Casablanca, December 5, 2022. Atex, a business-to-business (B2B)/intergovernmental (B2G) e-commerce platform, was launched mid-year during the 54th Conference of African Ministers of Finance, Planning and Economic Development (CoM2022 ) started. . It was in the presence of Senegalese Head of State and President of the African Union, Macky Sall. ATEX has reached the milestone of 500 registered suppliers and buyers. This has helped massively speed up user registration over the last few months.
The platform generated more than $40 million in deals at various stages of funding in just a few months of operation. Having launched in more than 25 countries, it has grown rapidly, focusing on immediate needs in times of crisis such as fertilizers and grains, but also on the longer-term opportunities associated with supply chain digitization.
Atex plays an important role on a troubled continent
The platform was developed to support the goals of the African Continental Free Trade Area (Zlecaf) and increase intra-African trade. With the current crisis in Ukraine, the Atex platform plays a crucial role in addressing the food and agricultural security issues the continent is currently facing.
It builds connections and builds market power by pooling purchases and using technology to encourage trade across the continent.
The hub offers the possibility to find trade finance partners and solutions, but also payment solutions and logistics providers.
“By using technology and innovative solutions to bring transparency and efficiency to the continent’s supply chain, Atex will become the largest B2B/B2G trading platform in Africa,” said Emeka Uzoigwe, Chief Strategy and Innovation at Afreximbank.
Ultimately, Atex will be at the heart of the trading ecosystem in Africa. As an integral part of the African Trade Gateway digital platform set up to support the implementation of Zlecaf, it will facilitate business-to-business and interstate trade on the continent.
Africa Trade Exchange (Atex) is a B2B and B2G platform that enables the bulk purchase of commodities to ensure countries’ access to scarce resources in a transparent manner. The aim is to small, medium and large companies African companies gain access to new markets in Africa, making it easier to optimize their supply chains to accelerate economic growth.
Atex is a digital business platform connected to the digital ecosystem that supports the implementation of the Zlecaf Agreement.
Atex will help unlock the development potential of e-commerce and digitization, particularly by facilitating small and medium-sized enterprises (SMEs) access to new markets. This will strengthen intra-African trade and trading position
Africa in the global market and supports African companies in optimizing their supply chains and in continuous growth. Atex is connected to the broader digital ecosystem that supports the Zlecaf implementation.