Experts in Lagos urge urgent reforms to boost trade between African countries
At the Moonshot 2026 forum in Lagos, Nigeria, experts said trade among African countries is still below 17% of the continent's total trade. They called for removing barriers so the continental free trade area can become a genuine single market.
Trade between African countries still accounts for less than 17% of the continent's total trade, compared with more than 60% in Europe. The issue was discussed at the Moonshot 2026 technology and business forum in Lagos, Nigeria, where experts called for urgent reforms to turn the idea of a single African market into reality. It matters because the volume of trade within the continent affects business incomes and economic growth.
The African Continental Free Trade Area (AfCFTA) promises a $3.4 trillion market. However, businesses continue to be held back by regulatory barriers, fragmented financial systems and costly cross-border payments.
The gap between agreements and practice
Speaking to the programme Business Africa, Adetola Onayemi, Chairman of Norebase, pointed to the gap between trade agreements and their implementation. In his view, obstacles persist at borders, ports and banks. He called for technology-driven solutions, including standardised business documentation and interconnected digital payment systems, to ease market entry and cut transaction costs. He urged businesses to actively use the AfCFTA to expose bottlenecks and push governments to address them.
Tech sector and governance
Africa's technology sector faces a new reality as cheap capital dries up and international investors reassess their exposure to the continent. Start-ups are under growing pressure to show profitability and financial discipline. This may signal a shift from rapid expansion towards building more resilient businesses.
Separately, the latest report by the Mo Ibrahim Foundation shows that nearly half of Africa's population lives in countries where governance has deteriorated over the past decade. This raises concerns about institutional performance, political stability and investor confidence.
