By Roosevelt Ogbonna, Chief Executive Officer of Access Bank Plc, has called for deeper intra-African trade and stronger collaboration among governments, financial institutions, and businesses to unlock the continent’s economic potential.
Ogbonna made the remarks at the Africa Trade Conference 2026 held in South Africa, where policymakers, financial leaders, and industry stakeholders gathered to discuss strategies for expanding regional commerce and strengthening economic integration across Africa.
According to the Access Bank CEO, Africa continues to account for a relatively small share of global trade, while many trade corridors across the continent remain fragmented and underdeveloped.
“The reality is that Africa still controls a small share of global trade,” Ogbonna said, noting that although many businesses aspire to participate in cross-border trade, structural constraints continue to limit their ability to do so.
He explained that discussions at previous editions of the conference focused on building a stronger African trade ecosystem by encouraging cooperation across sectors and improving the availability of market intelligence.
“First, we said we would break the silos between policymakers, finance, and businesses. Secondly, we would build African trade on data, information, and analytics that allow businesses to make informed decisions,” he said.
Ogbonna emphasised that the 2026 conference builds on earlier conversations rather than restarting them, highlighting progress in areas such as the growth of cross-border brands, emerging value chains in agriculture and manufacturing, and the expansion of technology platforms improving payments and logistics.
However, he noted that significant challenges remain. Access to affordable financing continues to be limited for many businesses, while fragmented payment systems and infrastructure gaps increase the cost and complexity of cross-border trade.
“Payments remain fragmented as they move from one platform to the next, while infrastructure gaps create delays and increase costs in shipments across the continent,” he said.
He also pointed to the lack of reliable market information as a factor that limits trust between buyers and sellers operating across different African markets.
Despite these obstacles, Ogbonna urged stakeholders to ensure that discussions at the conference translate into practical solutions.
“Let us do more business with each other. Let us trust more in each other. Let us build an Africa that is not just open for business, but uniquely open for African business,” he said.
Intra-African Trade Lags Behind Other Regions
Also speaking at the conference, Kwabena Ayirebi, Managing Director of Banking Operations at African Export–Import Bank (Afreximbank), said intra-African trade remains significantly lower than in other regions of the world.
According to Ayirebi, trade within Africa currently accounts for roughly 15–17 percent of the continent’s total trade, compared with approximately 59 percent in Asia and over 60 percent in Europe.
He attributed the relatively low level of regional trade to factors including financing constraints, regulatory bottlenecks, and infrastructure gaps that slow the movement of goods and increase the cost of doing business across borders.
“Billions of dollars in trade finance demand go unmet every year,” he said, noting that risk perception among lenders often exceeds the actual risk due to limited market information and insufficient transparency.
Ayirebi added that Afreximbank has expanded its support for regional commerce, with about 32 percent of the bank’s financing portfolio currently directed toward intra-African trade.
The institution has also introduced payment and trade facilitation platforms aimed at improving cross-border transactions among African banks and businesses.
Meanwhile, Kennedy Mbekeani, Director-General for the Southern Africa region at the African Development Bank, highlighted the critical role of infrastructure in driving trade and regional integration.
Mbekeani said fragmented markets and underdeveloped infrastructure continue to constrain trade across the continent, stressing that investments in transport networks, energy systems, and logistics infrastructure are essential for supporting production and facilitating the movement of goods.
“Regional integration boosts economic growth by expanding markets and lowering trade barriers,” he said, noting that improved infrastructure would play a central role in enabling more efficient trade across African economies.
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