The African Export-Import Bank (Afreximbank) has identified the lack of market intelligence, fragmented infrastructure, and colonial trade legacies as key barriers stunting intra-African trade growth across the continent.
Speaking on Monday during the Nigeria Roadshow for the Intra-African Trade Fair (IATF) 2025 held in Lagos, Executive Vice President of Intra-African Trade and Export Development at Afreximbank, Kanayo Awani, warned that Africa’s trade potential will remain underutilized unless the continent builds structured trade platforms and breaks free from externally dependent trade systems.
“Africans are not trading with one another—not for lack of willingness—but due to poor market intelligence, lack of connectivity, and absence of structured trade mechanisms,” Awani stated. She argued that decades of trading externally, hardwired during colonial times, have weakened the continent’s internal trade ecosystem and undermined regional economic integration.
Awani traced the roots of Africa’s disjointed trade systems to colonial-era designs that forced African economies to rely on imports from the West and Asia rather than develop local or regional supply chains. “Historically, our trade patterns were dictated by foreign needs—Europe for machinery, Asia for textiles, and the Americas for food—while we ignored what we already had at home,” she explained.
Highlighting the irrationality of current trade flows, Awani noted that despite livestock abundance in countries like Nigeria, Mali, Botswana, Chad, and South Sudan, West Africa still spends over $3 billion annually importing meat from distant countries like Australia.
She stressed that reversing these patterns is not just an economic necessity but a matter of survival. “Intra-African trade is no longer diplomatic talk—it is a strategic imperative for economic recovery, resilience, and long-term prosperity,” she said.
Afreximbank, the lead promoter of the upcoming Intra-African Trade Fair (IATF) 2025 scheduled for September in Algeria, is championing trade integration through platforms that bridge market gaps and connect African producers with buyers and investors. Awani described IATF as a marketplace to facilitate trade matchmaking, business networking, and investment partnerships, helping African enterprises to scale up and expand market access.
Since inception, IATF has facilitated over $100 billion in trade and investment deals. At the 2023 edition, Nigerian businesses alone secured over $11 billion in deals, a testament to the country’s commercial potential.
“Nigeria always shows up. It must not only participate but lead in shaping Africa’s trade future,” Awani said, commending the Federal Government’s support through export-oriented special economic zones, digital customs systems, and the Export Expansion Facility Programme (EEFP).
She also highlighted joint initiatives like the African Trade and Distribution Commune—spearheaded by Afreximbank and Nigeria—to tackle cross-border challenges, promote small business growth, and reduce reliance on foreign intermediaries.
Speaking at the same event, Executive Director of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, acknowledged that Africa’s intra-regional trade—currently below 15% of total trade—is still significantly lower than Europe (67%) and Asia (58%). She called for greater investment in value-added production, cross-border collaboration, and targeted export strategies.
“We have the land, resources, and brilliant people. What we need are the three Cs: collaboration, commitment, and coordination,” Ayeni said. She revealed that Nigerian non-oil exports grew by 24.7% in Q1 2024, with 246 agricultural products exported to 126 countries.
To boost AfCFTA implementation, NEPC has mapped out 20 priority export products and five strategic markets for each. Ayeni also announced that Nigeria had begun capturing informal trade data at its borders, a move aimed at improving evidence-based policy development.
Both Afreximbank and NEPC emphasized that Africa must adopt an “Africa-first” mindset to escape the economic fragmentation engineered by colonialism. Awani concluded, “This is our moment. With the AfCFTA and platforms like IATF, we can rebuild our trade systems on African terms and for African prosperity.”
As IATF 2025 draws closer, the focus remains on equipping African entrepreneurs, policymakers, and investors with the tools, information, and networks necessary to harness intra-African trade opportunities and build a resilient, integrated economic future.