Abidjan, Côte d’Ivoire – May 14, 2025: Leaders from across Africa gathered at the Africa CEO Forum to emphasize the role of private sector-led growth in accelerating trade and market integration. Themed “Fast-tracking African Integration: The Private Sector Imperative,” the session stood out as a major highlight of the two-day forum in Abidjan.
Roosevelt Ogbonna, Managing Director/CEO of Access Bank, joined Wamkele Mene, Secretary General of the AfCFTA, and Samaila Zubairu, President & CEO of Africa Finance Corporation (AFC), in a forward-looking conversation. Together, they explored opportunities and challenges facing Africa amid shifting global trade dynamics.
The speakers agreed that Africa’s transformation depends on developing regional value chains and scaling intra-African trade. They also stressed the importance of strengthening financial systems and infrastructure to support integration.
Ogbonna encouraged African countries to embrace their strengths and reframe the continent’s narrative.
“Years ago, if you told someone something was made in China or Taiwan, it was often seen as inferior,” he said. “Fast forward 30 or 40 years, and now ‘Made in China’ is a symbol of quality, while ‘Made in Taiwan’ commands global respect. What changed? These countries built strong domestic markets that helped them scale, develop skills, and innovate. Africa is no different. We have abundant raw materials, a youthful population, and fertile land. There is no reason we can’t become the powerhouse we’re meant to be.”
He continued: “Africa has what it takes to win. My message remains the same as it was during our inaugural Africa Trade Conference in South Africa: Buy Africa. It’s not inferior.”
Addressing Barriers and Financing the Future
Mene and Zubairu backed Ogbonna’s remarks. Mene highlighted the AfCFTA’s progress through tools like the e-Tariff Book and the Adjustment Fund. Zubairu emphasized the need for aligned public and private investments to close infrastructure gaps and achieve development goals.
The panel also addressed the challenges slowing intra-African trade. Inadequate logistics and poor transport systems remain major obstacles. However, the Pan-African Payments and Settlement System (PAPSS) could transform the landscape by enabling smoother, faster cross-border payments.
Ogbonna emphasized the private sector’s role, particularly in supporting micro, small, and medium-sized enterprises (MSMEs).
“Africa’s MSMEs are the backbone of its economy,” he noted. “But they face a $120 billion trade finance gap. Financial institutions must step up. We need to innovate and provide the liquidity these businesses need to grow.”
As Africa explores new trade and investment opportunities, Ogbonna’s closing message struck a chord: Now is the time to believe in Africa, invest in Africa, and unlock its full potential.
