\n The 2026 edition, themed \u201cAfrica Grow,\u201d focused on Africa\u2019s emerging priorities, from fiscal stability and trade integration to food security, public-private partnerships and innovation.\n <\/p>\n
\n \u201cThe Africa Business Convention exists to accelerate Africa\u2019s economic transformation by uniting policymakers, business leaders and partners to champion enterprise, investment and inclusive growth,\u201d said Dr. Ogho Okiti, CEO and convener of ABC, during his welcome address.\n <\/p>\n
\n He noted that since its establishment, the Convention has been anchored on six core pillars designed to shape dialogue, build communities and inspire action, positioning ABC as a catalyst for policy reform, business collaboration and investment commitments.\n <\/p>\n
<\/p>\n
From agreements to action<\/p>\n
\n One of the clearest illustrations of Africa\u2019s growth challenge \u2014 and opportunity, came from Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA). Mene said the continent is now firmly shifting from negotiation to implementation.\n <\/p>\n
\n With 50 countries having ratified AfCFTA, the framework is beginning to reshape trade flows. According to the African Development Bank\u2019s 2024 Intra-Africa Trade Report, trade between African countries reached $220 billion last year, driven largely by the private sector. Small and medium-sized enterprises, which account for roughly half of Africa\u2019s GDP, are at the centre of this expansion.\n <\/p>\n
\n \u201cTrade is not done by governments,\u201d Mene said. \u201cIt is the private sector that drives regional and continental trade.\u201d\n <\/p>\n
\n Countries such as Nigeria are already seeing tangible results. Over the past 18 months, Africa has become Nigeria\u2019s largest export destination, reflecting growing regional integration.\n <\/p>\n
\n Still, Mene urged realism. \u201cIt\u2019s only been a year since the establishment of AfCFTA. We are dismantling almost 70 years of fragmented trade on the continent. This will not happen overnight,\u201d he said.\n <\/p>\n
<\/p>\n
Growth beyond GDP<\/p>\n
\n That emphasis on realism carried into a panel discussion that examined growth beyond macroeconomic indicators. The panel \u2014 featuring Modupe Odele, managing partner at VAI Law; Lilian Olubi, CEO of Lily\u2019s Global Services and producer of Osam\u1eb9; and Muyiwa Matiluko, CEO of Business Front- explored growth as a lived experience, not just an economic outcome.\n <\/p>\n
\n For Odele, growth is measured by how much friction ordinary Africans face in their daily lives. Drawing on her travels across the continent, she pointed to persistent logistical, financial and mobility barriers that continue to constrain trade.\n <\/p>\n
\n The Africa Visa Openness Index shows that only 28% of intra-African travel is visa-free, stressing persistent barriers to movement.\n <\/p>\n
\n \u201cGrowth, for me, is when the average person doesn\u2019t need to understand economic jargon,\u201d Odele said. \u201cThey just know that if I sell sachet water in Lagos, I can sell it in Bobo-Dioulasso without hassle, get paid, and move across borders with ease.\u201d\n <\/p>\n
\n Her argument reflected a broader theme at the Convention that without harmonised markets and easier movement of people and capital, Africa\u2019s growth story remains incomplete.\n <\/p>\n
<\/p>\n
Culture as an economic engine<\/p>\n
\n Olubi offered a different but complementary lens, focusing on Africa\u2019s creative economy. After more than two decades in capital markets, she transitioned into filmmaking, driven by a belief in storytelling as both cultural expression and economic infrastructure.\n <\/p>\n
\n Her debut film Osam\u1eb9, which depicts the 1897 British invasion of the Benin Kingdom, has screened at Cannes and won Best Narrative Feature at the Silicon Valley African Film Festival.\n <\/p>\n
\n \u201cAfricans are innately gifted storytellers,\u201d Olubi said. \u201cOur stories create jobs, influence culture and shape global perceptions of the continent.\u201d\n <\/p>\n
\n Yet she also highlighted structural weaknesses in the creative sector, including undercapitalisation, weak intellectual property protection and reliance on foreign-owned distribution platforms.\n <\/p>\n
\n For her, real growth lies in building creative industries that are both culturally authentic and economically sustainable.\n <\/p>\n
