The Arab–African trade corridor has taken a major step forward with the announcement of a strategic partnership between the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Afreximbank (the African Export–Import Bank). The memorandum of understanding, signed on October 27, 2025, in Cairo, aims to boost trade and investment flows between Arab and African nations by aligning the risk-management and financing tools of both institutions.
Synergies Serving Economic Operators
The agreement establishes a strong cooperation framework designed to support public and private sector actors across the networks of both organizations. ICIEC, the world’s only multilateral Islamic insurer, brings its recognized expertise in risk mitigation—particularly political risk and export credit insurance—while Afreximbank contributes its extensive trade-finance and advisory platform.
As highlighted by Eng. Yasser Alaki, Director of Business Development at ICIEC, this partnership marks “an important milestone in our shared commitment to inclusive and sustainable trade and investment.” He added:
“Together, we will unlock new opportunities and deliver genuine added value to trade flows for the benefit of our member countries and private-sector partners.”
The partnership also reflects the long-standing relationship between the two institutions, aiming to deepen trade exchanges in a context where data on commerce and investment remain limited.
Pillars of Cooperation
The memorandum of understanding is structured around several key areas to ensure maximum operational integration:
Risk-Sharing:
Creation of joint mechanisms to support Afreximbank’s efforts to mobilize trade finance.
Digital Platforms and Intelligence:
Both partners will gain access to Afreximbank’s digital platforms, including the TRADAR Club (with TRADAR Intelligence – TIP – and TRADAR Regulations – TRIP).
Information Exchange:
A structured data-sharing framework will strengthen the reach and analytical capacity of both organizations.
Capacity Building and Advisory:
Joint initiatives will be undertaken to enhance the capabilities of economic operators.
Risk Management:
Deployment of the AfrexInsure initiative to optimize risk-mitigation and trade-finance tools.
According to Haytham El Maayergi, Executive Vice President for Global Trade at Afreximbank, the agreement is expected to generate “significant and mutually beneficial results” in crucial areas such as digital innovation and market development. He noted that these joint initiatives advance the strategic objectives of the Arab–Africa Trade Bridges (AATB) Program.
A High-Potential Corridor
Cooperation between ICIEC—which has insured more than USD 121 billion in trade and investment operations to date—and Afreximbank—with assets exceeding USD 40.1 billion as of end-2024—sends a strong signal for regional economic integration.
This partnership is especially timely as African countries continue to commit to the African Continental Free Trade Area (AfCFTA), a project strongly supported by Afreximbank. Aligning risk-mitigation tools with modern financing solutions promises to remove major barriers—particularly for SMEs—and open new avenues for direct investment between two historically and culturally connected regions.
The combined expertise of ICIEC—rated Aa3 by Moody’s and AA- by S&P Global Ratings—and Afreximbank—rated Baa2 by Moody’s and BBB- by Fitch—provides a foundation of trust essential for accelerating trade growth along this strategic corridor.
