Zenpay & AfCFTA Secretariat unveil SMARTAFCFTA Portal

Zenpay, the fintech subsidiary of Zenith Bank, in partnership with the AFCFTA Secretariat and Microsoft, has unveiled the SMARTAFCFTA Portal. This groundbreaking initiative follows Zenith Bank's earlier signing of an MoU, committing one million dollars to develop the platform aimed at boosting trade promotion throughout the African continent. In an exclusive interview with CNBC Africa, Ebenezer Onyeagwu, Group Managing Director of Zenith Bank and Chairman of Zenpay, shared insights into the significance and potential impact of the SMARTAFCFTA Portal. The portal's primary objective is to facilitate intra-African trade and foster economic prosperity across the region. With only 20 percent of trade currently occurring within Africa, the portal seeks to bridge this gap and elevate Africa's global economic standing. Onyeagwu emphasized the need for increased visibility and connectivity among African businesses, highlighting the platform's role in showcasing products, services, and skills to a broader African audience. Beyond enhancing visibility, the SMARTAFCFTA Portal also aims to create a marketplace where trade transactions can seamlessly occur. The platform integrates a pan-African payment system to facilitate secure and efficient payment processes, further cementing its role as a catalyst for trade growth and prosperity. Discussing the collaborative effort between Zenith Bank, Microsoft, and the AfCFTA Secretariat, Onyeagwu underscored the pivotal role of the private sector in driving impactful initiatives across the continent. He emphasized that the project was driven not solely by financial gain but by a collective commitment to empowering African businesses and fostering continent-wide economic growth. The interview also delved into the transformative power of digital payment platforms in unlocking opportunities for financial inclusion and economic advancement. Onyeagwu highlighted the connectivity and agility that digital solutions offer, enabling businesses to easily connect and transact across borders. By leveraging digital technology, the SMARTAFCFTA Portal provides African businesses with a unique platform to showcase their offerings and expand their reach beyond national borders. Ultimately, the portal stands as a testament to the transformative potential of technology in driving intra-African trade and propelling the continent towards economic prosperity and global competitiveness.