<\/p>\n
The power of patience<\/p>\n
\n Matiluko brought the conversation back to business fundamentals, drawing on research into more than 100 African companies that have survived for over 50 years. He identified three recurring drivers of longevity: location, service to the masses and time.\n <\/p>\n
\n Most of these companies are headquartered in Lagos, where infrastructure, market access and economic concentration support long-term operations.\n <\/p>\n
\n Many operate in financial services or consumer goods, sectors that meet everyday needs and generate stable demand.\n <\/p>\n
\n Crucially, many are private or family-owned, prioritising steady growth over rapid exits. \u201cWhile fast-growth startups capture headlines, it\u2019s these patiently built businesses that create lasting value across generations,\u201d Matiluko argued.\n <\/p>\n
\n \u201cTime is more important than speed,\u201d he said. \u201cLegacy businesses understand that.\u201d\n <\/p>\n
<\/p>\n
Infrastructure before hype<\/p>\n
\n The conversation around growth also exposed a hard truth about Africa\u2019s digital ambitions: technology cannot outrun infrastructure.\n <\/p>\n
\n Panellists stressed that data centres, the backbone of the digital economy, are unforgiving when it comes to unreliable power. In cities like Lagos, access to gas allows operators to bypass unstable national grids, but much of the continent lacks this advantage.\n <\/p>\n
\n \u201cIf power is not available, none of this critical infrastructure works,\u201d said Dr Krishnan Ranganath, Regional Executive for West Africa at Africa Data Centres.\n <\/p>\n
\n Contrary to popular belief, speakers argued that Africa\u2019s infrastructure challenge is not a shortage of capital but a shortage of bankable projects.\n <\/p>\n
\n \u201cThere is capital available,\u201d one Ranganath said. \u201cBut the pipeline of investable, well-structured projects is missing.\u201d\n <\/p>\n
A cautious path to AI<\/p>\n
\n On artificial intelligence, the tone was measured. Speakers warned against importing Western timelines and expectations wholesale.\n <\/p>\n
\n \u201cWe need to grow at our own pace,\u201d one Ranganath said. \u201cIf you try to run too fast, you fall and break your nose.\u201d\n <\/p>\n
\n With Africa\u2019s youthful population and large labour force, panellists cautioned that AI adoption without parallel investment in skills, jobs and infrastructure could deepen inequality.\n <\/p>\n
\n The consensus was clear: capacity building, digital literacy and reliable infrastructure must come first if Africa is to participate meaningfully in the global tech economy.\n <\/p>\n
\n \u201cThis is a golden moment for Africa,\u201d Dr Ranganath said. \u201cBut if we don\u2019t fix the fundamentals \u2014 power, transmission and education \u2014 we will lose it.\u201d\n <\/p>\n
Growth, redefined<\/p>\n
\n By the end of the Convention, it became clear that growth in Africa is about systems that work, borders that open, power that stays on, stories that travel, and businesses that endure.\n <\/p>\n
\n Now in its fifth year, the Africa Business Convention has positioned itself as a leading B2B platform for high-level dialogue, deal-making and investment collaboration across the continent.\n <\/p>\n
\n Since its launch in 2021, the forum has attracted more than 8,700 delegates, including online participants, and over 140 speakers from Africa and beyond, cementing its place in the continent\u2019s evolving economic conversation.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The 2026 edition, themed \u201cAfrica Grow,\u201d focused on Africa\u2019s emerging priorities, from fiscal stability and trade integration to…\n","protected":false},"author":2,"featured_media":464779,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":{"0":"post-464778","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/464778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=464778"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/464778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/464779"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=464778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=464778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=464778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}