Ecobank Group, a leading pan-African banking entity, has asserted its role as the primary bank for payments and trade on the continent. Speaking at the Intra-African Trade Fair 2023 (IATF 2023) in Cairo, Egypt, Eric Odhiambo, Group Executive of Corporate and Investment Banking, highlighted Ecobank’s digital platforms that facilitate seamless payments and collections across the 35 African countries where the bank operates.
IATF 2023, themed “Connecting African Markets,” serves as a strategic platform for businesses to enhance intra-African trade and investments within the framework of the African Continental Free Trade Area (AfCFTA), fostering a single market of 1.4 billion people.
Odhiambo emphasized, “With our comprehensive suite of banking products, services, solutions, and our established digital platform, Ecobank is positioned as the ‘go-to’ bank for payments and trade.” He highlighted the Ecobank Single Market Trade Hub, a cutting-edge digital platform designed to meet the evolving trading needs of SMEs and corporates within Africa’s single market.
Key features and services of the Ecobank Single Market Trade Hub include:
-MYTRADEHUB: An online matchmaking platform connecting importers and exporters, enabling them to showcase their goods and services and connect with partners across Africa.
-AFCFTA EXPERTISE: A repository of knowledge on the African Continental Free Trade Area, assisting SMEs and corporates in understanding the single market and expanding their trade into new African markets.
-TRADE AND PAYMENT SOLUTIONS: A gateway to Ecobank’s full range of products and digital solutions, including trade finance, cash management, domestic and cross-border payments, investment banking, and more.
In addition to the Trade Hub, Ecobank provides solutions like RapidCollect, facilitating instant and cost-effective payments collection in 33 countries. The bank also supports businesses in establishing an online presence and developing free websites through the Google My Business Platform. Furthermore, Ecobank serves as an inter-bank settlement agent for Central Banks in countries yet to join the Pan-African Payment and Settlement System (PAPSS).
IATF 2023, as a key awareness-raising event, aims to help African businesses tap into the opportunities and benefits of AfCFTA, fostering investments and bolstering value chains. Ecobank Group is committed to playing a significant role in achieving AfCFTA’s objectives and proudly sponsors IATF 2023.