Business Development

Afreximbank expands Trade Finance Intermediary Initiative

During 2020, the African Export-Import Bank (Afreximbank) has increased the number of its Trade Finance Intermediaries (TFIs) to more than 65 in 30 African countries. A key component of the Bank’s business model, the Trade Finance Intermediary initiative enables a smoother delivery of Afreximbank’s initiatives and credit solutions.

In line with its charter and mandate, Afreximbank delivers its products and services with and through central banks, commercial banks and other eligible bank and non-bank financial institutions. The Trade Finance Intermediaries also act as Local Administrative Agents for Afreximbank’s facilities. The Bank has put in place the Trade Finance Intermediary initiative to establish lasting relationships with these partner financial institutions.

New guidelines for appointing Trade Finance Intermediaries were introduced in 2017. As a result, Afreximbank has strengthened their role in assisting the Bank to reach eligible exporters and importers in Africa and beyond. Accredited according to rigorous criteria, Trade Finance Intermediaries are trained to understand Afreximbank’s mandate, strategy, process, and procedures. The further expansion of Afreximbank’s Trade Finance Intermediary initiative enlarges the accredited network of financial institutions that can work alongside the Bank to facilitate the transformation and development of trade across Africa.

Already this year, Afreximbank has onboarded more than 35 additional Trade Finance Intermediaries and more are expected to be approved during 2021. The local presence and knowledge of Trade Finance Intermediaries ideally position them to play an important role in delivering Afreximbank’s credit solutions. Trade Finance Intermediaries are also instrumental in helping to ensure the success of Afreximbank’s initiatives such as the newly launched MANSA repository platform – which provides a centralised pan-African source for Due Diligence and Know-Your-Customer data – and the Pan African Payment and Settlement System (PAPSS), which will enable intra-African trade and commerce payments to be made in African currencies in furtherance of the goals of the African Continental Free Trade Agreement (AfCFTA).

In order to identify its partner financial institutions, Afreximbank’s official Seal of Accreditation as a TFI is a badge of honour and a symbol of excellence acknowledging and empowering their contribution to continent-wide initiatives, commitment to the development of Africa and the delivery of credit solutions at the local level.

List of Afreximbank Accredited Trade Finance Intermediaries

CountryName of TFI
3BotswanaBank Gaborone
4BotswanaStanbic Bank Botswana
5BotswanaFirst National Bank of Botswana
6Burkina FasoCoris Bank International, Burkina Faso
7CameroonEcobank Cameroon
8Cape VerdeBanco Caboverdiano de Negócios S.A.’S (BCN), Cape Verde.
10Cote d’IvoireBGFI Cote d’Ivoire.
11EgyptBanque du Caire
12EgyptArab International Bank, Egypt
13EgyptBanque Misr
14EgyptCommercial International Bank (CIB), Egypt
15EgyptNational Bank of Egypt
16EgyptEmirates NBD Egypt
17EgyptExport Development Bank of Egypt
18GambiaAccess Bank Gambia
19GambiaEcobank Gambia
20GambiaVista Bank Gambia
21GhanaAccess Bank Ghana
22GhanaZenith Bank Ghana
23GuineaEcobank Guinea
24KenyaKCB Bank
25KenyaCooperative Bank Kenya
26LesothoStandard Bank Lesotho
27LiberiaEcobank Liberia
28MadagascarBank of Africa Madagascar
29MadagascarBNI Madagascar
30MalawiNational Bank of Malawi
31MalawiFDH Malawi
32MalawiCDH Malawi
34MaliEcobank Mali
36MauritaniaGBM Mauritania
37MauritiusBank One Mauritius
38MauritiusMCB Mauritius
39MauritiusState Bank of Mauritius
40MauritiusBarclays Bank Mauritius
41MauritiusInvestec Mauritius
42MoroccoBank of Africa BMCE
43NigerEcobank Niger SA
44NigeriaAccess Bank Nigeria
45NigeriaFCMB Nigeria
46NigeriaFidelity Bank Nigeria
47NigeriaFirst Bank of Nigeria
48NigeriaSterling Bank of Nigeria
49NigeriaUnion Bank of Nigeria
50NigeriaStanbic IBTC Bank
51NigeriaZenith Bank Nigeria
52RwandaBank of Kigali
53RwandaI & M Bank Rwanda
54Sierra LeoneEcobank Sierra Leone
55SenegalBanque Nationale de Developement Economique (BNDE),
56SudanUnited Capital Bank
57TanzaniaDiamond Trust Bank Tanzania
58TanzaniaNational Bank of Commerce Tanzania
59TunisiaTunis International Bank S.A. Tunisia
60UgandaDevelopment Finance Company of Uganda (DFCU) Ltd
61UgandaStanbic Uganda
62ZambiaStanbic Bank Zambia
63ZimbabweStanbic Zimbabwe
64ZimbabweCBZ Zimbabwe
65ZimbabweNedbank Zimbabwe

About the author

Byron Adonis Mutingwende