By Amy Moyi
Africa’s ability to scale cross-border trade depends on rebuilding trust between buyers, sellers, and financiers, according to Cyprian Rono, Director of Corporate and Investment Banking for Kenya and East Africa at Ecobank.
In a statement on the future of African trade finance, Rono said many businesses remain hesitant to expand beyond familiar markets due to weak information on potential partners, fragmented regulatory regimes and documents that are difficult to verify across borders.
“Traders are expected to honour contracts, deliver goods as promised, pay on time, and present authentic documentation yet they often lack reliable information on who they are dealing with. This heightens the risk of fraud, non-payment, and disputes ultimately discouraging businesses from venturing into new markets,” said Rono.
However, Rono has noted that technology is increasingly bridging this trust gap. Artificial intelligence is allowing lenders to assess risk using alternative data, particularly for small and medium-sized enterprises (SMEs) without formal credit histories. At the same time, distributed ledger technologies are making shipping documents, certificates of origin and inspection reports tamper-proof while supply-chain visibility tools enable real-time tracking of goods.
Rono has pointed to Ecobank’s Single Trade Hub as an example of how digital infrastructure can support safer trade. The platform provides a secure digital marketplace where buyers and sellers can transact with confidence even without prior relationships.
“Our Trade Intelligence suite gives customers instant access to market data drawn from customs information and product classification tools across 133 countries. It has features such as import and export market classification, over 25,000 market and industry reports, customs duty calculators and universal customs codes which businesses can use to better assess opportunities, reduce compliance risks and optimise their supply chains,” added Rono.
In addition, Rono has cited that beyond financing, SMEs also require advisory services, compliance guidance and secure platforms for partner verification and payment settlement. This is because many operate in cash-intensive cycles that require upfront payments to suppliers and logistics providers, making non-financial support just as critical as credit.
He has emphasized the importance of trade fairs, industry forums and partnerships with chambers of commerce also play a role in strengthening trust networks in helping enterprises establish relationships that make cross-border trade viable.
Looking ahead, Rono has stressed that Africa’s trade ambitions particularly under the African Continental Free Trade Area (African Continental Free Trade Area) depends on deeper financial integration.
“Africa’s path toward meaningful trade integration begins with financial integration. The promise of AfCFTA will only be realised when enterprises can trade with confidence knowing payments will be honoured, partners verified and disputes resolved.”
According to Rono, Africa must reduce reliance on external actors to finance its trade by strengthening African-led financial institutions and systems.
“Africa’s economic transformation depends on trusted, digitally enabled African banks that understand the continent’s unique risks and opportunities. By building an African-led trade finance ecosystem, we can unlock liquidity, empower SMEs, retain more value locally, and accelerate Africa’s trade revolution driven by African institutions, African systems, and African ambition,” added Rono.
