The Director-General for Southern Africa at the African Development Bank, Kennedy Mbekeani, has called for stronger policy coordination and greater mobilisation of private capital to unlock Africa\u2019s trade potential under the African Continental Free Trade Area.\n<\/p>\n
Mbekeani made the call while delivering a keynote address at the 2026 Africa Trade Conference held in South Africa. The conference, organised by Access Bank, was themed \u201cTurning Vision into Velocity: Building Africa\u2019s Trade Ecosystem for Real-World Impact.\u201d\n<\/p>\n
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He said Africa possesses the financial resources, institutions, and capital required for development, but needs stronger coordination and confidence in its systems to drive growth.\n<\/p>\n
\u201cAfrica has the resources, the financial institutions, and the capital required for development. What we need is stronger coordination, improved policies, and confidence in our own systems,\u201d Mbekeani said.<\/p>\n
According to him, the continent\u2019s large population and vast natural resources position it to build one of the world\u2019s largest consumer markets if governments harmonise policies and create enabling environments for businesses.\n<\/p>\n
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Mbekeani noted that Africa\u2019s development challenge is not the absence of capital but the need to mobilise available resources and channel them into infrastructure and productive sectors.\n<\/p>\n
\u201cWe must focus on mobilising private capital at a continental scale. The funds needed for Africa\u2019s development already exist within the continent,\u201d he said.\n<\/p>\n
He urged African governments to deepen partnerships with the private sector in areas such as energy, transport, water and education to help bridge the continent\u2019s infrastructure deficit.<\/p>\n
Mbekeani added that successful public-private partnerships across several countries have demonstrated that private investors can deliver critical infrastructure when supported by clear policies and effective regulatory frameworks.\n<\/p>\n
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\u201cWe need governments to create enabling environments while the private sector participates actively in building the infrastructure that will support regional integration,\u201d he said.\n<\/p>\n
He also stressed the need for African institutions to shape the global narrative about the continent\u2019s investment climate, noting that perceptions of risk in Africa are often exaggerated.\n<\/p>\n
\u201cAfrica must begin to tell its own story. The perception of risk on the continent is sometimes higher than the reality,\u201d Mbekeani said.<\/p>\n
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He explained that stronger regional markets would reduce Africa\u2019s vulnerability to global economic shocks and enable countries to process more of their resources locally.\n<\/p>\n
According to him, deeper economic integration will boost intra-African trade, strengthen supply chains and enhance the continent\u2019s resilience to global disruptions.\n<\/p>\n
Mbekeani described the AfCFTA as a historic opportunity to build a truly integrated African market and urged governments, financial institutions and businesses to take practical steps to turn the vision into reality.\n<\/p>\n
Also speaking at the event, the Chief Executive Officer of the Pan-African Payment and Settlement System, Mike Ogbalu, said high transaction costs and fragmented payment systems have long hindered trade within Africa.<\/p>\n
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Ogbalu explained that the platform allows payments initiated in one African currency to be received in another within seconds, eliminating the need for third-party currencies and lengthy correspondent banking processes.\n<\/p>\n
\u201cA payment can originate in Nigeria in naira and arrive in Egypt in Egyptian pounds within seconds. That is the efficiency we are bringing to African trade,\u201d he said.\n<\/p>\n
According to him, the system guarantees transaction completion within 120 seconds, although most payments are currently processed in about 12 seconds.\n<\/p>\n
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He added that the platform has reduced cross-border payment costs by more than 98 per cent while ensuring transactions comply with global standards on anti-money laundering, sanctions screening and fraud management.\n<\/p>\n
Ogbalu noted that the system currently operates in about 20 African countries, with more than 170 commercial banks and fintech firms connected to the network.\n<\/p>\n
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\u201cFor many African entrepreneurs, their real market is not just their home country but the entire continent of over 1.4 billion people,\u201d he said, adding that efficient payment systems would help businesses expand across borders and unlock the full potential of intra-African trade.\n<\/p>\n
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