Afreximbank Launches Trade Accelerator for Eight Startups
Written by Black Hot Fire Network Team on February 3, 2026
African Export-Import Bank (Afreximbank) has selected eight startups for its inaugural Accelerator Programme, a three-month initiative designed to scale companies supporting intra-African trade and industrialization under the African Continental Free Trade Area (AfCFTA). The program aims to foster innovation and address trade-related challenges across the continent.
More than 1,600 applications were received from across Africa, the diaspora, and the Caribbean, demonstrating significant interest in trade-focused innovation linked to AfCFTA implementation. The finalists were announced on February 2, 2026, following a rigorous evaluation process.
Program Details
The selected startups operate in sectors including agriculture, e-commerce, market access, financial technology, supply chains, and manufacturing. They are positioned to address structural trade constraints and support export growth and value addition across African economies. Afreximbank’s impact investment arm, the Fund for Export Development in Africa (FEDA), will provide equity financing of up to $250,000 to the finalists, subject to selection criteria.
Participants will receive mentorship from investors and trade specialists, along with access to Afreximbank’s trade facilitation platforms, regulatory pathways, and network of partners. The program includes virtual learning modules, workshops, and in-person sessions in Abuja, Nairobi, and Cairo. The culmination will be a demo day where startups present to investors, policymakers, and industry executives.
Afreximbank’s Vision
Haytham Elmaayergi, Executive Vice President of the Global Trade Bank at Afreximbank, emphasized the bank’s belief in innovation’s power to transform intra-African trade. He described the inaugural cohort as representing the future of African enterprise and highlighted Afreximbank’s commitment to nurturing solutions that unlock trade across Africa, the diaspora, and the Caribbean.
The bank’s strategy extends beyond the continent, supporting economic integration with Caribbean Community (CARICOM) economies. Afreximbank increasingly views innovation and early-stage capital as tools to address financing and infrastructure gaps that hinder cross-border trade.
The African Continental Free Trade Area (AfCFTA)
The AfCFTA entered into force on May 30, 2019, and trading commenced on January 1, 2021. It connects 1.3 billion people across 55 African Union member countries with a combined gross domestic product of $3.4 trillion. The agreement aims to create a liberalized single market for goods and services, facilitate investment, and enable the movement of people and capital throughout Africa.
Members are committed to eliminating tariffs on most goods and services over five, 10, or 13 years. The pact initially aims to remove tariffs from 90 percent of goods, eventually allowing free access to at least 97 percent of goods and most services.
Economic Impact and Challenges
The World Bank estimates that full implementation of the AfCFTA could lift 30 million people out of extreme poverty and raise the incomes of 68 million others. It has the potential to boost Africa’s income by $450 billion by 2035 and increase exports by $560 billion.
However, successful implementation faces challenges, including deteriorating border and transportation systems, diverse legislation across markets, and governments creating trade barriers.
Supporting Trade Facilitation
The Pan African Payments and Settlement System (PAPSS), launched in January 2022, facilitates payments in local currencies, reducing reliance on hard currencies and lowering transaction costs. Afreximbank developed PAPSS in collaboration with the AfCFTA Secretariat to formalize informal cross-border trade.
Afreximbank’s Role
Afreximbank, headquartered in Cairo, was established in 1993 to finance and facilitate trade across Africa. With authorized capital of $9.96 billion, it provides trade finance, export development, project finance, and other financial services.
Beyond the Accelerator Programme, Afreximbank operates initiatives like the Afreximbank Trade Portal, providing market intelligence and regulatory information to African businesses.
Funding Landscape and Future Plans
Despite Africa’s young population and increasing digital connectivity, African startups attracted only $3.5 billion in venture capital funding in 2024, down from $4.6 billion in 2023. Trade-focused startups face challenges including regulatory complexities, currency volatility, and fragmented markets.
Details of the eight selected finalists and program specifics are available on Afreximbank’s accelerator platform. The bank plans to launch subsequent cohorts to build a sustainable ecosystem for trade-led development across Africa and Global Africa markets.
