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Intra-Africa trade set for a boost as Access Bank sustains initiative

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Intra-Africa trade set for a boost as Access Bank sustains initiative

By Emeka Anaeto, Business Editor 

There are indications that intra-Africa trade is now coming alive with stronger financial industry initiatives to integrate the continent’s economies. 

It also appears that Nigeria’s banking industry is leading the charge with a total of 47 subsidiaries across the continent.  On the strength of this reach, continental trade is now getting the required financial backing just as the content’s governments are also taking down sovereign barriers through the African Continental Free Trade Agreement (AfCFTA) structure. 

Access Bank PLC, one of the continent’s leading financial institutions, has demonstrated the capacity and willingness to drive the continent’s economic integration through its continent-wide reach with subsidiaries in about 16 countries on the continent Africa. This continental reach is also supported by eight other subsidiaries outside Africa, thereby globalizing the opportunities for African entrepreneurs.

The bank has now rolled out its own initiative towards realizing the dreams of common continental market through active and seamless financial transactions across the borders.

The bank’s Africa Trade Conference (ATC) 2026, scheduled for March 11 in Cape Town, South Africa, is designed to help make that change real. This would be the second edition in the series of such strategic conference.

It is designed to expand the momentum with ministerial panels, investor sessions, innovation showcases, and policy-aligned workshops designed to advance AfCFTA implementation, strengthen trade finance and payment systems, unlock capital flows, and deliver real-world intra-African and global trade outcomes.

Access Bank’s GMD/CEO, Roosevelt Ogbonna, and Executive Director, Seyi Kumapayi, emphasized that Africa must  build its own trade finance architecture, strengthen crossborder payment and regulatory systems, and leverage institutional scale to reduce friction for SMEs and large corporates—moving from mere presence to  purposeful integration of African markets.

Ogbonna made a categorical statement of intent behind the bank’s initiative saying, “Africa will not be a spectator in the remaking of global trade.”

He added: “Africa cannot keep waiting for global systems to accommodate it on fair terms. We must design our own pathways, build our own trade finance architecture, and grow our own institutions to global standards. Not in isolation from the world,  but on our own terms.”

He framed Africa not as a charity case in global trade, but as a serious economic actor that needs to claim its seat with confidence.

Also speaking Kumapayi, Executive Director for African Subsidiaries at Access Bank, noted that three major barriers continue to slow African trade. He listed them as limited access to affordable finance, lack of reliable information, and weak trust between trading partners. 

He stated: “These challenges help explain why trade between African countries remains stuck at about 16 per cent of total trade, far below 

Europe’s 60 per cent and Asia’s 40 per cent.”

Intra-Africa trade in globalized market 

In the ever changing global economic environment, trade is changing. Supply chains are being restructured as countries look for trusted partners and alternative production hubs. Africa, with a population of about 1.3 billion, a combined GDP of roughly $3 trillion, and vast natural resources, presents significant opportunities. 

Yet this opportunity will remain unrealised without strong financial systems, efficient infrastructure, clear rules, and modern technology. 

Access Bank understands this. That is why it describes ATC 2026 not as a banking event, but as a meeting point for policy, finance, technology, and business.

For Nigeria, the benefits of this strategy are significant. As Access Bank expands across 24 countries, including 16 in Africa, it is building a network that makes cross-border trade easier and cheaper for Nigerian businesses. Payments become smoother, risks are better managed, and trade documentation is easier to handle. The bank has already mobilised about $2 billion from development finance institutions for long-term lending across Africa. If well deployed, this funding can help close Africa’s estimated $81 billion annual trade finance gap.

Long list of ATC benefits 

For Nigerian manufacturers, farmers, and exporters, this means more than numbers. It means access to working capital, supply chain finance, and trade guarantees that enable them to compete beyond Nigeria’s borders. It also means support in meeting international standards, one of the biggest obstacles facing Nigeria’s non-oil exports. Through ATC 2026, exporters can engage directly with regulators, certification agencies, logistics firms, and buyers from other markets. This kind of direct interaction helps remove barriers that paperwork alone cannot fix.

