The Chief Executive Officer of the Ghana Tourism Authority, Maame Efua Houadjeto, has been enstooled as the Safohen of the Bentsir No. 1 Asafo Company in Cape Coast under the stool name Nana Efua Kouguah Nshiraba II.

The solemn yet colourful traditional ceremony, held in Cape Coast in the Central Region, attracted hundreds of people from all walks of life, including traditional authorities, government officials, tourism stakeholders, opinion leaders, Asafo members, family, friends and residents, who gathered to witness the historic occasion.

Rich in symbolism, pageantry and deep cultural significance, the ceremony showcased Ghana’s vibrant cultural heritage and traditions. The atmosphere was filled with traditional drumming, dancing, Asafo displays and customary rites that reflected the enduring legacy and identity of the Asafo institutions in the Central Region.

The installation of Nana Efua Kouguah Nshiraba II is being viewed as both recognition of leadership and service, and a call to greater responsibility towards community development, unity and cultural preservation.

As Safohen of the Bentsir No. 1 Asafo Company, Nana Efua Kouguah Nshiraba II assumes the responsibility of providing leadership and guidance to the Asafo Company, promoting peace and unity among members, preserving customs and traditions, supporting community mobilisation and championing development initiatives within the traditional area.

The role of a Safohen also includes serving as a custodian of the values, discipline and identity of the Asafo Company, while strengthening the institution’s contribution to social and cultural advancement.

The ceremony further highlighted the critical role of traditional institutions in preserving Ghana’s heritage and promoting cultural tourism. It also reaffirmed the strong connection between tourism, culture and community identity.

Speaking during the ceremony, several dignitaries praised the Ghana Tourism Authority CEO for her dedication to public service, leadership and commitment to promoting Ghana’s culture and tourism sector.

Many expressed confidence that her elevation to the revered traditional position would further strengthen efforts towards cultural preservation and national development.

The event stood as a celebration of Ghanaian identity: solemn in tradition, colourful in display, and deeply rooted in culture and heritage.

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Ecobank Group and the African Continental Free Trade Area (AfCFTA) Secretariat have signed a landmark Memorandum of Understanding (MoU) to accelerate intra-African trade and close the continent’s widening trade finance gap – with a sharp focus on SMEs, women-led businesses, and young entrepreneurs.

The agreement, announced through a press release on Thursday, establishes a strategic framework to support the implementation of the AfCFTA, which aims to create an integrated single market of more than 1.3 billion people with a combined GDP of approximately $3.4 trillion.

Building on a $3bn pledge

The MoU builds directly on Ecobank’s recent announcement at the Africa-Forward Summit in Nairobi, where the pan-African lender unveiled a $3 billion trade finance commitment to be deployed over the next three years in partnership with Development Finance Institutions (DFIs).

Under the new partnership, the AfCFTA Secretariat will help channel that commitment toward businesses that have long been locked out of traditional trade finance – from large corporates to small-scale cross-border traders.

“Access to trade and affordable finance remains critical to unlocking the full potential of the AfCFTA,” said H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat.

“Through this partnership with Ecobank, we are strengthening the support available to African businesses, particularly SMEs, women-led enterprises, and young entrepreneurs, to enable greater participation in intra-African trade and value chains across the continent.”

Catalyst for AfCFTA

For Ecobank, which operates in 34 African markets, the agreement formalizes a decades-long ambition.

“For 40 years, Ecobank has been built on a singular vision: to advance the economic development and financial integration of Africa,” said Michael Larbie, Group Executive, Corporate and Investment Banking at Ecobank.

“With our unmatched presence across 34 African markets and our digital capabilities, we are uniquely positioned to serve as a catalyst for the AfCFTA. This MoU formalises our commitment to connecting African businesses to the markets, finance, and knowledge they need to thrive.”

What the partnership will do

Under the MoU, the two institutions will focus on six priority areas:

• SME capacity building – equipping African businesses with tools and networks to seize AfCFTA opportunities.
• Closing the trade finance gap – joint promotion of Ecobank’s Ellevate Program, which targets women-led businesses in both formal and informal sectors.
• Single Market Trade Hub – positioning Ecobank’s trade platform to reduce information asymmetry among traders across the continent.
• Business referrals – leveraging the AfCFTA Trading Companies database and Ecobank’s network to connect buyers and sellers.
• Policy advocacy – joint engagement with regulators to eliminate non-tariff barriers and cross-border payment friction.
• Thought leadership – co-curating high-level panels and business forums on AfCFTA protocols.

A defining moment

The MoU arrives at a critical juncture. While the AfCFTA became operational in 2021, implementation has been slowed by payment bottlenecks, regulatory mismatches, and limited access to affordable trade finance – particularly for smaller players.

By combining the AfCFTA Secretariat’s mandate with Ecobank’s continental footprint and $3 billion commitment, the partnership is expected to boost participation of African businesses in intra-African trade and accelerate the objectives of the African Union’s Agenda 2063, “The Africa We Want.”

No timeline for the rollout of specific programs under the MoU was immediately disclosed, but both parties said implementation would begin immediately.

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