Arab–Africa trade collaboration gets policy and risk support boost
The partnership creates a framework for collaboration that includes risk-sharing, information exchange and support for digital trade platforms.
ICIEC and Afreximbank have signed a memorandum of understanding to expand cooperation on trade and investment activity between Arab and African markets. It was signed in Cairo on 27 October and made public on 17 November.
The MoU was signed by Yasser Alaki, Director of the Business Development Department at ICIEC, and Kofi Asumadu Addo, Director of Guarantees and Specialised Finance at Afreximbank, representing the bank’s Global Trade Bank division.
The partnership creates a framework for collaboration that includes risk-sharing, information exchange and support for digital trade platforms. Both institutions will align their decision-support tools to strengthen services offered to public and private sector clients across their networks. The cooperation also covers access to TRADAR Club offerings, capacity-building initiatives, advisory work and integration with the AfrexInsure programme.
Alaki said, “This partnership marks a milestone in our shared commitment to inclusive and sustainable trade and investment across the Arab-Africa corridor. By combining ICIEC’s risk-mitigation expertise with Afreximbank’s expansive financing and advisory platform, we are enabling businesses to move from ambition to action. Together, we will unlock new opportunities and deliver strategic value-add to trade flows that benefit our member countries and private-sector partners.”
Haytham ElMaayergi, Executive Vice President of Global Trade Bank at Afreximbank, said, “This MoU is a testament to the long-standing relationship between Afreximbank and ICIEC aimed at deepening Arab-Africa trade. It is expected to generate mutually beneficial and meaningful outcomes in areas such as market development, risk-sharing, digital innovation, and capacity building. Both institutions look forward to advancing our joint initiatives, including the achievement of the strategic objectives of the Arab African Trade Bridge.”
ICIEC, part of the Islamic Development Bank Group, provides insurance and risk-mitigation solutions to support investment and trade among its 51 member states. Afreximbank, a multilateral trade finance institution, supports intra-African commerce and industrial development and manages platforms such as PAPSS and the AfCFTA Adjustment Fund.
