Access Bank Confronts Africa’s $81bn Trade Finance Gap

Access Bank Plc has unveiled plans to host its inaugural Africa Trade Conference as part of efforts to bridge the continent’s estimated $81 billion annual trade finance gap.

This was disclosed in a statement made available to The PUNCH on Wednesday.

The conference, themed “Empowering Africa Through Trade, Innovation, and Sustainable Growth,” is set to take place in March in Cape Town, South Africa.

With Africa’s trade finance shortfall projected at $81 billion annually, the event seeks to address systemic impediments to trade, particularly for SMEs and local enterprises. By fostering collaboration among key stakeholders, the conference will explore innovative financial instruments, sustainable trade frameworks, and strategic pathways for integrating African economies into global value chains.

Group Managing Director and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, underscored the Africa Trade Conference’s pivotal role in tackling these critical issues.

He stated, “The Africa Trade Conference represents a significant milestone in redefining the continent’s trade potential. By facilitating discussions, fostering innovation, and developing actionable solutions, Access Bank is empowering African enterprises to compete and excel in the global marketplace.”

Access Bank’s extensive footprint across 24 countries worldwide—including 15 in Africa—positions it uniquely to drive intra- and inter-African trade facilitation. The bank’s expanding network enables it to address trade-related complexities while fostering inclusive economic growth across the continent.

Seyi Kumapayi, Executive Director of African Subsidiaries at Access Bank, elaborated on the broader vision of the forum, noting:

“The Africa Trade Conference serves not only as a platform to confront Africa’s trade challenges but also as a catalyst for unlocking the continent’s vast opportunities. Through strategic alliances and customized financial solutions, underpinned by sustainability principles, we are paving the way for African enterprises to assert their presence on the global stage.”

This flagship event will convene an esteemed assembly of renowned speakers, top executives from leading global financial institutions, development finance organizations, and prominent industry leaders across Africa.

Additionally, the Africa Trade Conference will spotlight the transformative potential of the African Continental Free Trade Area (AfCFTA), an initiative designed to dismantle trade barriers, enhance infrastructure development, and integrate African economies into global trade networks.