International Finance Corporation (IFC) and Ecobank Transnational Incorporated Support Trade Finance in Seven African Countries

KIGALI, Rwanda – To promote trade and foster economic growth in Africa, the International Finance Corporation (IFC) has partnered with Ecobank Transnational Incorporated (ETI) to provide a $140 million trade finance guarantee facility. Announced at the Africa CEO Forum in Kigali, this initiative will enhance trade finance operations across ETI’s subsidiaries in Burkina Faso, Cameroon, Cote d’Ivoire, Ghana, Malawi, Mali, and Togo.

This collaboration is part of the IFC’s African Trade and Supply Chain Finance Program (ATRI), which has a substantial commitment of $1 billion to bolster Africa’s regional trade development. The facility will leverage ETI’s extensive African network, facilitating the development of new trade partnerships and reducing the continent’s reliance on imports, thereby contributing to sustainable economic development.

Alain Nkontchou, Chairman of Ecobank Transnational Incorporated, emphasized the significance of this partnership: “Our collaboration with IFC reinforces our commitment to enhancing intra-Africa trade and supporting small and medium-sized enterprises (SMEs) in engaging confidently in cross-border trade. Through this program, we aim to remove financial barriers and capitalize on our borderless payment platform to exploit the benefits of the African Continental Free Trade Area.”

Sérgio Pimenta, IFC’s Vice President for Africa, highlighted the partnership’s broader impacts: “By facilitating easier access to finance, this partnership will not only support economic growth but also boost job creation across the continent. Our focus extends to providing advisory services to Ecobank and its subsidiaries to enhance their support for SMEs, especially those owned or run by women.”

The Global Trade Finance Program (GTFP) under IFC extends and complements banks’ capacity to offer trade financing by providing risk mitigation in new or challenging markets. To date, the GTFP has issued guarantees totalling over $100 billion globally, with $9.1 billion issued in the last financial year, of which $3.5 billion was allocated to Africa.

IFC and Ecobank have maintained a strong partnership since 1993, consistently supporting trade, business growth, and entrepreneurship across the continent.