The conference also creates space for innovation. As planned, Nigerian fintech firms, agritech startups, and logistics solutions will be showcased to investors and partners. This is important because technology is becoming central to modern trade. Manual processes, fragmented payment platforms, and poor access to information have long slowed Africa’s trade systems. ATC 2026 will focus on how digital tools, from faster payment systems to smarter credit assessments, can reduce costs and speed up transactions. Studies suggest that digital trade solutions could reduce trade costs by up to 15 per cent, a significant gain for small and medium-sized businesses.

Other African economies also stand to benefit. Access Bank’s recent expansions and acquisitions have strengthened its presence in Southern, Eastern, and Central Africa. Hosting the conference in Cape Town for the second time highlights South Africa’s role as a key gateway economy. 

It also opens the door to regional trade models where Nigerian capital, South African infrastructure, and regional supply chains work together. Countries such as Zambia, Zimbabwe, and the Democratic Republic of the Congo could benefit from these linked value chains, particularly in agriculture, energy, and mining.

AfCFTA is central to this vision. 

While most African countries have signed and ratified the agreement, implementation remains uneven. Rules of origin, tariff schedules, and the removal of non-tariff barriers are progressing slowly. 

ATC 2026 offers an informal but powerful platform for policymakers and regulators to engage directly with businesses and financiers. These conversations often achieve more than formal negotiations because they focus on practical solutions. 

By providing the financial and operational tools needed for cross-border trade, Access Bank helps turn political agreements into real economic activity.

Another key focus of the conference is inclusion. Across Africa, women and young people own a large share of small businesses, yet they are often excluded from trade finance. 

SMEs account for over 80 percent of employment across the continent but receive only a small share of available trade finance. ATC 2026 will explore new financing models, such as supply chain finance and receivables discounting, to expand access to capital. This is not just a social goal; it is an economic necessity if Africa wants to scale up intra-continental trade.

The conference also takes place against growing global competition for African markets. Major powers are expanding their trade and investment initiatives across the continent. While these partnerships bring opportunities, they also carry risks. An African-led platform like ATC 2026 helps ensure that external engagements align with Africa’s own development priorities. It reinforces the idea that Africa should trade with the world on its own terms, adding value locally rather than exporting raw materials alone.

Importantly, ATC 2026 emphasizes action. The theme’s focus on “real-world impact” reflects a desire to move beyond declarations to execution. Trade is built on relationships, trust, and continuity. By combining business discussions with cultural and networking activities, the conference recognises that deals are often sealed through sustained engagement rather than one-off meetings.

With platforms like ATC 2026, Africa is no longer just a source of commodities. It is beginning to shape the rules, systems, and relationships that define global trade.

The post Intra-Africa trade set for a boost as Access Bank sustains initiative appeared first on Vanguard News.

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Nigeria’s challenge is low revenue, not high debt – World Bank

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The World Bank has said Nigeria’s biggest fiscal challenge is weak revenue mobilisation rather than excessive borrowing, urging the government to prioritise efforts to boost revenue generation to support sustainable economic growth.

Speaking during an interview on Channels Television on Friday, the World Bank Country Director for Nigeria, Mathew Verghis, said Nigeria’s debt profile remains moderate by international standards and is significantly different from countries experiencing debt distress.

“From our assessment, Nigeria doesn’t have a high indebtedness problem; it has a low revenue problem,” Verghis said.

He explained that Nigeria’s debt-to-GDP ratio is lower than that of many comparable countries, stressing that concerns should focus on improving government revenue rather than limiting borrowing.

“When we looked at the numbers, Nigeria is a moderately indebted country, meaning it has less debt relative to its economy than most of its neighbours and many other countries,” he said.

“Nigeria is in a very different situation than Ghana, for example, which is going through a debt restructuring.”

Verghis defended government borrowing as a necessary tool for financing long-term investments that stimulate economic growth and improve living standards.

“Nigeria borrows for the same reasons that all countries borrow. If you want to deliver results to people, the money available on an annual basis is not enough. So you borrow, deliver results, and that improves your ability to repay,” he said.

He cited the expansion of electricity access as an example, noting that providing power to about 32 million Nigerians requires substantial upfront investment.

