African leaders and policymakers are being urged to move beyond trade agreements and focus on practical implementation as momentum builds around the African Continental Free Trade Area (AfCFTA).

The latest signal came from the Government of Togo, which announced the removal of visa requirements for African passport holders and investors travelling into the country for short stays.

The move was highlighted during discussions at Biashara Africa 2026, where Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, called on African governments to tackle the barriers slowing intra-African trade.

“As discussions continue at Biashara Africa 2026, one message remains clear: Africa has negotiated, signed, and agreed. Now, Africa must trade,” the statement said.

Dr Oduwole, who currently serves as Incoming Chair of the AfCFTA Council of Ministers, praised Togolese President Faure Gnassingbé for what she described as “decisive action” supporting African economic integration.

She said the visa policy strengthens Africa’s ambition to create a unified market of more than 1.4 billion people.

Why It Matters

The AfCFTA is regarded as one of Africa’s most ambitious economic projects, aiming to increase trade between African countries by reducing barriers such as tariffs, border restrictions, and complex regulations.

Economists and business groups have repeatedly argued that slow visa systems, customs bottlenecks, and weak logistics networks continue to limit trade across the continent despite years of political agreements.

Togo’s latest decision is being viewed as a practical step toward easing movement for entrepreneurs, investors, and business travellers within Africa.

For Nigerian businesses, particularly startups and small enterprises, easier movement across borders could open new opportunities in sectors including technology, agriculture, logistics, manufacturing, and digital commerce.

Nigeria Pushes Startups to Lead Trade Expansion

At the event, Dr Oduwole also announced the launch of the AfCFTA Startup Acceleration Programme 2026, developed under the AfCFTA–Korea Africa Foundation partnership.

The programme is designed to support 30 high-potential African startups seeking to scale internationally, particularly into Asian markets such as Korea.

According to the statement, startups operating in fintech, e-commerce, logistics, agritech, manufacturing, and digital platforms are expected to benefit from mentorship, international exposure, and market expansion opportunities.

“The future of the AfCFTA will not be built by policy alone,” the statement added. “It will be driven by enterprises, innovators, manufacturers, digital platforms, and entrepreneurs who are ready to trade.”

As Co-Champion of Digital Trade under AfCFTA, Dr Oduwole encouraged eligible Nigerian startups to apply for the programme before the 24 May 2026 deadline.

Applications are to be submitted through the AfCFTA support channel at:

SME.Support@au-afcfta.org

Industry and Public Perspectives

Trade analysts say implementation will determine whether AfCFTA succeeds where previous regional trade agreements struggled.

Business leaders across Africa have long argued that policy announcements must translate into easier travel, lower shipping costs, faster customs processing, and improved digital payment systems.

For many young African entrepreneurs, the success of AfCFTA could depend on whether startups are given access to financing, infrastructure, and regional markets.

Technology founders in Nigeria have also increasingly positioned themselves for continental expansion as Africa’s digital economy grows.

What’s Next?

Attention is now turning toward how quickly other African countries will introduce similar measures to simplify travel and trade across borders.

Observers say the coming years will test whether governments can align policy promises with implementation capable of boosting real economic activity across the continent.

With Africa’s population and digital economy expanding rapidly, policymakers are under increasing pressure to ensure the AfCFTA delivers measurable benefits for businesses and citizens.

SIFAX Group Chairman Dr. Taiwo Afolabi has urged African entrepreneurs and investors to focus on building large and sustainable corporations that can compete on the global stage, warning that fragmented small businesses are limiting the continent’s economic growth.

Speaking on the sidelines of the Africa CEO Forum in Kigali, Afolabi said Africa’s long-term economic transformation would rely heavily on strong indigenous companies capable of driving industrialisation, attracting foreign investment, and creating jobs across the continent.

He said discussions at this year’s forum highlighted the urgent need for African businesses to embrace regional integration, collaboration, and long-term expansion strategies.

“Africa cannot achieve its full economic potential with thousands of weak and fragmented businesses operating in silos. What the continent needs are strong institutions and large corporations that can survive beyond their founders, scale across borders, attract global capital, and compete with the best companies around the world.”

Why It Matters

Africa remains home to millions of small and medium-sized businesses, many of which struggle with limited access to finance, unstable infrastructure, regulatory bottlenecks, and restricted cross-border trade opportunities.

Economic analysts say stronger African-owned corporations could help reduce dependence on foreign multinationals while accelerating industrial growth and regional trade.

