Latest news

Access Bank pushes for smoother intra-African trade flows


The Group Managing Director and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, issued a clarion call for urgent, collaborative action to dismantle the structural bottlenecks that continue to impede commerce across the continent.

Addressing an assembly of policymakers, financiers, and business leaders, Mr Ogbonna emphasised that while Africa possesses immense market potential, its actual participation in global trade remains constrained by fragmented corridors and systemic inefficiencies.

“The reality is that Africa still controls a small share of global trade. The corridors are still fragmented and more aspirational than functional, and too many small businesses that aspire to trade across Africa remain constrained,” Ogbonna stated during his opening remarks.

The conference, themed ‘Turning Vision into Velocity: Building Africa’s Trade Ecosystem for Real-World Impact’, serves as a critical follow-up to the inaugural 2025 gathering. Ogbonna highlighted that the mission is no longer about identifying problems but about executing solutions. He noted encouraging progress in emerging value chains across agriculture, manufacturing, and services, alongside the rise of digital platforms that are increasingly reducing friction in payments and logistics.

However, he warned that these gains are currently uneven, necessitating a more unified approach. “We have seen value chains emerging across agriculture, manufacturing and services, and we are seeing African brands crossing borders and building a global presence,” Ogbonna added.

Echoing the need for a more integrated approach, the Director-General for Southern Africa at the African Development Bank, Kennedy Mbekeani, underscored the vital role of infrastructure in realising the continent’s economic objectives. He urged a strategic pivot toward mobilising private capital to bridge the substantial funding gap required for large-scale infrastructure projects.

“The mobilisation of private capital remains crucial as many African governments are constrained by limited fiscal space and overstretched balance sheets,” Mbekeani stated. He further emphasised that while regulatory harmony is essential, it must be supported by physical and digital connectivity to ensure the benefits of regional integration are realised by all member nations.

The consensus from the conference suggests that if Africa can successfully shift from a collection of fragmented economies to a connected, land-linked trade bloc, it could significantly increase intra-continental trade and bolster its influence on the global stage.

Tags :

Related Posts

Must Read

Popular Posts

The Battle for Africa

Rivals old and new are bracing themselves for another standoff on the African continent. By Vadim Samodurov The attack by Tuareg militants and al-Qaeda-affiliated JNIM group (Jama’a Nusrat ul-Islam wa al-Muslimin) against Mali’s military and Russia’s forces deployed in the country that happened on July 27, 2024 once again turned the spotlight on the activities...

I apologise for saying no heaven without tithe – Adeboye

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...