At the 2025 Africa CEO Forum, influential leaders from across the continent united to advocate for private sector-led growth as the cornerstone of Africa’s economic integration and transformation.
The session, titled “Fast-tracking African Integration: The Private Sector Imperative,” stood out during the two-day event held in Abidjan.
Among the speakers, Roosevelt Ogbonna, Managing Director and CEO of Access Bank, joined Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA), and Samaila Zubairu, President and CEO of Africa Finance Corporation (AFC), in an engaging discussion on the future of African trade in the context of evolving global dynamics.
The panel underscored the pressing need to expand intra-African trade, build regional value chains, and improve the continent’s financial and infrastructure capabilities.
Ogbonna passionately asserted that Africa possesses all the resources necessary for success, including abundant natural resources and a young, vibrant population. He called for a shift in mindset, urging the continent to embrace local production.
“Years ago, ‘Made in China’ or ‘Made in Taiwan’ were dismissed. Today, they are symbols of quality,” Ogbonna noted.
“Africa is no different. We must develop strong domestic markets, innovate, and have confidence in our own products. My message remains: Buy Africa, it’s not inferior.”
Mene pointed to the adoption of tools such as the e-Tariff Book and the AfCFTA Adjustment Fund as significant steps towards dismantling trade barriers.
Zubairu emphasized the importance of greater collaboration between the public and private sectors to fund infrastructure projects that are crucial for regional connectivity.
A key challenge raised during the discussion was the lack of adequate logistics and payment systems. The Pan-African Payments and Settlement System (PAPSS) was identified as a vital solution for facilitating cross-border transactions and stimulating trade.
Ogbonna also drew attention to the $120 billion trade finance gap faced by African micro, small, and medium enterprises (MSMEs), urging financial institutions to devise innovative solutions to grant these businesses access to capital.
As the forum came to a close, the overarching message from the private sector was unmistakable: Africa’s future prosperity rests in its own hands. The time to invest, trade, and believe in the continent’s vast potential is now.
SOURCE: nigeriannewsdirect.com