In particular, the package should help reduce trade transaction costs, decarbonize logistics processes and accelerate the movement of goods through selected trade corridors.

TradeMark Africa (TMA), a trade aid organization created in 2010 to promote prosperity in Africa through increased trade, announced in a press release issued on June 14 that it would be mobilizing $700 million to strengthen the continent's trade capacities.

"TradeMark Arica announces its third strategic plan designed to support more inclusive, greener and digital business initiatives. As part of this strategic plan, which covers the period 2023-2030, TMA aims to raise and invest $700 million," the organization said.

In particular, this funding should help to reduce the cost of trade transactions in sub-Saharan Africa, decarbonize logistics processes and accelerate the movement of goods through selected trade corridors thanks to innovative automated systems.

Formerly known as TradeMark East Africa, TMA announced in January 2023 the expansion of its activities beyond its historical operating area of East Africa and the Horn of Africa to cover the countries of West and Southern Africa.

This non-profit organization is funded by a number of international donors, including the European Union, Ireland, Norway, the United Kingdom, the United States and the Bill & Melinda Gates Foundation.

Agence Ecofin