote SME competitiveness, capacity building related to the African Continental Free Trade Area (AfCFTA), and sustainable livelihoods through the creative industries. They will also strengthen Africa’s trade partnerships with the Caribbean and Arab regions and increase access to finance for businesses, including small businesses. The partnership aims to empower SMEs and creative entrepreneurs, foster Africa-Caribbean linkages, and advance AfCFTA implementation.
According to Prof. Oramah, the renewed MoU will help expand Africa’s creative industries, deepen South-South cooperation with the Caribbean, and strengthen AfCFTA’s private sector impact. He emphasized the importance of the IATF as a platform for unlocking the potential of SMEs to drive Africa’s trade-led development. Ms. Coke-Hamilton noted that the partnership will continue to work together to make trade easier, more accessible, and less costly across the continent, for all African businesses, including the smallest and those led by women and youth.
The IATF2025, which took place from September 4 to 10, was a huge success, with over 112,000 visitors from 132 countries and US$48.3 billion in trade and investment deals signed over the seven days of the continental exposition. The event welcomed 2,148 exhibitors and demonstrated the potential of SMEs to drive Africa’s trade-led development. The renewed MoU between Afreximbank and ITC is expected to build on this momentum and further strengthen intra-African trade and SME competitiveness.