CIB signs MoU with OtroVato to boost domestic, cross-border trade

2026-03-07 - 16:33

Commercial International Bank (CIB) has signed a memorandum of understanding with OtroVato, a subsidiary of Orascom Investment Holding, to establish a strategic collaboration aimed at supporting exporters, buyers, suppliers and distributors through integrated trade and banking solutions, with a particular focus on African markets. The agreement reflects a shared vision between the two parties to promote the growth of intra-African trade and enable companies, particularly small and medium-sized enterprises, to access structured financing solutions and advanced banking services that support stable economic growth and strengthen opportunities for regional expansion. The MoU seeks to support companies across various sectors by offering integrated solutions that include trade finance, payment services and cross-border banking facilities. These offerings are designed to help businesses expand their operations, enhance the efficiency of their commercial activities, support the development of regional supply chains and strengthen economic integration across African markets. OtroVato operates as a business-to-business (B2B) trade enablement platform connecting buyers, suppliers and manufacturers through an integrated digital ecosystem that combines sourcing solutions, logistics services and market access capabilities. The platform aims to simplify cross-border trade and accelerate the flow of goods across the African continent by providing efficient supply chain solutions, improving product readiness and enabling companies to expand into new markets in line with sustainability standards. This approach supports the growth of intra-African trade and contributes to deeper regional economic integration. Under the agreement, CIB will serve as the preferred banking partner for OtroVato’s network of suppliers, manufacturers and buyers, providing a comprehensive suite of financial solutions designed to support both domestic and cross-border trade. The bank will leverage its banking expertise and regional network, including its presence in Kenya, to strengthen its ability to support commercial operations across the African continent. The partnership reflects CIB’s ongoing commitment to promoting regional trade growth and developing innovative banking solutions that meet the evolving needs of businesses and support their expansion into new markets, contributing to stronger economic activity and development. Soha Abou Zikry, Head of Institutional Relations and Direct Investment Group at CIB, said: “This partnership reflects the bank’s strategy to expand services that support regional trade while providing integrated banking solutions tailored to companies operating in African markets. At CIB, we are committed to developing a comprehensive ecosystem of banking and trade services that enables our clients to manage their commercial operations more efficiently, while offering flexible financing solutions and advanced banking services that support the growth of their businesses.” She added: “Kenya in particular represents one of the most promising markets in Africa, offering significant opportunities for growth and expansion across trade and investment activities. CIB is keen to strengthen its regional presence and further develop its cross-border banking services to support trade flows across the continent in line with the evolving needs of its clients.” “Through our collaboration with OtroVato, we aim to provide practical and integrated solutions that support exporters, suppliers, buyers and distributors, helping them access financing and manage payments more efficiently. This will enable them to expand into new markets with greater confidence and reinforces the bank’s role as a trusted banking partner supporting business and trade growth across Africa,” she added. For his part, Haitham Salama, Chief Executive Officer of OtroVato, said the partnership represents an important strategic milestone in the company’s efforts to simplify and expand cross-border trade across the African continent. “By combining the banking and financial expertise of CIB with the advanced digital infrastructure offered by OtroVato, we are working to build a more efficient and inclusive ecosystem that empowers exporters, supports the growth of small and medium-sized enterprises and opens new horizons for investment and trade opportunities across the continent,” he said. Salama added that OtroVato’s role goes beyond facilitating trade transactions. “We are working to establish an integrated model for organised and sustainable trade flows by connecting buyers, suppliers, manufacturers and distributors through a comprehensive platform covering sourcing, logistics, market access and financial enablement.” “Access to structured financial solutions is one of the key drivers of trade expansion in Africa. Through this collaboration, we aim to bridge the gap between trade and finance, reduce operational challenges and enable companies to expand beyond their domestic markets with greater speed, efficiency and confidence. This partnership also strengthens our vision of positioning OtroVato as a key gateway for intra-African trade and an active contributor to the development of regional value chains,” he said.