The Group Managing Director of , , has called on African leaders, investors, and businesses to strengthen collaboration in order to accelerate trade within the continent and unlock Africa’s vast economic potential.
Ogbonna made the call while welcoming participants to the held in , , stressing the need to dismantle structural barriers that continue to limit intra-African trade.
Africa Still Underperforming in Global Trade
According to Ogbonna, Africa remains a minor player in global trade despite its large population, natural resources, and expanding markets.
He noted that many trade corridors across the continent are still fragmented, making it difficult for businesses—particularly small and medium-sized enterprises—to expand beyond national borders.
Speaking at the conference, he said the aim is to promote discussions that will translate into practical solutions for improving trade integration across Africa.
Key Barriers Hindering African Trade
Ogbonna explained that discussions from the previous edition of the conference highlighted several critical obstacles preventing smooth trade across African markets.
Some of the major challenges include:
- High cost of financing for businesses
- Fragmented cross-border payment systems
- Poor infrastructure and logistics networks
- Limited access to reliable trade information
He added that although technological advancements have started improving payment systems and logistics in some regions, the progress has been uneven across the continent.
Technology and Policy Reforms Key to Progress
The Access Bank chief also emphasised the increasing role of digital platforms in simplifying cross-border payments and improving market access for African businesses.
However, he stressed that meaningful progress will require coordinated policy reforms among African governments.
“Many of these improvements are concentrated in a few markets, and that is not sufficient if Africa is to fully unlock the potential of its internal trade,” Ogbonna said.
Call for Deeper Regional Integration
Ogbonna urged policymakers and financial institutions to work together to create an enabling environment that supports businesses seeking to trade across borders.
He noted that deeper economic integration could help African countries move beyond fragmented markets and build stronger trade ecosystems capable of driving sustainable growth.
Experts say strengthening intra-continental trade frameworks such as the could significantly boost economic development across the continent.
