East African Business Body Partners with Leading Bank to Foster Intra-African Trade

By Xinhua 

August 11, 2023

The East African Business Council (EABC) and the African Export-Import Bank (Afreximbank) have entered into a strategic partnership aimed at fostering intra-African trade and regional economic integration by raising awareness about the African Continental Free Trade Area (AfCFTA) and maximizing opportunities under the agreement.

The EABC, the apex body of business associations of the Private Sector and Corporates from the five East African Countries, said in a statement late Wednesday that under the partnership, supported with a grant from Afreximbank, the EABC will promote the implementation of the AfCFTA by engaging in specific activities that strengthen the private sector’s capacity, enhance trade facilitation and unlock new opportunities for businesses across East Africa.

Speaking at the EABC-Afreximbank AfCFTA Sensitization Workshop for SMEs’ Youth and Women in Business held in the Ugandan capital of Kampala, the EABC chief executive officer John Bosco Kalis urged the governments of the East African Community (EAC) member states to continue improving the business environment for youth to be innovative and drive integration and prosperity in Africa.

Kalisa said the partnership with Afreximbank aligned with EABC’s vision of fostering a vibrant and competitive regional business environment and expressed confidence that it would empower businesses with valuable insights into AfCFTA trade opportunities, best practices and strategies for growth.

He said that the AfCFTA agreement puts women and youth in the driving seat of Africa’s integration.

The statement said EABC-Afreximbank has kicked off the rollout sensitization workshops to raise awareness among small and medium-sized enterprises and women in business about AfCFTA protocols and their significance for business growth.