The ATEX, a business-to-business (B2B)/ business-to-government (B2G) e-commerce platform, which was launched during the official opening of the 54th Conference of African Ministers of Finance, Planning, and Economic Development earlier this year, in the presence of Senegal’s president, Macky Sall, has now reached the milestone of 500 onboarded suppliers and buyers, accelerating its user sign ups massively the last couple of months.
The platform has originated over US$40 million in deals at different stages of financing in its few months of starting operations. After being launched in over 25 countries, it has been expanding rapidly with a focus on immediate crisis needs such as fertilizer and grains, while also longer term opportunities with the digitalization of the supply chain.
A platform playing a major role in the current disturbed continent
The platform exists to facilitate the objectives of the AfCFTA and increase intra-African trade. With the current crisis in Ukraine, the ATEX platform is playing an integral role in solving the food and agricultural security issues currently faced on the continent.
This is by generating connectedness and market power through pooled procurement and using technology to power trade across the continent. With a hub not only for finding partners and trade finance solutions but also payment solutions, and logistics providers.
“ATEX will become the largest B2B/ B2G platform for trade in Africa. Leveraging technology and innovative solutions to bring transparency and efficiency to the supply chain on the continent,” said Emeka Uzoigwe, Ag Director of Strategy and Innovation AFREXIMBANK.
At scale, ATEX will be the ecosystem for trade in Africa. Facilitating both B2B and B2G trade across the continent, as an integral part of the African Trade Gateway being implemented to support AfCFTA implementation.