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Access Bank’s Africa Trade Conference Ignites New Era of Intra-Africa Commerce

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Access Bank Plc has successfully hosted the inaugural Africa Trade Conference in Cape Town, South Africa, bringing together industry leaders, policymakers, and trade experts to drive solutions for accelerating intra-African trade and unlocking the continent’s economic potential.

The conference tackled critical challenges, including limited access to capital, market information gaps, trust deficits between trading partners, and the urgent need for modernised trade infrastructure.

Roosevelt Ogbonna, Managing Director/CEO of Access Bank, delivered the opening remarks, setting the tone for discussions by highlighting the critical barriers hindering trade across Africa. He emphasised the urgent need for financial sector collaboration to facilitate seamless access to capital and foster a business environment where African enterprises can scale and compete globally. “We must invest in the initiatives that ensure that we can bring businesses together, forge trust, and create the connections necessary for trade. In doing so, we must stamp out the narrative that ‘Made in Africa’ is inferior to any product made anywhere else in the world. We must buy Africa, be proud to wear Africa, and invest in Africa because that is what the continent needs to leap forward into the next generation,” Ogbonna stated.

With Africa’s population projected to surge to 2.5 billion by 2050 from 1.2 billion, the African Continental Free Trade Area (AfCFTA) stands as the most significant free trade initiative since the formation of the World Trade Organisation.

By fostering economic integration, AfCFTA has the potential to reshape trade dynamics across the continent, creating a unified market that enhances industrialization, boosts employment, and strengthens Africa’s global competitiveness.

Recognising this transformative opportunity, H.E. Wamkele K. Mene, Secretary-General of AfCFTA, emphasised the urgency of fully implementing the agreement to unlock its immense benefits.

“The AfCFTA is not just a trade agreement; it is an instrument for Africa’s industrialization and economic sovereignty. It is a tool that will enable us to break down historic trade barriers and build an Africa that is self-sufficient, competitive, and prosperous. But for this to happen, we must commit to operationalising the agreement fully, ensuring that businesses, particularly SMEs and women-led enterprises, have access to the information, capital, and platforms they need to thrive,” Mene stated.

Also, Kanayo Awani, Executive Vice President of Afreximbank, emphasised the importance of financing mechanisms that support African businesses in their expansion across borders.

She reaffirmed Afreximbank’s commitment to championing trade finance solutions and infrastructure investments that will unlock Africa’s trade potential. “At Afreximbank, we understand that trade finance is the lifeblood of economic development. Without it, businesses cannot scale, industries cannot innovate, and Africa cannot fully realise its trade potential. This is why we have developed instruments such as the Pan-African Payment and Settlement System (PAPSS) to facilitate seamless transactions across borders, reducing reliance on foreign currencies and strengthening intra-African trade,” Awani remarked.

The conference featured an insightful testimonial from Nathalie Louat, Global Director at the IFC/World Bank Group, who pointed out the pivotal role of trade finance in enabling cross-border transactions and supporting financial inclusion. She underscored the long-standing partnership between IFC and Access Bank in fostering Africa’s economic resilience.

Several high-level panel discussions explored strategies to overcome trade barriers and enhance market access through innovative solutions.

Experts from leading institutions, including Deutsche Bank, Traydstream, OWP Partners, Fiducia International, and more, examined how infrastructure improvements, digital solutions, and policy harmonisation could drive economic growth and boost intra-African trade.

Dr. Marc Auboin from the World Trade Organization (WTO) shared key insights on how digital transformation is reshaping Africa’s supply chain landscape, creating efficiency and unlocking new global market opportunities.

Tanya Dos Santos-Ford from GIBS Business School also led a session on sustainable trade practices, emphasising the need for environmentally responsible economic growth strategies.

The event culminated in an awards ceremony recognising outstanding contributions to intra-African trade and economic transformation. Tradepass Commodities Limited (Ghana), Chemaf International FZE (DR Congo), and Harvest Group of Companies (Zambia) were honoured for their impact on SMEs and women-led trade enterprises.

Bulkstream Limited (Kenya) and Electricidade de Moçambique (Mozambique) received awards for advancing intra-African trade, while Tennant Metals South Africa Pty Ltd was recognised as an Emerging Leader in Trade.

The International Finance Corporation (IFC) was awarded the Climate Finance Leadership Award, while Afreximbank received the Champion of Intra-African Trade Award.

The African Development Bank (AfDB) and Africa Finance Corporation (AFC) were celebrated for their roles in economic transformation and infrastructure finance, respectively.

