Access Bank tackles Africa’s $81bn trade finance gap
Access Bank Plc has announced plans to host its first-ever Africa Trade Conference to bridge the $81bn annual trade finance gap on the continent.
This was indicated in a statement made available to The PUNCH on Wednesday.
The conference to be hosted under the theme ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’ is scheduled for March in Cape Town, South Africa.
With Africa’s trade finance gap estimated at $81bn 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 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 Plc, Roosevelt Ogbonna, emphasised the importance of the Africa Trade Conference in addressing these pressing issues.
He said, “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.”
Access Bank’s presence across 24 countries globally, including 15 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.
Executive Director, African Subsidiaries, Access Bank, Seyi Kumapayi, in his comments, 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 and 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.”
This flagship event will convene a distinguished lineup of seasoned speakers and top executives from leading international banks, development finance institutions, and captains of industry in Africa.
The ATC will also shine a spotlight on the transformative potential of the Africa Continental Free Trade Area, 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, and sustainable trade practices and innovative financing models, thereby providing a comprehensive roadmap for advancing Africa’s position in global commerce.
