Banking
How Access Bank is Linking Africa’s Landlocked Markets
At the Africa Trade Conference (ATC) 2026 held in Cape Town, South Africa, policymakers, financiers, and global business leaders gathered to confront one of Africa’s most persistent economic constraints: the continent’s vast trade financing gap.
Hosted by Access Bank Plc, the conference brought together stakeholders from governments, development finance institutions and the private sector to explore how Africa can transform its fragmented trade ecosystem and unlock the promise of the African Continental Free Trade Area.
The central message emerging from the discussions was clear: Africa must move from being a continent of landlocked markets to a network of land-linked economies, connected through finance, infrastructure and digital trade systems.
Turning Vision into Velocity
The conference, themed “Turning Vision into Velocity: Building Africa’s Trade Ecosystem for Real-World Impact,” focused on translating policy ambition into practical solutions for businesses across the continent.
Delivering the welcome address, Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, emphasised that Africa must confront the structural barriers that continue to limit intra-continental commerce.
“The reality is that Africa still controls a small share of global trade,” Ogbonna said. “The corridors are still fragmented and more aspirational than functional, and too many small businesses that aspire to trade across Africa remain constrained.”
According to him, the conference was convened to continue the conversation begun at its inaugural edition in 2025, focusing on how Africa can expand trade within the continent while strengthening its participation in global markets.
“This conference must not end as another talking shop,” he said. “It must become the birthplace of a movement that contributes to transforming intra-African trade.”
For Access Bank Plc, the role of financial institutions in that transformation is evolving.
“At Access Bank, we see ourselves as financiers and connectors of markets, ideas and opportunities,” Ogbonna noted. “Our role is to help African businesses move from ambition to impact, from local relevance to global competitiveness.”
Bridging Africa’s Trade Finance Gap
Despite its abundant natural resources and population of more than 1.3 billion people, Africa remains underrepresented in global trade flows.
One of the biggest barriers is the lack of accessible financing for exporters, manufacturers and small businesses seeking to expand across borders. The trade finance gap continues to constrain intra-African commerce, which remains significantly below levels recorded in other regional trading blocs.
To address this, Ogbonna highlighted three strategic priorities that emerged from the previous edition of the conference: breaking down silos between policymakers, financial institutions and businesses; building a trade ecosystem powered by reliable data and analytics, and developing systems that support both large corporations and smaller businesses expanding across borders
Encouragingly, he noted that progress is already emerging across several sectors.
“We have seen value chains emerging across agriculture, manufacturing and services, and we are seeing African brands crossing borders and building a global presence,” he said.
Nevertheless, the gains remain uneven across the continent, with progress concentrated in a few markets and trade corridors.
Financing the Future of African Trade
Beyond the structural challenges of trade finance and infrastructure, the conference also explored the evolving financial architecture required to unlock Africa’s full trade potential.
Keynote addresses were delivered by Kennedy Mbekeani, Director General for the Southern Africa Region at the African Development Bank, and Kwabena Ayirebi, Managing Director of Banking Operations at the African Export-Import Bank.
Both speakers emphasised the need for stronger collaboration among development finance institutions, commercial banks and governments to mobilise the capital required to drive infrastructure development and support trade across the continent.
Mbekeani stressed that private capital would be crucial in bridging Africa’s infrastructure financing gap.
“The mobilisation of private capital remains crucial as many African governments are constrained by limited fiscal space and overstretched balance sheets,” he said.
“The mobilisation of capital, particularly private capital, is something that we need to work on.”
The conversation was further enriched by insights from Tolu Oyekan, Managing Director and Partner at Boston Consulting Group, who presented the Africa Trade Outlook 2026.
His presentation highlighted the macroeconomic forces shaping the future of African trade, including shifting global supply chains, the growing importance of regional value chains and emerging opportunities for African industries to capture greater value in global markets.
Digital infrastructure and payments were also central to the conversation.
Mike Ogbalu, Chief Executive Officer of the Pan-African Payment and Settlement System, underscored the importance of payment interoperability in enabling seamless cross-border transactions across the continent.
Efficient payment systems, he noted, are essential to reducing the cost and complexity of trading across African borders, particularly for small and medium-sized enterprises.
Policy, Finance and Partnerships
The conference also convened a high-level ministerial panel that brought together policymakers and financial sector leaders to examine the policy environment required to accelerate Africa’s economic integration.
Participants included Elizabeth Ofosu Adjare, Ghana’s Minister for Trade, Agribusiness and Industry, and Tiroeaone Ntsima, Botswana’s Minister of Trade and Entrepreneurship, alongside senior executives from international financial institutions.
Together, they explored how regulatory alignment, infrastructure development and innovative financing structures can accelerate the implementation of the African Continental Free Trade Area and unlock intra-African trade.
