Access Bank Plc. has successfully hosted its inaugural Africa Trade Conference in Cape Town, South Africa, a pivotal event designed to accelerate intra-African trade and unlock the continent’s vast economic potential.
The event brought together policymakers, trade experts, and industry leaders from across Africa to address key challenges in the region’s trade dynamics and explore solutions to boost economic integration.
The conference tackled pressing issues such as limited access to capital, market information gaps, trust deficits among trading partners, and the urgent need for modernised trade infrastructure.
Roosevelt Ogbonna, Managing Director and CEO of Access Bank, delivered the opening remarks, underscoring the need for financial sector collaboration to facilitate seamless access to capital, which he views as a fundamental driver of business growth in Africa.
“We must invest in the initiatives that ensure that we can bring businesses together, forge trust, and create the connections necessary for trade,” Ogbonna stated.
He further emphasized that the perception of African products must change, advocating for a future where “Made in Africa” products are seen as equal to any global product.
Ogbonna called for a shift in mindset, urging Africans to “buy Africa, be proud to wear Africa, and invest in Africa” to propel the continent into the next generation of economic development.
With Africa’s population projected to grow to 2.5 billion by 2050, the African Continental Free Trade Area (AfCFTA) stands as one of the most significant trade initiatives in the world.
The AfCFTA aims to create a unified market that can enhance industrialization, boost employment, and strengthen Africa’s competitiveness on the global stage. H.E. Wamkele K. Mene, Secretary-General of AfCFTA, emphasized the importance of fully operationalizing the trade agreement to unlock its potential.
“The AfCFTA is not just a trade agreement; it is an instrument for Africa’s industrialization and economic sovereignty,” Mene said. He highlighted the need for businesses, especially SMEs and women-led enterprises, to gain access to the information, capital, and platforms needed to thrive in a unified African market.
A significant portion of the discussions at the conference centered around trade finance and the role of African financial institutions in supporting cross-border transactions.
Kanayo Awani, Executive Vice President of Afreximbank, spoke about the bank’s efforts to facilitate trade finance solutions that will help African businesses expand beyond their borders.
Awani specifically highlighted the Pan-African Payment and Settlement System (PAPSS), a financial instrument developed to streamline transactions and reduce reliance on foreign currencies.
“At Afreximbank, we understand that trade finance is the lifeblood of economic development,” Awani said. She also pointed to the role of the institution in investing in infrastructure projects that are critical to facilitating intra-Africa trade.
The conference featured high-level panel discussions with experts from leading institutions, including Deutsche Bank, Traydstream, and the World Trade Organization (WTO).
Panelists discussed how infrastructure improvements, digital solutions, and policy harmonization could drive economic growth across the continent. Dr. Marc Auboin of the WTO shared insights into how digital transformation is reshaping Africa’s supply chains, while Tanya Dos Santos-Ford of GIBS Business School led a session on sustainable trade practices, calling for environmentally responsible trade solutions.
The conference also recognized outstanding contributions to the African trade landscape during an awards ceremony.
Tradepass Commodities Limited (Ghana), Chemaf International FZE (DR Congo), and Harvest Group of Companies (Zambia) were honored for their impact on SMEs and women-led enterprises. Bulkstream Limited (Kenya) and Electricidade de Moçambique (Mozambique) received awards for advancing intra-African trade, while Tennant Metals South Africa Pty Ltd was recognized as an Emerging Leader in Trade.
Other prestigious awards included the Climate Finance Leadership Award presented to the International Finance Corporation (IFC) and the Champion of Intra-African Trade Award given to Afreximbank.
The African Development Bank (AfDB) and Africa Finance Corporation (AFC) were celebrated for their roles in economic transformation and infrastructure finance, respectively.
The African Icon Award was presented to IHS Group, Dangote Industries Limited, and MTN Group Limited for their exceptional contributions to Africa’s economic progress.
In closing, Seyi Kumapayi, Executive Director for African Subsidiaries at Access Bank, reaffirmed the institution’s commitment to supporting trade finance, regional integration, and the creation of policies that foster a thriving business environment across Africa.
The conference concluded with a renewed sense of purpose and optimism for the future of intra-Africa commerce, with participants from across the continent pledging to continue working together to unlock Africa’s trade potential
