UBA, AFCFTA To Drive Intra-Africa Trade For SMEs Through TradeConnect

UBA Kenya in collaboration with with RealSources Africa, AFCFTA, Brand Kenya, and DHL launched the TradeConnect initiative. TradeConnect is a continent-wide effort led by Real Sources Africa to advance intra-African trade by connecting manufacturers, SMEs, and exporters across the continent. This initiative is designed to mobilize and transport 1,000 containers of diverse goods from Kenya to Africa to streamline logistics, enhance financial inclusion, and reduce trade barriers, aligned with the African Continental Free Trade Area (AfCFTA) framework.

The official flag-off launch of export cargo destined for DRC, Zambia, and South Sudan under the AFCFTA framework, was officiated by AfCFTA Secretary-General Wamkele Mene and Kenya’s Cabinet Secretary Wycliffe Oparanya, demonstrates the implementation of the intra-Africa trade for Emerging Medium Enterprises (SMEs) and large manufacturers across the African continent. The launch and flag-off ceremony, which marked the inaugural shipment of goods was done under the African Continental Free Trade Area (AfCFTA) framework. The shipment demonstrated the vital role the MSMEs play in driving the agenda for export-led economic growth and development.

Mary Mulili-HSC, MD/CEO of UBA Kenya during a panel session noted that UBA remains committed to supporting the growth/development of SMEs in Kenya. This is in line with our strategic focus on the SME segment being a catalyst for the economic development of Kenya. This initiative is in line with the MOU signed between UBA and the Africa Continental Free Trade Area (AfCFTA) Secretariat to provide financing for up to US$6.0bn over the next 3 years to eligible SME across Africa, and USD 285Million specific allocation to Kenya. UBA is committed to driving intra-Africa trade and breaking down barriers that limit market access.

Ms. Mary Mulili, MD/CEO of UBA Kenya further added, that the TradeConnect initiative will go beyond just financing to provide non-financial services to SMEs in Kenya such as capacity building.

At the launch event, the chief guest, H.E. the Secretary-General of AfCFTA, Wamkele Mene expressed the support of the AfCFTA Secretariat for the initiative’s success. He highlighted plans to establish AfCFTA trading companies to aggregate resources, thereby creating opportunities for local SMEs to expand into regional markets of the continent and its people, which he noted was a key factor behind the partnership.

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