Afreximbank Pushes Continental Transit Guarantee Scheme, Eyes $300m Annual Savings in Trade Costs

The Executive Vice President of the Intra-African Trade Bank, African Export-Import Bank (Afreximbank) Kanayo Awani , has unveiled major plans to overhaul Africa’s cross border trade logistics, announcing that its African–Zimbabwean Collaborative Transit Guarantee Scheme could save the continent more than $300 million annually once fully operational.

Kanayo Awani disclosed this while addressing delegates at the ongoing Customs Pact: Partnership for African Cooperation in Trade summit in Abuja on 17th November, 2025.

Awani explained that the scheme, already in effect across the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC), replaces fragmented national bonds with a single transit guarantee, significantly lowering business costs and protecting cargo movements. The initiative is backed by a real-time cargo tracking system under a $300 million facility with ZEPRI and PTA Reinsurance.

She said Afreximbank is now working toward expanding the model into the Economic Community of West African States (ECOWAS), in collaboration with the ECOWAS Bank for Investment and Development, to support the region’s newly endorsed transit regulations. According to her, Nigeria is positioned to champion its rollout, helping the subregion improve efficiency and compliance in goods movement.

Awani stressed that the aim was not to replace national insurance frameworks and chambers of commerce, but to complement and empower them to take on larger-scale operations in line with AfCFTA commitments.

Highlighting the need for greater infrastructure along Africa’s borders, she cited the Nigeria–Cameroon multinational highway project which includes joint border posts, feeder roads, and market facilities as an example of initiatives Afreximbank is ready to support with financing and technical capacity.

She emphasised that strengthening borders requires investment in technology driven solutions, including digitized customs systems, single window platforms, inland and deep seaports, dry ports, logistics hubs, GPS tracking tools, and risk based clearance systems. She also called for private sector participation in building and operating modern border facilities such as truck parks and one-stop posts.

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She reminded the audience that customs officers remain essential to Africa’s economic success, describing them as key enablers of trade whose professionalism and efficiency will directly influence the success of AfCFTA.

She urged stakeholders to transform policy frameworks into real outcomes, insisting that trade facilitation is ultimately about moving Africa forward. Awani concluded by inviting participants to Nigeria for the International Economic Trade Forum (IETF) in 2027.