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.
Banking
Flutterwave Partners PayPal’s Xoom to Enable Direct Money Transfers to Nigeria
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
Banking
ProvidusUnity Bank, gener8tor Launch Nigeria Lightning Rounds for Startups
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
Banking
NDIC Begins Verification of Depositors of 46 Failed Microfinance Banks
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.


