The African Development Bank (AfDB), the African Continental Free Trade Area (AfCFTA), and Africa50 have signed a landmark Memorandum of Understanding (MoU) to accelerate regional integration and promote digital trade across Africa.
The agreement was sealed at the Africa50 General Shareholders Meeting in Maputo, Mozambique, with the aim of strengthening infrastructure and creating a more connected African economy.
According to AfDB Vice President for Private Sector, Infrastructure and Industrialisation, Solomon Quaynor, the partnership prioritises the development of multimodal transport corridors, logistics hubs, ports, and airports—measures expected to lower the cost of doing business across borders.
He noted that the pact will also harness digital transformation by supporting data centres and trade platforms that enable African enterprises, particularly small and medium-sized businesses, to compete globally.
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"The Bank has invested more than $55 billion in regional economic corridors and power pools over the last nine years, including over $8 billion in 109 cross-border infrastructure projects," Quaynor revealed.
Africa50 CEO, Alain Ebobissé, described the partnership as one of the continent's greatest collective efforts to finance and deliver trade-enabling infrastructure.
On his part, AfCFTA Secretary-General, Wamkele Mene, said the collaboration is vital for the successful implementation of the free trade area. He emphasized that Africa must invest in infrastructure, institutions, and skills to double intra-African trade to 25% by 2030.
The three-year agreement will operate on six pillars, including alignment with AfCFTA objectives, innovative financing, project identification, and integrating environmental and social standards. It will be executed through joint work plans, technical groups, and targeted agreements aligned with regional and national priorities.
For Africa's small businesses, this initiative could open new markets, reduce operational barriers, and provide the digital tools needed to thrive in a rapidly changing global economy.
