Cape Town, South Africa – Access Bank PLC successfully hosted the inaugural Africa Trade Conference, bringing together key industry leaders, policymakers, and trade experts to address critical challenges hindering intra-African trade. The event served as a platform to explore innovative solutions aimed at unlocking the continent’s economic potential.
Tackling Barriers to Trade
The conference addressed pressing issues such as limited access to capital, market information gaps, trust deficits between trading partners, and the need for modernized trade infrastructure. In his opening remarks, Roosevelt Ogbonna, Managing Director/CEO of Access Bank, underscored the urgency of collaboration within the financial sector to ease access to capital and create an environment where African businesses can thrive on a global scale.
“We must invest in initiatives that unite businesses, foster trust, and establish strong trade networks. It is time to change the narrative that ‘Made in Africa’ is inferior. We must proudly buy, wear, and invest in Africa to propel the continent into the next generation,” Ogbonna stated.
AfCFTA: A Game Changer for Africa’s Economy
With Africa’s population expected to reach 2.5 billion by 2050, the African Continental Free Trade Area (AfCFTA) is poised to reshape the continent’s trade dynamics. H.E. Wamkele K. Mene, Secretary-General of AfCFTA, emphasized the need for full implementation of the agreement to unlock its immense benefits.
“AfCFTA is more than a trade agreement, it is Africa’s pathway to industrialization and economic sovereignty. By dismantling trade barriers and providing businesses with access to capital and markets, we can create a competitive and self-sufficient continent,” Mene asserted.
Financing Africa’s Trade Revolution
Kanayo Awani, Executive Vice President of Afreximbank, reinforced the significance of financing mechanisms to support African businesses as they expand across borders. She highlighted Afreximbank’s efforts in trade finance solutions, particularly the Pan-African Payment and Settlement System (PAPSS), designed to streamline cross-border transactions while reducing reliance on foreign currencies.
“Trade finance is the backbone of economic growth. Without it, businesses cannot scale, industries cannot innovate, and Africa cannot fully harness its trade potential,” Awani noted.
Experts Explore Pathways to Economic Integration
High-level panel discussions featured experts from leading institutions such as Deutsche Bank, Traydstream, OWP Partners, and Fiducia International, who examined strategies for overcoming trade barriers. Key topics included the role of infrastructure development, digital solutions, and policy harmonization in driving Africa’s economic growth.
Dr. Marc Auboin from the World Trade Organization (WTO) shared insights on digital transformation’s role in reshaping Africa’s supply chain, while Tanya Dos Santos-Ford from GIBS Business School led discussions on sustainable trade practices for long-term economic stability.
Recognizing Excellence in Intra-African Trade
The conference concluded with an awards ceremony honoring organizations and individuals making significant contributions to intra-African trade. Notable awardees included:
Trade Excellence Awards: Tradepass Commodities Limited (Ghana), Chemaf International FZE (DR Congo), Harvest Group of Companies (Zambia)
Intra-African Trade Advancement: Bulkstream Limited (Kenya), Electricidade de Moçambique (Mozambique)
Emerging Leader in Trade: Tennant Metals South Africa Pty Ltd
Financial Leadership: International Finance Corporation (IFC) – Climate Finance Leadership Award
Champion of Intra-African Trade: Afreximbank
Economic Transformation Awards: African Development Bank (AfDB), Africa Finance Corporation (AFC)
Prestigious African Icon Award: IHS Group, Dangote Industries Limited, MTN Group Limited
Commitment to Africa’s Economic Future
As the event wrapped up, Seyi Kumapayi, Executive Director of African Subsidiaries at Access Bank, reaffirmed the bank’s dedication to supporting trade finance, fostering regional integration, and advocating policies that create an enabling business environment across Africa.
With Access Bank leading the charge, the Africa Trade Conference set a strong foundation for fostering collaboration, driving economic transformation, and positioning Africa as a formidable player in global trade.
About Access Bank PLC
Access Bank PLC, a subsidiary of Access Holdings PLC, is a leading full-service commercial bank operating across 24 countries and three continents. With a strong presence in Africa and Europe, the bank serves over 60 million customers and remains committed to driving sustainable economic growth through innovative financial solutions.
