Intra-African trade is poised for renewed momentum as financial institutions expand cross-border operations and back efforts to integrate the continent’s fragmented markets, with Nigeria’s banking sector emerging as a central force in that shift.
Commercial banks from Africa’s largest economy now operate 47 subsidiaries across the continent, underscoring the scale of regional expansion. At the same time, governments are working to dismantle tariff and regulatory barriers under the African Continental Free Trade Agreement, or AfCFTA, a framework designed to create a single market spanning 54 countries.
Access Bank Plc, one of Africa’s largest lenders by assets, is positioning itself at the center of that integration effort. The bank operates in 24 countries, including 16 across Africa, and maintains eight subsidiaries outside the continent, linking African businesses to global markets.
The lender is advancing that strategy through its Africa Trade Conference 2026, scheduled for March 11 in Cape Town, South Africa. Now in its second edition, the event is designed as a platform to align policymakers, investors, development finance institutions and corporate executives around practical measures to boost trade flows.
Organizers say the conference will feature ministerial panels, investor sessions, innovation showcases and workshops focused on AfCFTA implementation, trade finance, cross-border payments and capital mobilization. The objective is to move beyond political commitments and address operational bottlenecks that continue to constrain commerce between African economies.
“Africa will not be a spectator in the remaking of global trade,” said Roosevelt Ogbonna, Access Bank’s Group Managing Director and Chief Executive Officer, outlining the lender’s ambitions.
He argued that the continent must develop its own trade finance architecture, modernize cross-border payment systems and strengthen regulatory coordination rather than wait for external systems to adapt. Africa, he said, should engage the global economy on terms shaped by its own institutions and standards.
Despite its population of roughly 1.3 billion people and combined gross domestic product estimated at about $3 trillion, intra-African trade remains limited. According to Access Bank executives, trade among African countries accounts for around 16 percent of total commerce, compared with about 60 percent in Europe and 40 percent in Asia.
Seyi Kumapayi, Executive Director overseeing African subsidiaries at Access Bank, identified three persistent obstacles: limited access to affordable finance, inadequate information about markets and counterparties, and weak trust among trading partners.
“These challenges help explain why trade between African countries remains stuck at about 16 percent of total trade,” Kumapayi said.
Bridging the financing gap is central to the bank’s strategy. Access Bank has mobilized approximately $2 billion from development finance institutions for long-term lending across Africa. That funding is aimed at narrowing an estimated $81 billion annual trade finance shortfall on the continent, a gap that disproportionately affects small and medium-sized enterprises.
For Nigerian manufacturers, agricultural producers and exporters, expanded regional banking networks could translate into easier access to working capital, trade guarantees and supply chain finance. Such tools are often prerequisites for meeting international standards and fulfilling cross-border contracts, particularly in non-oil sectors where Nigeria is seeking diversification.
Access Bank’s footprint is intended to reduce transaction friction by harmonizing documentation processes, improving risk management and facilitating smoother payments between subsidiaries operating under a shared compliance framework. By internalizing more of the trade cycle within a single banking group, the lender aims to cut costs and shorten settlement times for clients.
Technology is another focus. Manual documentation, fragmented payment platforms and inconsistent credit assessment systems have historically slowed African trade. Conference sessions will highlight digital payment solutions, credit analytics and supply chain tracking tools that could streamline transactions.
Industry studies suggest that digital trade platforms can reduce transaction costs by up to 15 percent, a margin that can determine whether small exporters remain competitive. For fintech firms and logistics startups, the conference offers exposure to institutional investors and potential corporate partners.
Cape Town’s selection as host city for the second consecutive edition underscores South Africa’s role as a gateway economy. The country’s infrastructure, financial markets and corporate base position it as a key node in regional value chains linking Southern, Eastern and West Africa.
Access Bank’s recent acquisitions and expansions in Southern, Eastern and Central Africa are designed to leverage those linkages. Executives point to potential synergies in sectors such as agriculture, energy and mining, where cross-border supply chains could connect Nigerian capital, South African infrastructure and resource-rich economies including Zambia, Zimbabwe and the Democratic Republic of the Congo.
AfCFTA remains the policy backbone of these ambitions. Although most African countries have signed and ratified the agreement, implementation has been uneven. Rules of origin, tariff schedules and the removal of non-tariff barriers are progressing at varying speeds, creating uncertainty for businesses seeking to expand regionally.
By convening regulators alongside financiers and corporate leaders, Access Bank aims to provide an informal setting where operational challenges can be addressed pragmatically. Such engagement, executives argue, can accelerate implementation by aligning regulatory reforms with the needs of businesses executing cross-border transactions.
Inclusion is also on the agenda. Small and medium-sized enterprises account for more than 80 percent of employment across Africa yet receive a relatively small share of formal trade finance. Women- and youth-owned businesses are particularly underserved.
Conference discussions will explore financing models such as receivables discounting and structured supply chain finance, which allow smaller firms to leverage confirmed purchase orders or invoices to access capital. Expanding such instruments is viewed as essential if intra-African trade volumes are to scale meaningfully.
The initiative unfolds against intensifying global competition for African markets. Major economies are deepening trade and investment ties with the continent, seeking access to natural resources and emerging consumer markets. While external partnerships offer capital and technology, they also risk reinforcing patterns in which Africa exports raw materials and imports finished goods.
By promoting an African-led trade platform, Access Bank and its partners aim to support value addition within the continent and strengthen regional production networks. The emphasis on “real-world impact,” as articulated by conference organizers, reflects a focus on execution rather than declarations.
Whether such initiatives can materially lift intra-African trade above its current share will depend on sustained policy coordination, infrastructure investment and the ability of financial institutions to price and manage risk across diverse jurisdictions. For now, lenders like Access Bank are betting that deeper integration is not only feasible but essential to Africa’s economic trajectory.