Southern Africa Logs First Energy Trade on Afreximbank Digital Platform

July 24, 2026
By Mintesinot Nigussie

A cross-border fuel transaction valued at 5.3 million US dollars has become the first energy-sector trade completed through the Africa Trade Gateway (ATG), marking a milestone for Afreximbank's digital trade platform in Southern Africa. The transaction involved Zimbabwean fuel importer Witeva Trading sourcing a shipment of gasoil from a Switzerland-based commodity trader, with Innbucks Microbank acting as the issuing financial institution and Afreximbank providing confirmation support under an agreed trade finance structure.

The deal also marked Innbucks Microbank's first completed transaction through the platform, demonstrating how the digital ecosystem connects buyers, suppliers and financial institutions to facilitate cross-border trade. According to Afreximbank, the ATG enabled participants to identify a commercial opportunity, connect with verified counterparties and secure trade finance through a single digital network, reducing friction in executing international transactions.

Peter Olowononi, Afreximbank's Director for Regional Operations in Southern Africa, said the transaction illustrated the benefits of bringing African businesses and financial institutions together through an integrated trade ecosystem. "This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem," he said. "By creating a digital ecosystem to expand access to trade finance, Afreximbank is enabling more businesses to participate easily in regional and international trade."

The bank said the transaction highlights how businesses can use a single platform to identify trading opportunities, obtain financing and complete cross-border deals more efficiently. Emeka Onyia, Afreximbank's Director of Digital Business, described the Africa Trade Gateway as an ecosystem designed to facilitate trade rather than simply serving as a digital marketplace. "We help businesses discover opportunities, connect with trusted buyers, suppliers and financial institutions, and facilitate the journey from commercial opportunity to completed transactions," he said, adding that each completed transaction expands the network and creates additional opportunities for African trade.

Afreximbank said the successful completion of the fuel deal strengthens the platform's role in supporting regional commerce by linking businesses with financing institutions and verified trading partners across the continent.

Source: FSX Business News