20th March 2026
Dr Kennedy Mbekeani, Director-General for Southern Africa at the African Development Bank (AfDB), has called for stronger policy alignment and private capital mobilisation to unlock Africa’s trade potential under the African Continental Free Trade Area (AfCFTA). Speaking at the 2026 Africa Trade Conference in South Africa, Mbekeani emphasised that Africa possesses the resources, institutions, and capital needed for development but must build confidence in its own systems and harmonise policies to accelerate economic growth and regional integration.
He highlighted that the AfCFTA provides a major opportunity to transform Africa into a single market capable of boosting production, consumption, and intra-African trade. “Africa 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,” Mbekeani said. He noted that Africa’s large population and abundant natural resources position the continent to build one of the world’s largest consumer markets if governments create enabling environments for businesses.
Mbekeani urged governments to deepen public-private partnerships in critical sectors such as energy, transport, water, and education to bridge infrastructure gaps. Successful examples across several countries show that private investors can deliver essential infrastructure when supported by clear policies and effective regulation. He also stressed the need for African institutions to shape the narrative about the continent’s investment climate, noting that perceptions of risk are often overstated.
He added that stronger regional markets would reduce Africa’s exposure to global shocks, increase intra-African trade, strengthen supply chains, and enable local processing of resources. Mbekeani described AfCFTA as a historic opportunity to build a truly integrated African market and called on governments, financial institutions, and businesses to take concrete steps to turn the vision into reality.
Also speaking, Mr Mike Ogbalu, CEO of the Pan-African Payment and Settlement System (PAPSS), highlighted that high transaction costs and fragmented payment systems have long hindered African trade. PAPSS allows businesses and individuals to make cross-border payments in local currencies within seconds, eliminating the need for third-party currencies and correspondent banks. The platform currently operates in about 20 African countries, connecting more than 170 banks and fintech firms, and has reduced cross-border payment costs by over 98 percent while maintaining compliance with global standards.