CIB Strengthening Its Role in Africa to Boost Intra-Regional Trade

Africa is entering a new era of economic integration, driven by the African Continental Free Trade Area (AfCFTA), which became operational in 2021. Connecting 1.3 billion people across 55 countries, AfCFTA creates the largest free trade zone in the world. In this evolving landscape, Commercial International Bank (CIB) is playing a pivotal role in supporting cross-border trade and providing tailored financial solutions to Egyptian businesses—particularly across East Africa.

Expanding Into Sub-Saharan Africa: Kenya as a Strategic Gateway

CIB’s entry into sub-Saharan Africa began in April 2020 with the acquisition of a 51% stake in Mayfair Bank, Kenya. By January 2023, the bank had completed a full acquisition. Kenya’s political stability, macroeconomic strength, and regional partnerships position it as East Africa’s industrial and commercial hub.

CIB Kenya focuses on digital banking and trade finance, especially along the Egypt–Kenya corridor. It has introduced innovative lending models, including cash flow-based lending, which departs from traditional asset-backed financing—offering greater accessibility for small and medium-sized enterprises (SMEs).

Tailored Financial Products for Trade Support

Trade finance solutions such as cash flow lending, letters of guarantee, and credit facilities help mitigate risk and facilitate international operations. Through CIB Kenya, Egyptian businesses gain local support to navigate regulatory frameworks and build cross-border connections.

Strengthening Egypt–Africa Trade Relations

In March 2024, CIB sponsored the Kenya–Egypt Business Forum, connecting 40 Egyptian companies with local firms across sectors such as tourism, construction materials, and healthcare—strengthening economic ties through partnership-building.

Further enhancing trade collaboration, the bank partnered in August 2024 with Egypt’s Chemical & Fertilizers Export Council (CEC), one of the country’s largest export councils. This initiative aligns with Egypt’s national strategy to reach $100 billion in annual exports. The collaboration includes joint workshops and financial services aimed at increasing exporters’ competitiveness.

A Forward-Looking Vision for African Markets

CIB’s growing presence in Africa has secured a significant share of Egypt–Africa trade flows. By leveraging its expertise and data-driven strategies, the bank continues to build robust financial bridges across the continent. As regional markets evolve, CIB remains focused on exploring new entry points and growth opportunities across Africa.