Zenpay Limited, a subsidiary of Zenith Bank, a financial services group led by Nigeria’s richest banker Jim Ovia, has sealed a deal with the African Continental Free Trade Area (AfCFTA) Secretariat, unveiling plans to introduce the SMARTAfCFTA Portal. This platform aims to revolutionize continental trade, marking a stride towards enhancing pan-African commerce.
Zenpay, AfCFTA pact to boost trade
The agreement, formalized on May 3, 2024, at the Zenith Bank Headquarters in Victoria Island, Lagos, witnessed the convergence of key stakeholders. Zenpay Chairman Ebenezer Onyeagwu and AfCFTA Secretary-General Wamkele Mene sealed the pact, symbolizing a collaborative commitment to AfCFTA’s objectives.
In his remarks, Onyeagwu underscored the imperative of intra-African trade, stressing the potential for collective prosperity through regional economic integration. He emphasized the altruistic nature of the initiative, prioritizing AfCFTA’s mission above commercial gains, with a focus on fostering a unified market and standardizing trade practices.
Zenith Bank, led by Ovia, backs AfCFTA trade portal
Zenith Bank Plc, a leading financial services group helmed by Nigeria’s wealthiest banker Jim Ovia, has been instrumental in shaping the Nigerian banking landscape since its inception in 1990. With Ovia retaining a significant stake in the bank, Zenith’s influence extends across Nigeria and Anglophone West Africa.
The SMARTAfCFTA Portal, conceived as a joint endeavor between Zenpay and the AfCFTA Secretariat, holds promise in empowering small and medium-sized enterprises (SMEs) and young entrepreneurs across Africa. Mene lauded Zenith Bank’s dedication to the project, foreseeing its potential to stimulate trade participation and elevate intra-African commerce.
Africa trade gets boost from new portal
The collaborative venture between Zenpay Limited and the AfCFTA Secretariat signifies a concerted push towards economic integration and sustainable development across the continent. With the impending launch of the SMARTAfCFTA Portal, stakeholders anticipate a transformative shift in intra-African trade dynamics, heralding an era of shared prosperity and advancement.
As Africa charts a course toward economic convergence and regional cohesion, initiatives like the SMARTAfCFTA Portal serve as catalysts for progress. The partnership between Zenpay Limited and the AfCFTA Secretariat epitomizes a collaborative ethos, poised to reshape the continent’s commercial landscape and drive inclusive growth.
