Trade finance: Bridging the gap in times of AfCFTA
Africa is amid a trade finance crisis set to be significant and lasting. The continent’s trade finance gap already stood at $81 billion in 2019, then as the pandemic hit, economic outflows from Africa soared above $5 billion in Q1 2020 as international banks became risk-averse in emerging economies. Now SMEs already facing cashflow difficulties amid the pandemic are confronted with an increase in letters of credit request rejections. Can pan-African banks take advantage of the international banking contraction? And can the African Continental Free Trade Area (AfCFTA), in its inaugural year, pump life into intra-Africa trade finance?
- Africanizing trade finance – eliminating sticking points for pan-African banks
- Digital and AfCFTA – Paperless transactions and the impact of AFCFTA on trade flows
- Policy measures – how to ease regulatory burdens and facilitate digital innovation
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Who should attend?
This webinar is primarily intended for CEOs, members of executive committees, legal directors and financial directors of large African companies.
Co host: IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.
For more information, visit www.ifc.org.
Ecobank Transnational Incorporated (‘ETI’) is the parent company of the Ecobank Group, the leading independent pan-African banking group. The Ecobank Group employs over 14,000 people and serves million of customers in the consumer, commercial and corporate banking sectors across 33 African countries. The Group has a banking license in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK and Dubai, the United Arab Emirates. The Group offers a full suite of banking products, services and solutions including bank and deposit accounts, loans, cash management, advisory, trade, securities, wealth and asset management. ETI is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan
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