African Export-Import Bank (Afreximbank) and Ecobank Group are teaming up to simplify trade and compliance for African businesses. The partnership integrates Ecobank’s Single Market Trade Hub with Afreximbank’s MANSA Digital Repository Platform.
This collaboration makes it easier for African businesses to trade and comply with regulations. Businesses using Ecobank’s Trade Hub can access MANSA’s detailed database for efficient Know-Your-Customer (KYC) and customer due diligence (CDD) checks.
Similarly, MANSA platform users can connect to the Trade Hub to find trade opportunities and expand their reach across Africa.
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Streamlining Trade Across 35 Countries
The Ecobank Single Market Trade Hub connects businesses across Africa on one platform. It supports the African Continental Free Trade Agreement (AfCFTA), which unites 1.4 billion people.
The Trade Hub provides SMEs and corporates with insights about AfCFTA. It also features an online match-making tool for importers and exporters to showcase their goods and services.
Once a match is found, businesses can connect and complete transactions using Ecobank’s trade and payment solutions in 35 African countries.
The MANSA Digital Repository Platform is a central resource for due diligence on African entities. It eliminates information gaps and boosts intra-African trade and global trade connections.
Entities onboarded on MANSA receive an Africa Entity Identifier (AEI) code. This code helps them access Afreximbank’s other products and initiatives.
“MANSA drives and promotes good governance culture among African SMEs and creates visibility for their businesses,” said Afreximbank.
Fostering Financial Integration
The new partnership tackles key challenges in KYC compliance and trade access. It also supports businesses to diversify and grow exports locally and internationally.
The improved interoperability between the two platforms will streamline cross-border trade and compliance. This will foster greater financial and economic integration across Africa.
MANSA is part of the Africa Trade Gateway (ATG) marketplace. It helps businesses access trusted information and accelerate activities on the platform. “The platform enables African entities to accelerate their business activities at the ATG marketplace,” Afreximbank added.
This partnership strengthens efforts to support businesses across Africa. It provides vital tools to help businesses succeed in a growing unified market.