The objective, participants agreed, was not merely dialogue but partnership, bringing together the policymakers, financiers and businesses capable of translating Africa’s trade ambitions into tangible outcomes.
Reimagining Africa’s Economic Geography
Beyond policy discussions and financing strategies, the conference reflected a deeper shift in how Africa views its economic geography.
For decades, the continent’s development challenges have often been framed in terms of physical constraints: landlocked economies, fragmented markets and weak infrastructure.
But the emerging vision presented in Cape Town suggests a different future, one where integrated banking networks, digital payment systems and trade finance platforms transform isolated markets into connected trade corridors.
For Access Bank Plc, that transformation is already underway.
With operations spanning 25 countries globally, including 16 across Africa, the bank is building financial corridors that link African businesses to each other and to global markets.
From Potential to Participation
The conversations at the Africa Trade Conference reinforced a growing consensus across the continent: Africa’s economic transformation will depend on policy reforms and institutions capable of financing and facilitating trade.
Banks, development finance institutions and payment platforms are increasingly becoming the connective tissue linking African markets.
For Access Bank, the ambition is clear, helping reshape the narrative of African trade.
From isolated markets to integrated corridors. From landlocked constraints to land-linked opportunity. And from economic potential to meaningful participation in the global trading system.
Needing money fast is a common problem in Nigeria. Rent is due, or a small business runs short on stock money before the next sale. In the past, getting a loan from a bank meant paperwork, a guarantor, and sometimes property as collateral. That process could take weeks. Today, things have changed. Several licensed digital lenders in Nigeria now offer personal loans without collateral, and the entire process can be completed from a phone in under an hour.
This article explains how no collateral loans work in Nigeria, what lenders actually check before approving you, and how to avoid the mistakes that get loan applications rejected or, worse, land borrowers with apps that are not properly registered.
What “No Collateral” Really Means
A collateral loan asks you to pledge something of value, like land, a car, or a fixed deposit, as security. If you fail to repay, the lender has a legal right to seize that asset. Most working Nigerians do not have assets like this sitting idle, which is exactly why no collateral loans exist.
Instead of asking for property, digital lenders look at other signals to judge whether you can repay:
- Your Bank Verification Number (BVN) or National Identification Number (NIN), used to confirm your identity
- Your bank account history, which shows whether money moves in and out regularly
- Your mobile money or airtime usage in some cases, which hints at your financial activity
- Your repayment history with other lenders, if you have borrowed digitally before
This is why an app like LendSafe can approve a loan in minutes. There is no waiting for a bank manager to review your file. The decision is based on data you provide once, during registration.
Steps to Get a Quick Loan Without Collateral
The process is fairly similar across most reputable Nigerian loan apps, though the details differ slightly.
- Download a licensed loan app: Always check that the app is registered with the Federal Competition and Consumer Protection Commission (FCCPC) before installing it. Unregistered apps are the ones most often linked to harassment and hidden charges.
- Register with your phone number and basic details: Most apps ask for your name, phone number, and BVN or NIN to verify who you are.
- Answer a few simple questions: This usually covers your employment status, income range, and sometimes your address.
- Wait for your credit limit: Based on the information provided, the app calculates how much you qualify to borrow. This step typically takes a few minutes.
- Choose your loan amount and repayment plan: Pick an amount you are confident you can repay on time, not the maximum offered.
- Receive the funds: Once approved, money is sent directly to your bank account, often within minutes.
What to Check Before You Borrow
Before accepting any loan offer, confirm the following:
- The interest rate and total repayment amount: A lender should show you exactly how much you will repay, not just how much you will receive.
- The repayment date and any penalty for late payment: Missing a date by accident should not lead to extreme charges.
- The lender’s registration status: Reputable lenders, such as those operating under the FCCPC’s Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, are required to disclose their licensing details. If an app cannot show this, treat it as a warning sign.
- What permissions the app is requesting: A lender does not need access to your entire photo gallery or contact list to process a personal loan. Be cautious of apps that ask for more access than necessary.
Why ‘No Collateral’ Does Not Mean No Responsibility
Some borrowers assume that because no asset is on the line, a missed payment carries no real consequence. This is not true. Digital lenders report repayment behaviour to credit bureaus in Nigeria, including CRC Credit Bureau and CreditRegistry. A pattern of late or missed payments can affect your ability to borrow in the future, even from a different lender entirely.
The safest approach is to borrow only what you need and only when you are sure of your repayment date. A loan app should support a short-term need, not become a constant source of stress.
Conclusion
No collateral loans have made it possible for ordinary Nigerians, salaried or self-employed, to access quick cash without the long process traditional banks require. The key is choosing a lender that is properly licensed, transparent about costs, and respectful of your data and privacy. Apps that are upfront about their fees and regulatory status, like LendSafe by SmartLoans, are generally a safer place to start than apps with no clear company information behind them.
