Afreximbank Records First Southern Africa Energy Trade Deal on Digital Platform
Afreximbank has completed a $5.3 million cross-border fuel transaction through its Africa Trade Gateway, marking the platform’s first energy-sector trade deal in Southern Africa.
By GLEBM News
The African Export-Import Bank (Afreximbank) has recorded a significant milestone in its drive to digitise intra-African trade, successfully facilitating its first energy-sector transaction in Southern Africa through its Africa Trade Gateway (ATG) digital platform.
The transaction, valued at $5.3 million, enabled Zimbabwe-based Witeva Trading to procure a shipment of gasoil from a leading commodity supplier in Switzerland, with the entire trade supported through Afreximbank’s integrated digital trade ecosystem.
According to the bank, the transaction demonstrates how digital platforms are transforming cross-border trade by connecting buyers, suppliers and financial institutions within a single ecosystem that simplifies trade execution and expands access to financing.
Under the arrangement, Innbucks Microbank Ltd. acted as the issuing financial institution, while Afreximbank provided confirmation support through a structured trade finance facility, ensuring the successful completion of the international transaction.
The bank described the development as a major breakthrough for the Africa Trade Gateway, noting that it was the platform’s first completed energy-sector transaction in Southern Africa and also marked Innbucks Microbank’s inaugural transaction on the digital platform.
Afreximbank said the milestone highlights the growing importance of digital infrastructure in removing barriers that have traditionally slowed trade across African markets, particularly in accessing verified trading partners and affordable trade finance.
The Africa Trade Gateway was launched to strengthen intra-African commerce by providing businesses with a secure digital marketplace where they can identify commercial opportunities, connect with trusted counterparties, obtain financing and complete international transactions more efficiently.
By integrating trade services into a single platform, the bank believes African businesses can reduce transaction costs, shorten processing times and improve confidence in cross-border trade.
The latest transaction comes as Afreximbank continues to expand digital solutions aimed at supporting the implementation of the African Continental Free Trade Area (AfCFTA) and increasing trade among African economies.
Trade analysts say digital trade ecosystems such as the Africa Trade Gateway could play an increasingly important role in improving market access for African businesses, particularly small and medium-sized enterprises seeking reliable financing and trusted international trading partners.
The successful completion of the transaction is expected to encourage greater adoption of digital trade platforms by businesses and financial institutions across the continent as Africa accelerates efforts to modernise trade systems and strengthen regional economic integration.
