African Regional Integration Key To Economic Prosperity – Cavista Holdings Boss

Niyi John Olajide, Chairman of Cavista Holdings and the Corporate Council on Africa, has called on African leaders to strengthen regional integration and create an enabling business environment to drive cross-border investment and economic growth across the continent.

Olajide made the call yesterday while speaking as Special Guest of Honour at the 10th Anniversary Chieftaincy Installation ceremony held at the Ooni of Ife’s Palace.

He said Africa’s economic future depends on practical frameworks that promote regional cooperation, reduce barriers to trade and investment, and support private sector growth, noting that fragmented markets continue to limit the continent’s vast economic potential.

According to him, Africa’s population of about 1.4 billion people and combined gross domestic product of over $3 trillion remain underutilised due to restrictive cross-border policies and weak integration.

“Nigeria’s prosperity is closely tied to Ghana’s success. Progress in one African country creates opportunities across the continent,” Olajide said, urging governments to remove bureaucratic obstacles that hinder regional investment and business expansion.

He stressed the need for African governments to move beyond policy declarations to concrete actions, including streamlined regulations, transparent investment frameworks, reduced trade barriers and the protection of property rights.

Olajide also referenced the African Continental Free Trade Area (AfCFTA), stating that its full benefits would only be realised through harmonised standards, efficient customs processes, and predictable regulatory environments.

He described the Nigeria–Ghana economic relationship as a potential model for broader continental cooperation, calling for deeper collaboration between both countries to serve as a blueprint for Africa’s economic integration.

The ceremony, hosted by the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, featured the conferment of the chieftaincy title of Aare Atayese of Oodua on Ghanaian President John Dramani Mahama.

Dignitaries at the event included former President of Botswana, Mr Mokgweetsi Eric Masisi; industrialist Aliko Dangote; the Emir of Kano, Alhaji Ado Bayero; and other African leaders and business figures.

In his remarks, the Ooni of Ife called for the strengthening of historical, cultural and economic ties between Nigeria and Ghana, stressing that deeper cooperation would deliver greater benefits to citizens of both countries and the wider African region.