AfCFTA, Quest Ghana sign US$5.2B digital trade corridor deal to boost intra-African commerce
The joint venture between the AfCFTA Secretariat and Quest Ghana will design, develop and operate the project.
AFRICA – The African Continental Free Trade Area Secretariat has signed a joint venture agreement with Ghana-based Quest Ghana Limited to establish a digital trade corridor worth US$5.17 billion, aimed at expanding intra-African commerce and reducing the cost of cross-border transactions.
The AfCFTA Digital Trade Corridor will develop a digital marketplace, an African Minerals and Commodities Exchange, and a continental interoperable payment system.
The agreement was signed in Accra on August 31, following a memorandum of understanding reached in March and the Seychelles government’s Cabinet approval in July.
Seychelles will provide sovereign support for the joint venture and host its headquarters in Victoria.
Addressing Payment and Trade Infrastructure Gaps
The initiative aims to address the fragmented payment and trade infrastructure that has made cross-border commerce more costly and complex. The AfCFTA Secretariat says payments for intra-African trade currently cost more than US$5 billion a year, a figure separate from the US$5.17 billion valuation attached to the digital corridor.
The proposed payment infrastructure will support interoperability across African markets, while the commodities exchange will provide digital trading, tracking and settlement services for minerals and other commodities.
The joint venture between the AfCFTA Secretariat and Quest Ghana will design, develop and operate the project.
Support for Small Businesses and Digital Trade Protocol
AfCFTA Secretary-General Wamkele Mene said the joint venture would provide digital infrastructure to support businesses trading across the continent, including micro, small and medium-sized enterprises.
In addition, the corridor is being established as part of implementing the AfCFTA’s Digital Trade Protocol.
The continental trade agreement entered into force in 2019 and brings together 55 African Union member states, creating a market of about 1.4 billion people and a combined GDP of approximately US$3.4 trillion.
However, the agreement does not replace national foreign-exchange systems. AfCFTA officials said national central banks will retain responsibility for setting exchange rates, while the proposed infrastructure will facilitate cross-border payments.
The parties have not announced a timetable for the corridor’s full rollout or provided details of the project’s ownership structure beyond the joint venture agreement.
This initiative adds digital infrastructure to the AfCFTA’s broader effort to transform a continental free-trade agreement into a more integrated market for goods, services and capital.
Finally, this collaboration marks a significant step towards integrating African markets through modern logistics and financial interoperability.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