The prestigious African Icon Award was presented to IHS Group, Dangote Industries Limited, and MTN Group Limited for their significant contributions to Africa’s economic progress.

As the conference ended, Seyi Kumapayi, Executive Director, African Subsidiaries at Access Bank, reaffirmed the institution’s commitment to supporting trade finance, fostering regional integration, and championing policies that create an enabling environment for businesses across Africa.

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₦20m Prize Pool: Ecobank’s Top 20 InnovateX Finalists Emerge

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Ecobank Nigeria has announced the Top 20 finalists for InnovateX 2026, its flagship youth innovation challenge powered by Blaze by Ecobank in partnership with Verve. The finalists emerged from a competitive selection process involving 168 teams, comprising 672 undergraduate students from 90 universities across Nigeria.

The grand finale, scheduled for October 30, 2026, at the Ecobank Pan African Centre (EPAC), Lagos, will see the finalists compete for top honours and a share of the ₦20 million prize pool. Five teams will emerge as winners, while the remaining 15 teams will receive consolation prizes and further exposure within Nigeria’s innovation ecosystem.

InnovateX is a youth innovation and entrepreneurship challenge designed to empower young Nigerians to develop and pitch innovative solutions to real-world challenges across banking, technology, business and society. The initiative provides a platform for young innovators to showcase their ideas, compete for financial support and access opportunities for mentorship, skills development and career advancement.

The Top 20 finalists represent diverse sectors, including financial technology, artificial intelligence, sustainability, digital services, education, and enterprise solutions. Among the selected teams are IncluFi, Aselabs, Team Vhorde, Jolt, Kredo, Levromat, Konvoy, Impact, Barrow and Leopard Skin.

Designed for young people aged 16 to 25, InnovateX 2026 attracted aspiring entrepreneurs and innovators seeking to develop practical solutions to real-world challenges. Beyond financial support, participants stand to benefit from mentorship, skills development, industry exposure, networking opportunities and national recognition.

The selection process culminated in regional hackathons held in Lagos, Port Harcourt and Abuja, where participating teams pitched their ideas before panels of industry experts, technology leaders and innovation mentors.

InnovateX provides a platform for engaging emerging talent and encouraging entrepreneurship, connecting Ecobank with promising young Nigerians while reinforcing the Bank’s commitment to digital transformation, innovation and youth empowerment.

Speaking on the initiative, Victor Yalokwu, Head, Products & Analytics, Ecobank Nigeria, said: “InnovateX reflects our commitment to nurturing the next generation of innovators by providing access to the resources, networks, and opportunities they need to transform bold ideas into scalable and impactful ventures.”

Through initiatives such as InnovateX and Blaze by Ecobank, the Bank continues to create opportunities for young people to develop entrepreneurial skills, advance innovative ideas and contribute to economic growth across Nigeria and Africa.

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Green Finance and Sustainability: UBA Launches Group-Wide Climate Action Week

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a Group-wide Climate Action Week to deepen climate awareness, promote responsible environmental practices and advance sustainable finance across its African and international operations.

The five-day campaign, running from October 26 to 30, 2026, is themed “Banking on Africa’s Climate Future” and reflects the Bank’s commitment to integrating environmental responsibility into its operations, customer engagement and financing solutions.

The initiative commenced with the deployment of waste segregation bins across UBA offices and measures to reduce the use of single-use plastics at the Bank’s head offices. These activities underscore UBA’s commitment to translating sustainability principles into practical actions within its workplace and across its wider ecosystem.

Throughout the week, UBA will disseminate educational content across its media and digital platforms to highlight the causes and consequences of climate change, including its impact on food prices, energy consumption and urban flooding. The campaign will also promote responsible plastic disposal, recycling and the critical role of financial institutions in financing clean energy, sustainable agriculture and other environmentally responsible businesses.

As part of the campaign’s community engagement component, UBA staff volunteers will participate in a Group-wide clean-up exercise on Saturday, November 7, in major cities across its markets. In Nigeria, the exercise will take place in Lagos, Kano and Port Harcourt, mobilising employees to contribute directly to cleaner and healthier communities.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, emphasised the importance of collective responsibility in addressing the growing impact of climate change.

“Climate change is no longer a distant environmental concern; it is increasingly shaping everyday life across Africa. We see its effects in rising food costs, increased energy demand and flooding that disrupts homes, businesses and livelihoods.

“At UBA, we believe that building a sustainable future requires collective action, beginning with the choices we make at work, at home and in our communities. Through this Climate Action Week, we are encouraging every member of the UBA Tribe, alongside our customers and other stakeholders, to embrace practical, sustainable habits and inspire others to do the same,” Alawuba said.