Before your next financial emergency arrives, it is worth knowing which licensed apps you can trust and how the no-collateral process actually works. That knowledge alone can save you from a costly mistake.
By Adedapo Adesanya
African payments technology giant, Paystack, has launched the Paystack Small Business Programme to support Nigerian small businesses through a range of initiatives designed to help them grow, connect with relevant opportunities, and access funding for their next stage of growth.
The initiative will support businesses as they start, manage and grow their operations, starting with the Paystack Small Business Bundle.
The bundle gives eligible Nigerian merchants access to up to N4 million in discounts on tools and services from selected partners across key areas of business operations, including commerce, bookkeeping, logistics, design, workspace, customer communication, and digital tools.
In the pilot phase, Paystack is targeting 2,000 Nigerian SMBs for the Small Business Bundle, with additional partner offers expected over time.
According to the company, in a statement on Monday, small businesses play a significant role in Nigeria’s economy, but many still face everyday operational challenges, from managing sales and records, reaching customers, handling deliveries, and accessing affordable tools.
As a result, the programme has been developed to provide practical support for these businesses as they manage daily operations and plan for their next stage of growth. Through the Small Business bundle, eligible merchants can access offers from partners including Bumpa, Ijeworks, Wiicreate, Flowcart, Simplebks, Africaworks, Paystack, Kindlybook, FezDelivery, Gamp, Pressone, Mercurie, Shuttlers and Canva.
The Paystack Small Business Programme will commence with three key initiatives designed to support the growth and sustainability of small businesses. These include the Paystack Small Business Bundle, which offers a range of tools, services, resources, and partner benefits to help businesses operate more efficiently and scale sustainably; the Paystack Small Business Launchpad, which provides dedicated, hands-on support to high-potential businesses, enabling them to maximize the value of Paystack’s solutions and accelerate growth; and the Paystack Small Business Grant, which offers financial support to promising businesses to help fund their next phase of expansion and development.
The Bundle is available to eligible Nigerian merchants with a live Paystack account, at least 10 Paystack transactions in the last 30 days, and operations in Nigeria.
Eligible merchants can visit the Small Business Bundle Page to browse available partner offers, submit their business details and receive redemption instructions once their eligibility has been confirmed.
By Seun Oyediran
The Nigerian economic landscape is defined by the resilience of its micro, small, and medium-sized enterprises (SMEs). From the high-traffic supermarkets of Lagos to the critical distribution hubs supporting the hinterlands, millions of entrepreneurs drive our domestic commerce. Yet, a recurring theme persists in our boardroom discussions and macroeconomic reviews: the “missing middle.” While demand remains robust across various sectors, limited access to financing remains one of the several constraints affecting SME growth, effectively putting a limit on how much the country’s economy can grow.
The data provided by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is unequivocal. SMEs constitute approximately 96% of all domestic businesses, contributing nearly 50% of the national GDP and employing over 80% of the workforce. They are not merely a segment of the economy; they are the economy. However, the International Finance Corporation (IFC) continues to highlight a staggering credit gap. This structural bottleneck means that even businesses with proven product-market fit are often unable to fulfill orders, optimize inventory, or expand their footprint, simply because traditional capital remains inaccessible.
Merchant credit represents one financing option available to support working capital and inventory management needs. Unlike the rigid structures of traditional commercial lending, merchant credit is purpose-built for the velocity of trade. By injecting capital directly at the point of need, specifically for inventory replenishment, business expansion and equipment acquisition, it may help address short-term liquidity requirements for eligible businesses. For a merchant, the inability to stock goods is not just a missed sale; it is a loss of market share and a regression in cash flow momentum. Merchant credit may help eligible businesses address short-term liquidity constraints and support inventory management.
From a risk management and credit perspective, the evolution of digital financial services has revolutionised how we view SME creditworthiness. Historically, the absence of collateral or formal credit histories led to the systemic exclusion of many viable businesses. A data-driven approach shifts the focus from static assets to dynamic performance, enabling lenders to deploy capital into businesses demonstrating sustainable operational performance.
The macroeconomic implications of optimising merchant credit are profound. Access to appropriately structured financing may contribute to broader economic activity, employment, and business expansion. In the context of Nigeria’s urgent need to diversify away from hydrocarbon dependence, the private sector, and SMEs in particular, must remain an important contributor to economic development. To build globally competitive brands and export-led enterprises, we must move beyond the rhetoric of “supporting” small businesses and transition toward integrating them into modern credit value chains.
The strategic imperative is clear. The chasm between a local business and a regional champion is rarely a lack of ambition; it is access to capital that remains a significant constraint for many businesses. If we are to foster a new generation of African industry leaders, we must prioritise the deployment of flexible, data-driven financing solutions. When responsibly structured and appropriately deployed, merchant credit can support business growth, inventory management, and operational continuity for eligible enterprises.
Seun Oyediran, Director, Merchant Lending
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