Joy Agwunobi
Access Bank Plc has announced plans to host its first-ever Africa Trade Conference to bridge the $81 billion annual trade finance gap on the continent.
The conference, scheduled for March 12, 2025, in Cape Town, South Africa, themed “Empowering Africa Through Trade, Innovation, and Sustainable Growth,” will bring together influential leaders from trade, finance, and policy to discuss Africa’s trade future and explore solutions to the challenges hindering commerce across the continent.
With the trade finance gap in Africa estimated at $81 billion each year, the ATC will focus on addressing systemic issues that hinder trade, particularly for small and medium-sized enterprises (SMEs) and local businesses. By fostering collaboration among stakeholders, the conference will explore innovative solutions, sustainable trade practices, and strategies to integrate African economies into global value chains.
The conference will also focus on the potential of the African Continental Free Trade Area (AfCFTA), which aims to eliminate trade barriers, improve infrastructure, and better connect African economies to the global market.
Additionally, the event will cover important issues shaping the future of Africa’s economy, such as the role of digital progress in global trade, overcoming trade barriers to enhance market access, and the importance of sustainable trade and innovative financing methods. These discussions will provide a roadmap for strengthening Africa’s role in global commerce.
Roosevelt Ogbonna, group managing director and CEO of Access Bank, emphasised the significance of the conference in tackling these urgent challenges. “The Africa Trade Conference is an important opportunity to unlock Africa’s trade potential. By fostering conversation, innovation, and practical solutions, Access Bank is helping African businesses grow and connect with the global market,” Ogbonna said.
He also noted that, “With Access Bank’s presence in 24 countries, including 16 across Africa, the bank is in a unique position to support inter- and intra-African trade. Our wide network makes us a key player in addressing trade barriers and driving inclusive growth across the continent.”
Oluseyi Kumapayi, executive director of African subsidiaries at Access Bank, outlined the broader purpose of the forum, saying, “The Africa Trade Conference is not only about tackling trade challenges but also about showcasing the vast opportunities in Africa. By building strategic partnerships and offering tailored financial solutions, all grounded in sustainability, we are positioning African businesses to compete on the global stage.”
