Afreximbank Stresses Customs Innovation, Private-Sector Investment as Key to Unlocking Africa’s AfCFTA Potential
Africa stands at a pivotal moment where modern infrastructure, efficient trade systems, and private-sector–driven industrialisation will determine the continent’s ability to fully capitalise on the African Continental Free Trade Area (AfCFTA).
Speaking at the Nigeria Customs Service’s CUSTOMS PACT – Partnership for African Cooperation in Trade, Afreximbank’s Director of Client Relations for Anglophone West Africa, Peter Olowononi, delivered a keynote on “Accelerating Trade Facilitation and Regional Integration in Africa: Customs Innovation, Private Sector Investment, and Infrastructure under AfCFTA.”
Olowononi stressed that customs efficiency, modern border processes, and interoperable systems are now central to boosting intra-African trade and shielding economies from external shocks. “For customs administrations, the mandate extends beyond border control,” he said, “it includes enabling seamless movement of goods, lowering logistics costs, and strengthening regional value chains.”
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He highlighted Afreximbank’s support for private-sector infrastructure and industrial projects, including financing the Dangote Refinery, facilitating haulage and distribution for Dangote Cement and BUA Cement, and expanding urea fertilizer production through Dangote Fertilizer, Indorama, and Notore. These initiatives, he noted, are already enhancing supply chains and enabling broader access to regional markets.
Olowononi called for deeper collaboration between customs agencies and private enterprises, warning that without efficient trade processes, Africa’s industrial gains cannot translate into meaningful market integration. He emphasised the need for customs innovation, digital systems, and harmonised border procedures to elevate intra-African trade and drive inclusive economic growth.
He concluded by inviting bankable and early-stage proposals from private-sector players seeking financing or technical support to scale export-oriented manufacturing, reaffirming Afreximbank’s commitment to advancing value-added production across the continent.
Afreximbank Stresses Customs Innovation, Private-Sector Investment as Key to Unlocking Africa’s AfCFTA Potential