Afreximbank and ITC renew trade pact to boost African SMEs and South-South ties

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 agreement was signed during the Intra-African Trade Fair 2025 (IATF2025) by Afreximbank President Benedict Oramah and ITC Executive Director Pamela Coke-Hamilton.

Focus on SMEs and creative industries

The renewed pact will prioritize SME competitiveness, capacity building for the African Continental Free Trade Area (AfCFTA), support for creative industries, expanded Africa-Caribbean and Africa-Arab trade partnerships, and improved financing access for small businesses.

Prof. Oramah said the agreement would help expand Africa’s creative economy and deepen South-South trade. He added that the partnership underscored the IATF’s role as a platform for unlocking SME potential to drive trade-led growth.

Scaling up partnerships

Coke-Hamilton said the expanded collaboration builds on a long-standing partnership and aims to make trade more accessible and affordable across the continent, especially for women- and youth-led businesses.

The trade fair drew more than 112,000 visitors from 132 countries, with $48.3 billion in trade and investment deals signed and 2,148 exhibitors showcasing their products and services.