{"id":27179,"date":"2025-03-18T09:28:11","date_gmt":"2025-03-18T09:28:11","guid":{"rendered":"https:\/\/techandbiz.com.ng\/tab-backup\/?p=27179"},"modified":"2025-03-18T09:28:33","modified_gmt":"2025-03-18T09:28:33","slug":"access-banks-africa-trade-conference-ignites-new-era-of-intra-africa-commerce","status":"publish","type":"post","link":"https:\/\/techandbiz.com.ng\/tab-backup\/2025\/03\/18\/access-banks-africa-trade-conference-ignites-new-era-of-intra-africa-commerce\/","title":{"rendered":"Access Bank\u2019s Africa Trade Conference Ignites New Era of Intra-Africa Commerce"},"content":{"rendered":"

Access Bank PLC (www.AccessBankPLC.com<\/a>) successfully hosted the inaugural Africa Trade Conference in Cape Town, South Africa, bringing together industry leaders, policymakers, and trade experts to drive solutions for accelerating intra-African trade and unlocking the continent\u2019s economic potential. The conference tackled critical challenges, including limited access to capital, market information gaps, trust deficits between trading partners, and the urgent need for modernised trade infrastructure.<\/p>\n

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Roosevelt Ogbonna, Managing Director\/CEO of Access Bank, delivered the opening remarks, setting the tone for discussions by highlighting the critical barriers hindering trade across Africa. He emphasised the urgent need for financial sector collaboration to facilitate seamless access to capital and foster a business environment where African enterprises can scale and compete globally.<\/p>\n

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\u201cWe must invest in the initiatives that ensure that we can bring businesses together, forge trust, and create the connections necessary for trade. In doing so, we must stamp out the narrative that ‘Made in Africa’ is inferior to any product made anywhere else in the world. We must buy Africa, be proud to wear Africa, and invest in Africa because that is what the continent needs to leap forward into the next generation,\u201d<\/em> Ogbonna stated.<\/p>\n

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With Africa\u2019s population projected to surge to 2.5 billion by 2050 from 1.2 billion, the African Continental Free Trade Area (AfCFTA) stands as the most significant free trade initiative since the formation of the World Trade Organisation. By fostering economic integration, AfCFTA has the potential to reshape trade dynamics across the continent, creating a unified market that enhances industrialisation, boosts employment, and strengthens Africa\u2019s global competitiveness. Recognising this transformative opportunity, H.E. Wamkele K. Mene, Secretary-General of AfCFTA, emphasised the urgency of fully implementing the agreement to unlock its immense benefits.<\/p>\n

 <\/p>\n

“The AfCFTA is not just a trade agreement; it is an instrument for Africa\u2019s industrialisation and economic sovereignty. It is a tool that will enable us to break down historic trade barriers and build an Africa that is self-sufficient, competitive, and prosperous. But for this to happen, we must commit to operationalising the agreement fully, ensuring that businesses, particularly SMEs and women-led enterprises, have access to the information, capital, and platforms they need to thrive,\u201d<\/em> Mene stated.<\/p>\n

 <\/p>\n

 <\/p>\n

Also, Kanayo Awani, Executive Vice President of Afreximbank, emphasised the importance of financing mechanisms that support African businesses in their expansion across borders. She reaffirmed Afreximbank\u2019s commitment to championing trade finance solutions and infrastructure investments that will unlock Africa\u2019s trade potential.<\/p>\n

 <\/p>\n

\u201cAt Afreximbank, we understand that trade finance is the lifeblood of economic development. Without it, businesses cannot scale, industries cannot innovate, and Africa cannot fully realise its trade potential. This is why we have developed instruments such as the Pan-African Payment and Settlement System (PAPSS) to facilitate seamless transactions across borders, reducing reliance on foreign currencies and strengthening intra-African trade,\u201d<\/em> Awani remarked.<\/p>\n

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We must invest in the initiatives that ensure that we can bring businesses together, forge trust, and create the connections necessary for trade<\/p><\/blockquote>\n<\/div>\n

 <\/p>\n

The conference featured an insightful testimonial from Nathalie Louat, Global Director at the IFC\/World Bank Group, who pointed out the pivotal role of trade finance in enabling cross-border transactions and supporting financial inclusion. She underscored the long-standing partnership between IFC and Access Bank in fostering Africa\u2019s economic resilience.<\/p>\n

 <\/p>\n

Several high-level panel discussions explored strategies to overcome trade barriers and enhance market access through innovative solutions. Experts from leading institutions, including Deutsche Bank, Traydstream, OWP Partners, Fiducia International, and more, examined how infrastructure improvements, digital solutions, and policy harmonisation could drive economic growth and boost intra-African trade.<\/p>\n

 <\/p>\n

Dr. Marc Auboin from the World Trade Organization (WTO) shared key insights on how digital transformation is reshaping Africa\u2019s supply chain landscape, creating efficiency and unlocking new global market opportunities. Tanya Dos Santos-Ford from GIBS Business School also led a session on sustainable trade practices, emphasising the need for environmentally responsible economic growth strategies.<\/p>\n

 <\/p>\n

The event culminated in an awards ceremony recognising outstanding contributions to intra-African trade and economic transformation. Tradepass Commodities Limited (Ghana), Chemaf International FZE (DR Congo), and Harvest Group of Companies (Zambia) were honoured for their impact on SMEs and women-led trade enterprises. Bulkstream Limited (Kenya) and Electricidade de Mo\u00e7ambique (Mozambique) received awards for advancing intra-African trade, while Tennant Metals South Africa Pty Ltd was recognised as an Emerging Leader in Trade.<\/p>\n

 <\/p>\n

The International Finance Corporation (IFC) was awarded the Climate Finance Leadership Award, while Afreximbank received the Champion of Intra-African Trade Award. The African Development Bank (AfDB) and Africa Finance Corporation (AFC) were celebrated for their roles in economic transformation and infrastructure finance, respectively. The prestigious African Icon Award was presented to IHS Group, Dangote Industries Limited, and MTN Group Limited for their significant contributions to Africa\u2019s economic progress.<\/p>\n

 <\/p>\n

As the conference ended, Seyi Kumapayi, Executive Director, African Subsidiaries at Access Bank, reaffirmed the institution\u2019s commitment to supporting trade finance, fostering regional integration, and championing policies that create an enabling environment for businesses across Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"

Access Bank PLC (www.AccessBankPLC.com) successfully hosted the inaugural Africa Trade Conference in Cape Town, South Africa, bringing together industry leaders, policymakers, and trade experts to drive solutions for accelerating intra-African trade and unlocking the continent\u2019s economic potential. The conference tackled critical challenges, including limited access to capital, market information gaps, trust deficits between trading partners, […]<\/p>\n","protected":false},"author":1,"featured_media":27182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[],"class_list":["post-27179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/27179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/comments?post=27179"}],"version-history":[{"count":0,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/27179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media\/27182"}],"wp:attachment":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media?parent=27179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/categories?post=27179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/tags?post=27179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}