The report documents Africa’s total merchandise trade recovering by 13.9% in 2024 to reach US$1.5 trillion, while intra-African trade grew by 12.4% to US$220.3 billion. Afreximbank’s report identifies ongoing global transformations including geopolitical fragmentation, the rise of protectionism, volatile capital flows, and a move towards deglobalisation, which present both challenges and opportunities for African economies.
The bank notes the scaling up of support and innovation in trade finance, with Afreximbank and other multilateral institutions disbursing over US$17.5 billion in 2024 and targeting US$40 billion in intra-African trade financing by 2026. The Pan-African Payment and Settlement System (PAPSS) has expanded, now connecting 16 central banks and 150 commercial banks, with the aim of reducing transaction costs by up to 50% and boosting intra-African trade efficiency.
Read more at: https://www.tanzaniainvest.com/economy/trade/afreximbank-african-trade-report-2025
