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Afreximbank Taps Nigeria to Lead Africa’s Digital Trade Revolution
Yemi Kale, Afreximbank’s Group Chief Economist, yesterday said that Nigeria is positioned to drive Africa’s transition into a digitally enabled trade ecosystem, arguing that the country’s demographic strength and emerging innovation hubs give it a competitive edge as the continent reshapes its economic future under the African Continental Free Trade Area (AfCFTA).
Speaking in Abuja on Thursday at Afreximbank’s high-level forum on trade intelligence and digital innovation, themed “Unlocking Nigeria’s Trade and Investment Potential Through Digital Innovation and the Abuja AATC”, Kale said Africa is “at a defining inflection point” that will determine whether it reacts to global economic shifts or helps shape them.
He noted that the AfCFTA’s unified market—covering more than 1.3 billion people and a combined GDP of $3.4 trillion—offers countries like Nigeria a historic opening to boost industrialisation and deepen regional value chains. “The AfCFTA presents a unique once-in-a-generation opportunity to expand and strengthen regional value chains,” Kale said.
He added that deeper integration will help African economies diversify away from primary commodities and build resilience against external shocks, long-standing vulnerabilities that have limited growth across the continent.
Kale said digital transformation is now the most powerful lever to unlock the AfCFTA’s potential, as African economies still face fragmented markets, high logistics costs, weak trade data systems and cross-border payment frictions.
He argued that digital tools—from automated customs processing to e-commerce platforms and blockchain-enabled documentation—could sharply cut transaction costs and improve market access for Nigerian firms.
“Digital innovation is therefore not just the engine of trade—it is the new highway on which African commerce will travel,” he said. “Those who build and use this highway early will lead tomorrow’s markets.”
He cited Rwanda’s digital single-window system, which cut export processing times by more than 90%, and Africa’s mobile-money infrastructure, which handles more than $800 billion annually, as examples of what digital trade systems can deliver at scale.
Kale also highlighted the Pan-African Payment and Settlement System (PAPSS), which enables cross-border payments in local currencies and is expected to save African businesses billions in conversion costs.
He illustrated the transformative impact of digital tools with the story of a young leather-goods exporter from Kano who turned a small operation into a cross-continental business after adopting digital trade platforms and digital payments. “Her success is a clear example of how digital innovation can turn local ambition into continental and global opportunity,” he said.
Nigeria, he added, has the natural ingredients to lead Africa’s digital trade surge, including a young population, a fast-growing technology sector, and entrepreneurs who are already building products for global markets.
“We are a nation of entrepreneurs, creators and problem-solvers, and our demographic advantage is unmatched,” Kale said.
With 65% of Nigerians under age 25, he said the country’s youth “are founding technology start-ups, writing software code, designing digital solutions, and shaping entirely new industries.”
Afreximbank, he disclosed, intends to play a catalytic role by financing trade and investment, strengthening regional value chains and rolling out digital infrastructure through the Africa Trade Gateway (ATG).
The Gateway integrates trade information, due-diligence tools, market insights and secure payment systems—capabilities he described as essential for businesses aiming to scale across Africa.
Kale said Nigeria’s leadership is already evident with the launch of the Abuja Afreximbank African Trade Centre (AATC), which he described as both a strategic asset and symbolic commitment to modernising Africa’s trade architecture.
The centre combines conference facilities, SME incubation hubs, trade-information services and access to the ATG under one roof, and is the first in a planned network of one-stop trade centres across Africa and the diaspora.
Urging policymakers and private-sector leaders to seize the moment, Kale stressed, “If we commit to digital transformation, to collaboration, and to bold, forward-looking action, then Africa will not only participate in the global economy—we will shape it.”
He further argued that a digitally integrated continent would unlock new opportunities for farmers, creatives, SMEs and young innovators. “This is not a distant dream,” he said. “It is a future within our reach.”
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
News
IHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
Communications infrastructure company, IHS Nigeria, has donated business support equipment to empower people with disabilities within the Karonmajiji community in the Federal Capital Territory, Abuja. This is part of the company’s commitment to drive inclusive community development and sustainable livelihood support under its Project Empower initiative.
The equipment was distributed to beneficiaries during a ceremony held in the community on Monday, July 27. The initiative was conceived following a community needs assessment and is designed to empower active traders by providing them with business tools rather than cash grants, thereby strengthening their businesses and ensuring long-term economic impact and accountability.
Speaking at the event, Director, Sustainability, IHS Nigeria, Titilope Oguntuga, described the initiative as a reflection of the company’s commitment to advancing inclusive development by equipping persons with disabilities with the tools and opportunities needed to build resilient livelihoods.
She explained that rather than providing short-term financial assistance, IHS Nigeria adopted an asset-based approach by donating 50 pieces of business support equipment, including sewing machines, freezers, generators and hairdressing kits, to the selected beneficiaries.
According to her, the intervention is designed to create lasting value by supporting entrepreneurship, promoting self-reliance and strengthening household incomes, while contributing to the achievement of the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).
In his opening remarks, the Chief of the Karonmajiji Disabled Community, Alhaji Sulaiman Muhammed Katsina, represented by the Secretary of the Community, Alhaji Mohammed Dantani commended IHS Nigeria for its commitment to empowering persons with disabilities through practical and sustainable interventions.
He described the initiative as a demonstration of genuine partnership with the community and expressed appreciation for the company’s continued engagement with the Association, noting that the donation of the equipment was a significant investment in improving the livelihoods of persons with disabilities and would create meaningful economic opportunities for the beneficiaries and their families.
The event brought together traditional rulers, government representatives, leaders and members of the Karonmajiji Disabled Community Association, implementing partners, including Field of Skills and Dreams Vocational Technical and Entrepreneurship (FSD VTE) Training Institute and other community stakeholders, reaffirming a shared commitment to promoting inclusion and sustainable community development.
Project Empower reinforces IHS Nigeria’s commitment to advancing sustainable development through strategic partnerships that promote economic inclusion, strengthen community resilience and create opportunities for underserved communities.
The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.
Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.
The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”
The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.
Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.
He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.
ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.
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