Access Bank To Advance Economic Transformation As Africa’s Trade Finance Gap Hits $81bn

Access Bank Plc is set to advance Africa’s economic transformation as Africa’s Trade Finance gap hits $81billion.

To this end, the bank will be hosting its Africa Trade Conference (ATC) themed: ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth,’ and will be held on March 12, 2025, in Cape Town, South Africa.

The conference is poised to bring together the most influential voices in trade, finance, and policy to address the future of commerce across the continent.

With Africa’s trade finance gap estimated at $81 billion annually, the conference aims to tackle the systemic challenges hindering trade, particularly for SMEs and domestic firms. By fostering collaboration among key stakeholders, the conference said, it will explore innovative solutions, sustainable trade practices, and strategies for expanding African economies into global value chains.

Group managing director/chief executive officer, Access Bank, Roosevelt Ogbonna emphasised the importance of the Africa Trade Conference, in addressing these pressing issues. “The Africa Trade Conference represents a crucial step in redefining Africa’s trade potential. By creating platforms for dialogue, innovation, and actionable solutions, Access Bank is enabling African businesses to connect and thrive in the global economy,” he stated.

He noted that, “Access Bank’s presence across 24 countries globally, including 16 in Africa, provides a unique advantage in facilitating inter- and intra-African trade. The Bank’s growing network positions it as a key player in addressing trade complexities and promoting inclusive growth across the continent.”

Earlier, the executive director, African Subsidiaries, Access Bank, Seyi Kumapayi highlighted the broader vision of the forum, saying, “the Africa Trade Conference is a platform to not only address Africa’s trade challenges, but to champion the continent’s opportunities. Through strategic partnerships, tailored financial solutions, built on the ethos of sustainability, we are paving the way for Africa’s businesses to take their place on the global stage.”

Access Bank explained that, “the ATC will also shine a spotlight on the transformative potential of the Africa Continental Free Trade Area (AfCFTA), which aims to reduce trade barriers, enhance infrastructure, and integrate African economies into global trade networks.

“Furthermore, the event will explore critical themes shaping the continent’s economic future, including the transformative role of digitisation and innovation in global trade, solutions for overcoming trade barriers to enhance market access, as well as sustainable trade practices and innovative financing models, thereby providing a comprehensive roadmap for advancing Africa’s position in global commerce.”