The African Export-Import Bank’s (Afreximbank) digital trade platform facilitated a $5.3 million cross-border fuel transaction linking a Zimbabwean importer, a Swiss commodity supplier and African financial institutions, in a demonstration of the lender’s efforts to digitize and expand trade finance across the continent.
The deal, completed through the Africa Trade Gateway (ATG), saw Zimbabwe-based Witeva Trading import a shipment of gasoil from a commodity trader in Switzerland. Innbucks Microbank Ltd acted as the local issuing financial institution, while Afreximbank provided confirmation support under an agreed trade finance structure.
The transaction is the first energy-sector trade recorded on the Africa Trade Gateway in Southern Africa and marks Innbucks Microbank’s first completed transaction through the platform.
Afreximbank said the transaction illustrates how African businesses can use a single digital ecosystem to identify commercial opportunities, connect with verified counterparties, secure trade finance and execute cross-border transactions more efficiently.
The Africa Trade Gateway connected the buyer, supplier and participating financial institutions within one digital network, enabling the transaction to move from a commercial opportunity to execution.
Peter Olowononi, Afreximbank’s Director of Regional Operations for Southern Africa, said the transaction demonstrates the benefits of integrating businesses and financial institutions into a common digital trade ecosystem.
“This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem. By creating a digital ecosystem to expand access to trade finance, Afreximbank is enabling more businesses to participate easily in regional and international trade.”
The lender launched the Africa Trade Gateway as part of its broader strategy to remove barriers to intra-African and global trade by combining market access, trade finance and digital services on a single platform.
Emeka Onyia, Afreximbank’s Director of Digital Business, said the platform is designed to facilitate commercial transactions rather than simply serve as an online marketplace.
“The Africa Trade Gateway is more than a mere digital platform; it is the ecosystem that helps trade happen. We help businesses discover opportunities, connect with trusted buyers, suppliers and financial institutions, and facilitate the journey from commercial opportunity to completed transactions. Every successful deal strengthens the network, attracts new participants and creates more opportunities for African trade.”
Onyia said each successful transaction strengthens the platform by expanding participation and building confidence among users.
“As more businesses, banks and trade partners join the ecosystem, every successful transaction expands the marketplace, strengthens trust across the network and increases opportunities for future trade,” Mr. Onyia added.
The transaction underscores Afreximbank’s push to digitize African trade as the continent seeks to reduce financing constraints and improve the efficiency of cross-border commerce under the African Continental Free Trade Area.