As part of its stakeholder engagement activities, UBA will sponsor Climate Convergence Week in Lagos on Friday, October 30, where the Bank will deliver a speaking session and participate in a panel discussion. The engagement will provide an opportunity to showcase UBA Green Finance, highlight the Bank’s sustainability initiatives and explore how financial institutions can support Africa’s transition to a more sustainable and climate-resilient economy.

Alawuba, noted that climate considerations were increasingly important to business resilience, risk management and long-term economic growth.

“Climate change presents significant risks to businesses, communities and economies. These risks can affect business continuity, operating costs and financial performance, making sustainability an increasingly important consideration for both businesses and the financial institutions that support them.

“Through UBA Green Finance, we seek to support eligible businesses investing in cleaner technologies and more sustainable operations. By helping customers explore financing solutions aligned with their needs, we can contribute to a more resilient private sector while unlocking opportunities for sustainable economic growth across Africa,” Alawuba further said.

In a further step towards strengthening its sustainability capabilities, UBA is set to join the Sustainability Professionals Institute of Nigeria (SPIN). The move is expected to deepen the Bank’s environmental, social and governance (ESG) expertise and support the continued professional development of its employees in sustainability-related disciplines.

The Climate Action Week forms part of UBA’s broader sustainability strategy, which integrates environmental responsibility into its Customer First philosophy through responsible business practices, employee engagement, community initiatives and green finance. By combining awareness, practical action and financing solutions, the Bank aims to encourage more sustainable choices while supporting businesses and communities in navigating the challenges and opportunities of climate change.

United Bank for Africa is one of Africa’s leading financial institutions and one of the largest employers in the continent’s financial sector, with approximately 25,000 employees and over 45 million customers globally. Operating in 20 African countries, as well as the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, advancing financial inclusion and leveraging technology to deliver innovative financial solutions.

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UBA Secures Court Order Against Vitol, Four Others in $242m Petroleum Products Diversion Claim

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A Lagos State High Court, last Thursday, granted interim preservative orders of Mareva Injunction against Vitol SA – a Switzerland based Energy Trading company, and four other shipping companies in favour of United Bank for Africa Plc.

The bank alleged Vitol of wrongful release of cargoes of petroleum products which were consigned to the order of United Bank for Africa Plc in the Bills of Lading.

Addressing the Court, Bode Olanipekun, SAN, lead counsel for United Bank for Africa, urged the Court to grant the interim preservative orders against Vitol and the other shippers.

In a ruling on the application, the presiding judge, Honourable Justice K. A. Jose (Mrs.) granted three prayers in UBA’s application, including requests to restrain the dissipation of assets and dealings with funds up to the disputed amount by Vitol S.A.

“Prayers 1–3 are granted as prayed against the 2nd Respondent only,” the judge ruled.

The application was brought pursuant to Order 43 Rule 1 of the High Court of Lagos State (Civil Procedure) Rules 2019 and the Lagos State High Court Practice Direction No. 2 of 2019.

UBA is seeking to contend in the substantive proceedings that Vitol SA and the owners of the vessels, are liable for alleged conversion, misrepresentation and negligence arising from the non-delivery of the petroleum products.

UBA also cited 34 financial institutions and public agencies, including commercial banks, merchant banks, microfinance banks, the Nigerian Ports Authority and the Nigeria Customs Service, in connection with the application.

In an affidavit supporting the application, UBA’s Group Head of Recoveries and Remedial Management, Anthony Chilaka, stated that the bank issued a letter of credit for the benefit of Vitol SA to facilitate a petroleum products transactions.

UBA alleged that the cargo was transported to Nigeria and that the vessels’ masters issued several bills of lading.

The bank further alleged that Vitol subsequently endorsed the bills of lading “to the order of” UBA and handed over the original copies to it.

UBA maintained that the endorsement entitled it to take possession of the cargo upon completion of the voyage.

However, Chilaka stated that the bank had not received the gasoil despite the completion of the voyage.

“The applicant has not been given possession of the gasoil despite completion of the voyage,” the affidavit stated.

UBA alleged that the cargo was instead, applied to the use of another party, contending that the respondents’ failure to deliver it amounted to conversion and negligence.

The bank argued that the respondents had obligations arising from the transaction and the endorsement of the shipping documents, which it claimed were not fulfilled.

The bank alleged that the cargoes associated with those transactions were also diverted to the use of other parties after their voyages, rather than delivered to UBA.

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