Afolabi noted that entrepreneurship remains essential to Africa’s economy but said the continent must move beyond “subsistence and lifestyle businesses” towards enterprises with stronger governance structures and innovation capacity.

“The conversations at the Africa CEO Forum clearly showed that Africa’s future lies in integration and scale. The African Continental Free Trade Area (AfCFTA) presents a historic opportunity for businesses to expand beyond national borders and build truly pan-African enterprises.”

The African Continental Free Trade Area agreement, which officially began trading in 2021, aims to create a single African market by reducing trade barriers among member states.

Push for Regional Expansion

Afolabi said governments, banks, and private sector institutions across Africa must create policies that support business scalability through improved infrastructure, easier access to funding, favourable regulations, and stronger intra-African trade systems.

He added that SIFAX Group’s long-term strategy is tied to supporting the implementation of AfCFTA through investments in logistics, ports, transportation, and digital finance services across Africa.

Industry observers say logistics and transport infrastructure remain central to the success of regional trade integration under AfCFTA, particularly in West and East Africa where cross-border trade delays continue to affect businesses.

Industry Perspectives

Business experts attending the forum noted that African firms often struggle to scale due to fragmented markets, currency instability, and inconsistent regulations between countries.

Some economists argue that regional economic integration could help African businesses compete more effectively with global corporations from Europe, Asia, and North America.

The Africa CEO Forum has increasingly focused on strategies for strengthening African private sector competitiveness amid global economic uncertainty and rising trade realignments.

What’s Next?

Analysts say the success of AfCFTA and Africa’s industrial ambitions will depend on whether governments can implement reforms that encourage investment, improve infrastructure, and reduce barriers to regional commerce.

For companies like SIFAX Group, the focus is expected to remain on logistics expansion, trade facilitation, and building cross-border business networks that align with Africa’s broader economic integration goals.

Wema Bank has announced the final call for entries for its 2026 One-Day MD/CEO initiative, a Children’s Day programme that gives Nigerian children and teenagers the opportunity to serve as the bank’s Managing Director and Chief Executive Officer for one day.

The bank said submissions close on Wednesday, May 20, 2026, with interested participants urged to submit their entries before the deadline.

The initiative, first launched in 2025 during Wema Bank’s 80th anniversary celebrations, was designed to inspire leadership, creativity and ambition among young Nigerians.

Why the Initiative Matters

The competition is part of Wema Bank’s broader campaign themed “80 Years of Impact, A Future of Possibilities.”

According to the bank, the project seeks to connect young Nigerians with leadership opportunities and expose them to executive decision-making at an early age.

The winner will spend Monday, May 25, 2026, acting as the bank’s MD/CEO during the Children’s Day celebration.

The selected child will participate in board-level activities, observe strategic meetings and experience the responsibilities involved in managing one of Nigeria’s oldest indigenous financial institutions.

Wema Bank is widely known as the pioneer of Africa’s first fully digital bank, ALAT.

How Children Can Participate

To enter the competition, children and teenagers aged 0 to 16 are expected to create a 60-second video explaining:

Their ideal role in banking

What they hope to achieve in the future

Participants must post the video on social media using the hashtag #EvolutionOfPossibilities while tagging Wema Bank’s official social media account, @wemabank.

The bank said the participant with the highest number of likes will emerge winner.

Recall of 2025 Winner

The initiative generated widespread attention during the 2025 Children’s Day celebration after 12-year-old Chiderije Mbah emerged winner.

The campaign trended across social media platforms, with many parents and education advocates praising the programme for promoting youth empowerment and leadership development.

The bank says this year’s edition will be bigger and more competitive.

“The initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day,” the bank stated.

Industry and Public Perspective

Youth development advocates say initiatives like this can help children build confidence and career awareness at an early stage.

Education stakeholders have increasingly encouraged Nigerian companies to invest in mentorship and experiential learning programmes, especially as digital banking and technology continue reshaping the country’s workforce.

Analysts also note that campaigns focused on children and innovation can strengthen brand loyalty while encouraging financial literacy among younger Nigerians.

What Happens Next?

The winning child will officially assume the symbolic role of Wema Bank’s Managing Director/CEO on May 25, 2026, ahead of Children’s Day celebrations nationwide on May 27.

Parents and guardians have also been encouraged to support children participating before the submission window closes.

Further details are available on the bank’s verified social media pages.

https://www.wemabank.com