Access to trade finance remains one of the biggest obstacles facing small and medium-sized enterprises (SMEs) across Africa, limiting their ability to scale operations, access new markets, and participate fully in regional trade.
Industry stakeholders say high financing thresholds, currency volatility, fragmented regulations, and inefficient cross-border payment systems continue to constrain the growth of exporters and businesses on the continent.
They made the suggestions in Lagos, recently, during the 6th Africa Finance Festival 2026 gala. Hosted by InstinctWave and CFO Magazine, the event focused on digital finance, trade growth, innovation, and Africa’s economic future.
Held at the LagosOriental Hotel, the evening featured networking sessions, executive engagement, and award presentations recognising individuals and organisations shaping business growth across the continent.
Akin Naphtal, group CEO of InstinctWave, described the festival as a leading platform for finance leadership and economic dialogue in Africa.
“Over the course of the festival, we have had the privilege of hearing from outstanding keynote speakers, panelists, regulators, investors, and finance executives,” he said.
He added,
“Tonight, however, we gather for a different but equally important purpose: to celebrate excellence.”
He noted that the awards were created to honor institutions and professionals driving innovation, discipline, and impact across Africa’s finance sector.
Bernice Awube Armah-Ampofo, director of Finance at the Ghana Export Promotion Authority, highlighted barriers facing exporters and SMEs across Africa.
“Accessing trade finance is cumbersome, and the thresholds are quite high for SMEs,” she remarked, citing high capital costs, currency volatility, fragmented regulations, and weak cross-border payment systems as key challenges.
She urged stakeholders to leverage the fintech ecosystem to close gaps in trade finance and payments through stronger regional collaboration.
The event also reflected the growing role of digital payments in Africa’s financial system. GSMA data shows mobile money transactions reached over $2.3 trillion globally in 2025, with Sub-Saharan Africa accounting for about two-thirds of total value, driven by rapid adoption across markets.
The figures underline how mobile platforms continue to expand access to financial services and support discussions on cross-border trade and financial inclusion raised during the event.
Beyond the formal speeches, the event also created room for business networking and collaboration among attendees.
Guests participated in interactive networking sessions designed to encourage new industry connections before the award presentations later in the evening.
Sponsors including MTN Nigeria, Ghana Export Promotion Authority, and other participating organisations maintained strong visibility throughout the gala.
Closing the event, Naphtal said, “Our vision remains bold, to continue to build the Africa Finance Festival into one of Africa’s most influential platforms for finance leadership, policy dialogue, innovation, and economic transformation.”