“To be able to connect and provide energy to 32 million Nigerians, Nigeria needs to borrow money now. But with increased access to energy, the country will become wealthier and better positioned to repay the loans,” he added.

The World Bank official, however, warned that low government revenue poses a greater threat to Nigeria’s fiscal sustainability than its current debt level.

“Nigeria’s debt is not particularly high, and in fact, it’s quite moderate by international standards. Its revenues are very low by international standards, and unless those revenues are raised, it will not be able to pay back debt,” Verghis said.

According to him, strengthening revenue mobilisation would enable the government to increase investments in infrastructure, healthcare, education and other sectors that drive job creation, improve human capital and reduce poverty over the long term.

The remarks come as the World Bank recently unveiled a new six-year Country Partnership Framework for Nigeria, which places job creation at the centre of its support for the country through investments in infrastructure, healthcare, agriculture and digital connectivity.

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FG increases domestic borrowing by 241%

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By Elizabeth Adegbesan 

As part of the Federal Government (FG) borrowing plan for the 2026 budget, the Central Bank of Nigeria, CBN, has issued Treasury Bills, TBs, to raise N5.8 trillion in the third quarter of 2026 (Q3’26).

This represents a 241 percent year-on-year (YoY) increase when compared to N1.76 trillion sold in Q3’25.

CBN disclosed this in its Nigeria Treasury Bills Issue programme for Q3’26.

Treasury Bills are short term (less than one year) debt instruments used by the apex bank to borrow money from the Nigerian public on behalf of the federal government.  CBN also uses TBs to control money supply in the economy.

The TB issue programme commenced on July 1st, and ends on September 23rd, 2026. The settlement date began yesterday and ends on September 24th, 2026.

During the period, the apex bank will issue TBs worth N900 billion on 91 days tenor, N900 billion on 182 days and N4 trillion on 364 days.

A breakdown of the programme revealed that in July, the apex bank plans to issue N2 trillion worth of TBs, comprising N300 billion worth of 91 days bills, N300 billion worth of 182 days bills and N1.4 trillion worth of 364 bills.

In August, the apex bank issued N2.1 trillion worth of TBs, comprising N300 billion worth of 91 days bills, N300 billion worth of 182 days bills, and N1.5 trillion worth of 364 days bills.

In September, CBN plans to sell N1.7 trillion worth of TBs comprising N300 billion worth of 91 days bills, N300 billion worth of 182 days bills and N1.1 trillion worth of 384 days bills.

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EVs: Afreximbank wants Nigeria, other African countries to stop exporting Lithium

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By Emma Ujah

President and Chairman of the Board of the African Export-Import Bank (Afreximbank), Dr. George Elombi, has tasked African nations to stop the export of Lithium, the main raw material used in the production of electric vehicle (EV) batteries. Nigeria is a major exporter of Lithium in Africa, though most of the quantity is illegally exported.

Speaking at the bank’s Mid-Year Media Roundtable in Abuja on Wednesday, he said that rather than exporting raw lithium, African countries should use it to manufacture EV batteries on the continent.

He also said Afreximbank has sufficient funds to finance the production of EV batteries and is ready to provide the necessary funding to any individual or organisation willing to venture into the industry.

In his words, “African mineral resources must work for Africa’s development. EVs are the future of transportation, and the use of lithium to produce EV batteries is taking centre stage in the EV industry.

“Africa must take its position in the EV industry. We have lithium. We should produce EV batteries at home. We simply have to produce them here. There is enough money in Africa to manufacture batteries in Africa.

“If you know anyone who is interested in EV battery production, bring them to me. But if you see someone looking for funding to export lithium, don’t bring them to me.”

Dr. Elombi also said African leaders and institutions must work together to ensure that African funds held outside the continent are repatriated to support the region’s development.

Some rating agencies biased against Africa

Speaking on the bank’s credit ratings, Dr. Elombi, who advocated for African rating agencies, said some global rating agencies initially dismissed Afreximbank as too small and insignificant to drive Africa’s development, while questioning the bank’s trade finance mandate.

According to him, one agency’s 2014 assessment suggested that trade finance could not serve as a foundation for development and implied that the bank’s core mandate lacked relevance. 

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