On September 4, the Hub signed an MOU with FROMTU, a new business-to-business platform that endeavors to simplify trade with and within Africa. Fromtu is owned and operated by the global shipping and logistics giant, Maersk Group.
The Hub will provide FROMTU with market intelligence on trade and business opportunities specific to the platform, including information on East African companies seeking trade and export opportunities and on international trade regulations and standards. The facilitation of business linkages is integral in the Hub’s work in promoting intraregional and international trade, particularly under the African Growth and Opportunity Act.
“While traditionally the development community engages with private firms to take on subsidized programs and make them sustainable, in this particular case the Hub is merely providing technical support to a private sector led initiative, simply strengthening an already sustainable innovation. We could not be happier to partner with FROMTU in this groundbreaking initiative,” said Juan Estrada, the Hub’s Chief of Party
The goal of FROMTU is to grow trade. The Hub will support FROMTU in facilitating and setting up meetings with companies looking to utilize the platform. The partnership is in line with the Hub’s goal of connecting East African and U.S. businesses to attract investment that drives economic growth and transforms the East African private sector into vibrant global trading partners.