2024-07-10 22:04:56
Ecobank has launched the Single Market Trade Hub, a platform to connect traders across Africa, as part of the 1.4 billion person African Continental Free Trade Area (AfCFTA) single market.
Ecobank Nigeria said more than 4,000 businesses in 33 countries are already connected to the Single Market Trade Hub and benefit from the synergies offered by the hub.
Therefore, the bank advises small and medium enterprises (SMEs) as well as large corporations in Nigeria to quickly take advantage of its platform to connect their businesses with others on the continent.
According to the bank, the Single Market Trade Hub is a leading digital platform designed to meet the trading needs of small and medium enterprises and corporates within the African Single Market.
The online platform connects traders across Africa, part of the single AfCFTA market of 1.4 billion people. It also serves as a place of exchange and information for cross-border trade.
Speaking in Lagos on Wednesday, the Executive Director of the commercial bank, Mr. Kola Adeleke, said the Single Market Trade Hub provides a gateway to explore and access continental trade opportunities across Africa, and has invested the bank to make the platform more convenient. used through digital customer onboarding, and more profitable through access to better pricing.
« The African Continental Free Trade Area (AfCFTA) has created a great opportunity for African businesses and as the pan-African bank with the largest coverage in Africa, Ecobank is perfectly positioned to provide trade, information and trade and payment solutions to support with SMEs and businesses looking to benefit from the single market”he declared.
On the specific benefits of the platform, Mr. Adeleke noted that it provides commercial and payment solutions, as a gateway to Ecobank’s full range of digital products, including trade finance services, Treasury Management Solutions, Domestic and Cross Border Payments and Collections. Investment Banking, Capex Funding, and more.
In addition, it also serves as an online matchmaking platform, allowing importers and exporters to create their business profile, showcase their goods and services, find suppliers and connect with buyers and suppliers across Africa.
Finally, Ecobank, as an AfCFTA expert, uses the Hub as a valuable repository of knowledge and information on the African Continental Free Trade Area, to help SMEs and businesses adapt to the single market and ways to expand their trade to new African markets .
Mr. Adeleke recalled that Ecobank Nigeria recently hosted the “Adire Lagos Experience” with over 100 Adire vendors, where the bank committed to profiling merchants on the Trade Hub and positioning them so that they can export their products to other countries in Africa and beyond.
He noted that this would not only increase the export capacity of locally produced textiles, by leveraging the African Continental Free Trade Agreement, but would also help traders build their capacity, improve the quality of the what they produce for export purposes and finally to ensure that Adire becomes a global company. a well-known African brand.
GIK/lb/Sf/APA
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