The African Export and Import Bank (Afreximbank) has mobilised over $2 billion to support the development of industrial zones across Africa, as part of efforts to move the continent from exporting raw materials to producing higher-value manufactured goods.

The financing, secured in partnership with industrial zone developer Arise IIP, is supporting industrial infrastructure and businesses operating within special economic zones, with six industrial parks already operational and another 15 in the pipeline.

Speaking at the Forum on Investment in Special Economic Zones in Cotonou, Benin, the Executive Vice President in charge of Intra-African Trade and Export Development at Afreximbank, Kanayo Awani, said Africa needed coordinated investments across the production chain to convert its agricultural and mineral resources into finished products.

She said the bank’s approach combines infrastructure financing, support for enterprises operating within industrial zones and mechanisms to connect locally manufactured products with domestic, regional and international markets.

Awani cited the Glo-Djigbé Industrial Zone (GDIZ) in Benin as an example of how industrialisation could increase local value addition and strengthen manufacturing capacity.

Before the establishment of the zone, Benin processed less than one per cent of its cotton locally. The facility now processes about 40,000 tonnes of cotton, supporting an integrated production chain that transforms the raw material into finished garments.

The development illustrated the potential of special economic zones to expand domestic processing, create manufacturing opportunities and retain a greater share of export earnings within African economies.

However, Awani said replicating the model across the continent would require reliable financing, sustained market demand and support for businesses at different stages of production.

She said the bank provides project preparation support, equipment financing, working capital, guarantees and equity investments through its Fund for Export Development in Africa (FEDA).

She said the bank also deployed its Africa Buyers Programme and the Africa Trade and Distribution Company to help manufacturers secure orders, establish distribution channels and reach buyers in target markets.

In 2025, buyers connected with the GDIZ signed contracts valued at $6 million, highlighting the role of market access and trade facilitation in supporting industrial production.

Awani disclosed that the Bank was also in advanced negotiations to establish an office within the GDIZ to bring financing solutions and trade facilitation services closer to businesses operating in the industrial zone.

The proposed office is expected to strengthen the bank’s engagement with manufacturers and improve access to services required to expand production and trade.

For African economies seeking to diversify exports and reduce dependence on unprocessed commodities, industrial zones offer a platform to link infrastructure development with manufacturing, employment generation, and regional trade.

Afreximbank’s strategy is aimed at converting investor interest into productive enterprises capable of creating jobs, expanding intra-African trade and retaining more economic value on the continent.

The effort also aligns with the broader objectives of the African Continental Free Trade Area (AfCFTA), which seeks to deepen regional economic integration by expanding trade in goods and services and strengthening African production networks.

For the model to deliver lasting gains, however, she said industrial zones must attract sustained investment, maintain reliable infrastructure, develop competitive local supply chains and secure markets for the goods produced within them.