African Trade Chamber, West African Bankers’ Association sign landmark deal to boost regional trade

The African Trade Chamber (ATC) and the West African Bankers’ Association (WABA) have signed a landmark Memorandum of Understanding (MoU) aimed at advancing regional financial integration and facilitating trade across West Africa.

The agreement seeks to expand access to trade and investment finance while strengthening the foundation for private sector-led economic transformation within the subregion.

The MoU was formally signed by Benedicta Lasi, Executive Chair of the African Trade Chamber, and Alhagie Jeng, Secretary-General of the West African Bankers’ Association.

The partnership marks a significant milestone in aligning Africa’s trade and financial sectors to accelerate the objectives of the African Continental Free Trade Area (AfCFTA) and deepen cooperation under the ECOWAS and West African Monetary Zone (WAMZ) frameworks.

According to both institutions, the collaboration underscores a shared commitment to building a resilient and inclusive regional financial system capable of supporting cross-border trade, industrial growth, and investment.

The initiative will focus on strengthening mechanisms for cross-border payments, reducing transaction costs, and expanding access to affordable finance—particularly for small and medium-sized enterprises (SMEs), as well as women and youth-led businesses.

Commenting on the signing, Benedicta Lasi described the agreement as a defining moment in Africa’s trade and finance convergence.

“Africa’s private sector cannot fully benefit from AfCFTA without a dynamic and integrated financial system that serves as the engine of enterprise and investment,” she said.

“This partnership with WABA connects two vital arteries of Africa’s development—trade and finance—and together we will build the bridges that enable businesses to scale beyond borders.”

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