Afreximbank, ATDC unveil $500m push to transform African trade

The African Export-Import Bank (Afreximbank) and the Africa Trading and Distribution Company (ATDC) have signed a $500 million Global Credit Facility to strengthen the movement of goods, supply chains and intra-African trade. The facility will finance the purchase and aggregation of African goods, logistics, transportation, warehousing and distribution, enabling ATDC to scale trade transactions across African and global markets. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, said the agreement would help build the infrastructure required to unlock the potential of the African Continental Free Trade Area (AfCFTA). “The US$500 million Global Credit Facility extended to ATDC underscores Afreximbank’s commitment to strengthening the trade, logistics and distribution architecture required to realise the full potential of the African Continental Free Trade Area (AfCFTA),” Awani said. She said the facility would improve the distribution of African-made products, expand market access and support the growth of manufactured exports.