Zenith Bank’s fintech subsidiary Zenpay partners AfCFTA on innovative trade portal

INVESTIGATION: TETFund’s N3.8 billion training contract triggers procurement controversy, concernsINVESTIGATION: How Nigerian soldiers killed unarmed civilians in Kaduna community

The agreement which was signed by the Chairman of Zenpay Limited, Ebenezer Onyeagwu and the Secretary-General of AfCFTA, Wamkele Mene comes as a follow up to the Memorandum of Understanding which was previously signed by both parties. During the agreement signing, Mr Onyeagwu expressed his enthusiasm for the collaboration with the AfCFTA Secretariat, highlighting its significance given the current understanding of trade flows in Africa. He noted, “In Africa, intra-African trade constitutes only about 20% of total trade, with the rest going overseas, despite Africans making up 18% of the world population but contributing less than 5% to global GDP.

According to Mr Mene, “Four years ago, we discussed and envisioned SMARTAfCFTA as a digital platform to empower SMEs and young entrepreneurs in Africa, facilitating their inclusion in trade and boosting intra-African trade. This platform will serve as a repository for crucial trade data, offering insights on rules of origin and market intelligence, thus playing a pivotal role in implementing the AfCFTA agreement.

It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall. By eliminating barriers to trade in Africa, the objective of the AfCFTA is to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all services sectors of Africa’s economy, at a potential of 52.3 percent.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zenpay partners AfCFTA on innovative trade portalThe Nation Newspaper Zenpay partners AfCFTA on innovative trade portal
Source: TheNationNews - 🏆 6. / 69 Read more »

Zenith Bank achieves historic triple-digit topline and bottom-line growth in 2023According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange (NGX), this impressive triple-digit growth in gross earnings resulted in a Year-on-Year (YoY) increase of 180% in Profit Before Tax (PBT) from N284.7 billion in 2022 to N796 billion in 2023.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Zenith Bank Announces Plans to Raise Capital in International and Nigerian MarketsZenith Bank has revealed its intention to raise funds through the issuance of ordinary or preference shares in the international and Nigerian capital markets. The bank will hold its annual general meeting to establish a capital raising programme and seek approval from shareholders.
Source: thecableng - 🏆 2. / 80 Read more »

Recapitalisation: Zenith Bank to raise funds in international capital marketZenith Bank has announced plans to raise an undisclosed amount in the international and Nigerian capital markets.
Source: thecableng - 🏆 2. / 80 Read more »

Zenith Bank’s annual profit leaps threefold to N677 billionZenith Bank is in the middle of a transition into a holding company, an operating structure which will help diversify its income stream across other sectors within financial services and spread risk.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Zenith Bank founder, Jim Ovia chairs board of Nigerian Education Loan FundThe National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill...
Source: PremiumTimesng - 🏆 3. / 78 Read more »