Access Bank PLC 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’s 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.
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.
“We 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,” Ogbonna stated.
With Africa’s 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’s 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.
"The AfCFTA is not just a trade agreement; it
is an instrument for Africa’s 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,” Mene stated.
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’s commitment to championing trade finance solutions and
infrastructure investments that will unlock Africa’s trade potential.
“At 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,” Awani
remarked.
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’s economic resilience.
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.
Dr. Marc Auboin from the World Trade Organization
(WTO) shared key insights on how digital transformation is reshaping Africa’s
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.
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
Moçambique (Mozambique) received awards for advancing intra-African trade,
while Tennant Metals South Africa Pty Ltd was recognised as an Emerging Leader
in Trade.
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’s economic
progress.
As the conference ended, Seyi Kumapayi, Executive
Director, African Subsidiaries at Access Bank, reaffirmed the institution’s
commitment to supporting trade finance, fostering regional integration, and
championing policies that create an enabling environment for businesses across
Africa.
|
| L-R: Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank PLC; Kanayo Awani, Executive Vice President, Africa Export-Import Bank (Afreximbank); Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank Plc; Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division, Access Bank PLC; Nathalie Louat, Global Director, IFC/World Bank Group, and Dr. Marc Auboin, Counsellor, Economic Research and Statistics, World Trade Organisation (WTO), at the inaugural Africa Trade Conference organised by Access Bank in Cape Town, South Africa...yesterday |
 |
| L-R: Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division, Access Bank PLC; Kanayo Awani, Executive Vice President, Africa Export-Import Bank (Afreximbank); Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank PLC; Nathalie Louat, Global Director, IFC/World Bank Group, and Dr. Marc Auboin, Counsellor, Economic Research and Statistics, World Trade Organization (WTO), at the inaugural Africa Trade Conference organised by Access Bank in Cape Town, South Africa...yesterday. |
About Access Bank PLC
Access Bank PLC, a wholly owned subsidiary of
Access Holdings PLC, is a leading full-service commercial bank operating
through a network of more than 700 branches and service outlets spanning three
continents, 24 countries and over 60 million customers. The Bank employs over
28,000 people in its operations in Africa and Europe, with representative
offices in China, Lebanon, India, and the UAE.
Access Bank’s parent company, Access Holdings PLC,
has been listed on the Nigerian Stock Exchange since 1998 (now Nigerian
Exchange (NGX)). The Bank is a diversified financial institution which combines
a strong retail customer franchise and digital platform with deep corporate
banking expertise, proven risk management and capital management capabilities.
The Bank services its various markets through three key business segments: Corporate
and Investment Banking, Commercial Banking, and Retail Banking. The Bank
has enjoyed what is Africa’s most successful banking growth trajectory in the
last 20 years, becoming one of the continent’s largest retail banks.
As part of its continued growth strategy, Access
Bank is focused on mainstreaming sustainable business practices into its
operations. The Bank strives to deliver sustainable economic growth that is
profitable, environmentally responsible, and socially relevant, helping
customers to access more and achieve their dreams.
0 Comments