Post date
Feb 20, 2025
Arnaud Levasseur: A collaborative, sustainable, and Africa-centric ESG approach for long-term economic resilience and inclusive growth
At the Africa-MENA Roundtable during the MENA Bank to Bank Forum, I had the privilege of sharing a roundtable with key African banking leaders to engage in meaningful discussions on regional collaboration, with a strong focus on enhancing the Trade Corridor between the Middle East and Africa.
Discussions focused on key challenges, including infrastructure limitations and widening financial gaps, while also exploring the role of technology in trade finance and payments as a means to enhance efficiency and accessibility for businesses across the continent. However, one of the most pressing concerns remains the geopolitical, currency, and regulatory risks associated with cross-border trade. Overcoming these barriers requires closer collaboration between African banks and policymakers to establish more resilient financial frameworks and unlock trade finance opportunities.
There was a clear consensus that ESG in trade finance must be redefined to reflect Africa’s realities. Today, the continent accounts for 18% of the global population but represents only 2-3% of world trade. By 2035, Africa will have a larger working population than China, reinforcing its position as a key player in global trade. With vast natural resources and untapped potential, Africa must take a proactive role in shaping its trade finance ecosystem.
A more collaborative, sustainable, and Africa-centric approach to ESG will not only empower the continent’s young and dynamic entrepreneurs but also drive long-term economic resilience and inclusive growth. By bridging the trade finance gap with innovation and strategic partnerships, we can drive meaningful change and ensure Africa plays its rightful role in the global economy.
These efforts align closely with the significant initiatives spearheaded by the BAFT Africa Council, which continues to champion transformative dialogue and partnerships for the continent. Similarly, the impactful contributions of Rebecca Harding, Independent Trade Economist with the ITFA ESG working group and Duarte Pedreira, Trade Financier, with the ITFA Trade Finance COP are advancing the integration of ESG principles into African trade finance, fostering an inclusive and sustainable trade ecosystem.
Arnaud Levasseur
Executive Vice President - Global Transaction Banking
Global Trade Solutions, MCB Group