THE African Export-Import Bank (Afrex­imbank) has pledged fresh efforts to boost Africa’s automotive sector and ease trade bottlenecks that have long hampered intra-African trade.

Speaking on the bank’s initia­tives at the Sovereign Business Engagement event as part of the Intra-African Trade Fair (IATF2025) in Algiers, Algeria, yesterday, Dr Gainmore Zanam­we, Afreximbank’s Director of Trade Facilitation and Investment Promotion, said the Bank was positioning itself as a “listening bank” committed to understand­ing the needs of clients and tailoring solutions, even when existing tools fall short.

This initiative, linked to Afreximbank’s African Sub-Sov­ereign Governments Network (AfSNET), aims to increase grassroots involvement in intra-African trade, decentralise economic growth, and strengthen sub-sovereign governance across the continent.

“The automotive industry is a high priority,” Zanamwe said, noting that Afreximbank had already established a $1 billion fa­cility to support states to develop the sector.

He stressed that the goal was to encourage new vehicle production, reduce imports of second-hand cars, and create jobs across the continent.