Growth across Africa is increasingly defined not by ambitious plans, but by the practical challenges of implementation, according to discussions at the 2026 Africa Business Convention (ABC) held earlier this month. The convention, themed “Africa Grow,” brought together policymakers, business leaders, and development partners to assess the continent’s economic trajectory, with a focus on translating policy into tangible results.
The ABC underscored a shift in focus from aspirational goals to the concrete steps needed to unlock Africa’s economic potential. Discussions spanned critical areas including fiscal stability, trade integration, food security, public-private partnerships, and innovation. Dr. Ogho Okiti, Chief Executive Officer and convener of the ABC, emphasized the convention’s role in accelerating economic transformation through strengthened collaboration between the public and private sectors, aiming to drive enterprise, investment, and inclusive growth. Since its inception, the forum has operated around six core pillars designed to stimulate policy reform, foster business partnerships, and secure concrete investment commitments.
A central theme was the African Continental Free Trade Area (AfCFTA), now viewed as a crucial test of the continent’s ability to move beyond agreement and into effective action. Wamkele Mene, Secretary-General of AfCFTA, stated that the continent is now firmly in the implementation phase, with 50 countries having ratified the agreement. Early indicators are positive, with intra-African trade reaching approximately $220 billion in 2024, largely propelled by private sector activity. Small and medium-sized enterprises (SMEs), which contribute roughly half of Africa’s GDP, are playing a pivotal role in this momentum.
Mene stressed the distinct roles of government and the private sector, noting that governments are responsible for creating enabling frameworks, while businesses are the primary drivers of trade. He highlighted Nigeria’s recent emergence as Africa’s largest export destination for the country over the past 18 months, a development he cited as evidence of deepening regional integration. However, he cautioned against expecting rapid transformation, acknowledging that dismantling decades of fragmented trade systems will be a protracted process.
Beyond trade statistics, panellists argued that the true measure of growth lies in its impact on the daily lives of Africans. Modupe Odele, Managing Partner at VAI Law, asserted that meaningful growth is reflected in the ease with which individuals and businesses can move goods, capital, and people across borders. She pointed to persistent obstacles such as restrictive visa regimes, inadequate logistics, and payment challenges, noting that only around 28 percent of intra-African travel is currently visa-free. For Odele, growth becomes truly impactful when small traders can operate seamlessly across borders without being burdened by complex bureaucratic procedures.
The convention also explored the economic potential of Africa’s cultural industries. Lilian Olubi, Chief Executive Officer of Lily’s Global Services and a filmmaker, highlighted the economic value of African storytelling, describing it as both a cultural expression and a vital economic infrastructure. She noted the global appeal of African narratives, their capacity to generate employment, and their influence on perceptions. However, she cautioned that the sector remains hampered by weak intellectual property protection, limited access to capital, and reliance on foreign-owned distribution platforms.
Discussions on business sustainability revealed key factors contributing to the longevity of African companies. Muyiwa Matiluko, Chief Executive Officer of Business Front, identified location, service to mass markets, and patience as crucial elements for businesses that have thrived for over five decades. He observed that many enduring African businesses prioritize steady growth over rapid expansion, focusing on essential goods and services that address everyday needs.
Infrastructure gaps, particularly in the digital realm, were also a prominent concern. Speakers emphasized that technology-driven growth cannot outpace the development of basic infrastructure, especially reliable power supplies. Dr. Krishnan Ranganath, Regional Executive for West Africa at Africa Data Centres, highlighted the sensitivity of data centres and digital infrastructure to power instability, arguing that Africa’s challenge is not a lack of capital, but a shortage of well-structured, bankable projects.
The discussion surrounding artificial intelligence (AI) was tempered with caution. Speakers warned against blindly adopting Western timelines for AI implementation, emphasizing the need to consider Africa’s unique realities. They cautioned that premature adoption without adequate skills development, job creation, and infrastructure could exacerbate inequality rather than promote inclusion.
As the convention concluded, a central message emerged: Africa’s growth must be anchored in functional systems, open borders, reliable power, sustainable businesses, and inclusive institutions. The Africa Business Convention, now in its fifth year, has established itself as a key platform for business-to-business dialogue, deal-making, and investment collaboration, having attracted over 8,700 participants and more than 140 speakers since its launch in .
The emphasis on execution over ambition reflects a growing recognition that Africa’s economic potential will only be realized through sustained effort, strategic investment, and a commitment to addressing the practical challenges that impede growth. The success of the AfCFTA, and the broader economic transformation of the continent, will depend on the ability of governments and the private sector to translate agreements into action and deliver tangible benefits to the people of Africa.
