African Export-Import Bank (Afreximbank)
African Development Bank Group
Ashley .E . Otu , MSc/ MA/ MScR
Are we getting it right?
Afreximbank’s recent decision to allocate $300,000 toward lobbying for the renewal of AGOA demonstrates misplaced priorities. If such resources were instead dedicated to advocating for the strengthening of intra-African trade, the economic and social dividends would be far greater. As policymakers, economists, and advocates for African development, we urge a shift in focus towards bolstering the African Continental Free Trade Area (AfCFTA) and increasing regional trade flows.
Intra-African trade currently accounts for only a fraction of Africa's total trade, despite the vast opportunities it presents. Take Tanzania, for example, whose annual exports to other African countries stand at a mere $1.3 billion—a figure that reflects the untapped potential for regional trade. By improving infrastructure, streamlining customs processes, and fostering industrial collaboration, Africa could create millions of jobs and build resilient value chains that serve its 1.4 billion citizens.
A concerted lobbying effort to promote intra-African trade would address structural barriers such as inadequate financing, poor infrastructure, and fragmented regulatory environments. These are challenges that institutions like Afreximbank are well-equipped to tackle with the right vision.
Rather than lobbying to sustain access to U.S. markets, Afreximbank should allocate resources to building a robust African trade ecosystem. A pan-African campaign advocating for the implementation of AfCFTA, trade policy harmonization, and SME support would generate far greater returns for Africa’s economy than AGOA ever could.
We urge Afreximbank and other stakeholders to embrace this vision. Pay us to advocate for policies that will unlock the full potential of intra-African trade and, in doing so, create millions of jobs for Africans. This is the kind of transformative leadership Africa needs—not lobbying to extend outdated trade frameworks that perpetuate dependency.
