Afreximbank Advances AfCFTA Border Market Reforms, Boosts Trade Infrastructure

At the 2025 Intra-African Trade Fair, Afreximbank reaffirmed its commitment to advancing the African Continental Free Trade Area (AfCFTA) by supporting tariff liberalization, infrastructure development, and logistics improvements, including a $70 million investment that significantly reduced border crossing times at Beitbridge. AfCFTA Secretary General Wamkele Mene emphasized that the agreement is designed to empower ordinary Africans, such as entrepreneurs and youth, rather than just political elites, highlighting partnerships with Afreximbank to support SMEs and startups. Mene also viewed U.S. President Donald Trump's tariffs and the end of the Africa Growth Opportunity Act as opportunities for Africa to pivot from dependence to self-sufficiency by leveraging AfCFTA tools like trade finance and customs system harmonization. The AfCFTA aims to create a more facilitative customs environment to boost intra-African trade, despite challenges both within and outside the continent's control. These efforts reflect a broader vision for Africa to realize tangible economic opportunities through continental integration and improved trade infrastructure. Afreximbank's initiatives, including the Pan-African Payment and Settlement System and a $1 billion transit guarantee scheme, further support these goals by easing trade costs and complexities.