The Afreximbank Trade Facilitation Program enhances the confidence of counterparties in the settlement of international trade transactions and improves correspondent banking relationships. It supports critical imports into Africa, boosts intra-African trade and facilitates the purchase of equipment for the production of export goods. It provides trade confirmation services, trade confirmation guarantees and irrevocable reimbursement undertakings.
AFTRAF is designed to counter the recurring trend of reduction or withdrawal of trade lines to African banks by the international banks following the de-risking process. The program is offered to African financial institutions in response to the increasing de-risking of African banks as a result of the stringent compliance and regulatory requirements imposed by international banks.
It enables local banks to use the trade confirmation guarantee facility to expand their correspondent banking relationships.