The Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has disclosed that a $1 billion trade financing facility is to be established for Small and Medium Enterprises looking to expand their businesses across the continent.
According to Wamkeke Mene, the treaty is in talks with commercial banks to establish a $1 billion trade financing facility for SMEs or exporters looking to operate within the trade agreement pact. He, however, noted that multiple currencies in Africa could be a major challenge,
The CEO, Africa Regions Standard Bank Group, Sola David-Borha encouraged African Businesses to take advantage of the AfCFTA as there is a huge opportunity that can only be tapped through good governance, partnerships, and technology across the continent.
