CBZ champions trade Gateway to Africa’s US$3 trillion market

SAMANTHA MADE

CBZ Bank Limited has called on financial institutions across Zimbabwe and the continent to embrace the Afreximbank’s Africa Trade Gateway (ATG) platform, describing it as a game-changing digital solution to unlock Africa’s US$3 trillion market and connect over 1.4 bn people.

Speaking at the CBZ–Afreximbank ATG on-boarding breakfast meeting, Phibeon Mutibure, Executive Corporate Banking at CBZ Bank Limited, said the ATG has the power to break down long-standing barriers to trade such as fragmented markets, high transaction costs, and limited access to trade finance, while promoting efficiency, scalability, transparency, and inclusivity across Africa.

“Africa is at a pivotal moment. With the African Continental Free Trade Area (AfCFTA) now in motion, under which Zimbabwe is a member, we have a historic opportunity to unlock a single market of over 1.4 billion people and a combined Gross Domestic Product of more than USD3 trillion,” Mutibure said.

He added:“But to fully realize this potential, we must overcome long-standing barriers, chief among them fragmented markets, high transaction costs and limited access to trade finance. This is where digital innovation becomes a game-changer. The ATG is not just a platform; it is a gateway to a new era of trade efficiency, scalability, transparency and inclusivity.”

Mutibure outlined several benefits of the ATG, including enhanced connectivity, risk mitigation, data-driven insights, and access to finance.

“The ATG connects you to a trusted network of importers, exporters, and service providers across Africa and beyond, opening doors to new markets without the need for physical presence,” he said.

He further highlighted that the platform integrates logistics, insurance, and payment systems, providing a seamless, end-to-end trade management solution.

“End-to-end trade management is achieved through the connection of not just buyers and sellers but also logistics providers, insurers, and payment systems, creating a one-stop solution,” Mutibure said.

CBZ Bank has pledged to support its clients in leveraging the opportunities offered by the ATG, through tailored trade finance products, advisory services, and onboarding support.

“Our role as your banking partner is to ensure that you can fully leverage these opportunities and thrive in this new digital trade ecosystem,” Mutibure said.

Annerose Ngemu, Senior Manager for Digital Banking at Afreximbank, underscored the need for African countries to move beyond rhetoric and take practical steps to integrate under the AfCFTA framework.

“The key message is that Africa has the potential. AfCFTA is the broadest economic agreement, but we need to take practical steps to participate in the single market. The ATG is the tool that enables us to access this market, and it’s not just about technology, it’s about the community. The community is what will make this succeed,” Ngemu said.

The launch of the Africa Trade Gateway is being hailed as a milestone in Africa’s digital trade transformation, aligning with AfCFTA’s vision to deepen intra-African trade, stimulate economic growth, and drive job creation and poverty reduction.