Zenith Bank Plc has joined forces with the African Continental Free Trade Area (AfCFTA) Secretariat to create the SMARTAfCFTA Portal, a groundbreaking platform aimed at promoting trade within Africa. The portal, designed to offer comprehensive trade-related information such as market trends, trade agreements, customs tariffs, and contact details of potential business partners across African markets, is poised to unlock substantial trade opportunities throughout the continent.
The collaboration was formalized through a Memorandum of Understanding (MoU) signed between Zenith Bank Plc’s Group Managing Director/CEO, Dr. Ebenezer Onyeagwu, and the AfCFTA Secretariat’s Secretary-General, His Excellency Wamkele Mene. The signing took place during the 8th Annual Edition of the Zenith Bank International Trade Seminar on Non-Oil Export, which focused on the Nigerian non-oil export industry’s present and future prospects. The event transpired both physically at the Civic Centre, Victoria Island, Lagos, and virtually on August 8, 2023.
Dr. Onyeagwu emphasized the partnership’s significance, stating that it aims to tap into AfCFTA’s potential not only for Nigeria’s economic growth but also for fostering trade across African nations. He underscored the pivotal role played by the annual Zenith Bank Trade Seminar in promoting non-oil exports in Nigeria, bringing together industry practitioners and government agencies to discuss opportunities and challenges in the sector. Dr. Onyeagwu noted that previous seminar outcomes have influenced policy decisions, resulting in initiatives such as extending the repatriation period for Non-Oil Export proceeds and implementing measures to facilitate export processes.
The Secretary-General of the AfCFTA Secretariat, His Excellency Wamkele Mene, expressed gratitude to Zenith Bank’s Founder and Chairman, Jim Ovia, for initiating the partnership that led to the creation of the SMARTAfCFTA Portal. He acknowledged Zenith Bank’s role in driving digital trade advancement in Africa and lauded the bank’s commitment to realizing this transformative project.
During the seminar, Dr. Kingsley Obiora, representing the Acting Governor of the Central Bank of Nigeria, commended Zenith Bank’s efforts in advocating for non-oil export promotion and highlighted the need to bolster Nigeria’s non-oil exports. Zenith Bank’s commitment to this cause was evident as it launched the Non-Oil Export Seminar in 2016, focusing on fostering discussions around the non-oil export industry in Nigeria.
The 2023 International Trade Seminar encompassed two-panel discussions, one exploring growth opportunities in Nigeria’s non-oil export industry, and the other delving into the potential of service exports. The seminar also featured a goodwill message from Mr. Olusegun Awolowo, the Secretary of the National Action Committee on AfCFTA, reinforcing the importance of collaborations like Zenith Bank’s in propelling African trade to new heights.
