Growth dominated conversations at the 2026 Africa Business Convention (ABC), but speakers were quick to move away from lofty rhetoric, insisting that Africa’s next phase of economic expansion will depend more on execution than ambition.
Held under the theme “Africa Grow,” the Convention brought together policymakers, business leaders and development partners to interrogate what growth means in practical terms for the continent, with discussions spanning fiscal stability, trade integration, food security, public-private partnerships and innovation.
In his welcome address, Chief Executive Officer and convener of ABC, Dr Ogho Okiti, said the Convention was established to accelerate Africa’s economic transformation by fostering collaboration between government and the private sector in order to drive enterprise, investment and inclusive growth. He noted that since inception, the forum has been anchored on six core pillars designed to stimulate policy reform, business partnerships and tangible investment commitments.
A major focus of the discussions was the African Continental Free Trade Area (AfCFTA), which speakers described as a litmus test for Africa’s ability to translate agreements into action. Secretary-General of AfCFTA, Wamkele Mene, said the continent was now firmly in the implementation phase, with 50 countries having ratified the agreement.
According to him, early signs are encouraging, as intra-African trade reached about $220 billion in 2024, driven largely by private sector activity. Small and medium-sized enterprises, which contribute roughly half of Africa’s GDP, are central to this momentum. Mene stressed that governments only create frameworks, while trade itself is driven by businesses.
He pointed to Nigeria as an example, noting that Africa has emerged as the country’s largest export destination in the past 18 months, reflecting deepening regional integration. However, he cautioned against unrealistic expectations, noting that dismantling decades of fragmented trade systems across the continent would take time.
Beyond trade figures, panellists argued that growth must be assessed by its impact on everyday life. Managing Partner at VAI Law, Modupe Odele, said real growth is measured by the ease with which ordinary Africans can move goods, capital and themselves across borders. She cited persistent barriers such as restrictive visa regimes, weak logistics and payment challenges, noting that only about 28 per cent of intra-African travel is visa-free.
For her, growth becomes meaningful when small traders can operate seamlessly across borders without navigating complex bureaucracy. The broader message was that without harmonised markets and freer movement of people and capital, Africa’s growth story remains incomplete.
The Convention also explored culture as an economic driver. Chief Executive Officer of Lily’s Global Services and filmmaker, Lilian Olubi, highlighted the economic potential of Africa’s creative industries, describing storytelling as both cultural expression and economic infrastructure. She noted that African stories have global appeal, creating jobs and shaping perceptions, but warned that the sector remains constrained by weak intellectual property protection, limited access to capital and reliance on foreign-owned distribution platforms.
From a business sustainability perspective, Chief Executive Officer of Business Front, Muyiwa Matiluko, drew insights from companies that have survived for over five decades on the continent. He identified location, service to mass markets and patience as key factors behind their longevity. According to him, many enduring African businesses prioritise steady growth over rapid expansion, focusing on essential goods and services that meet everyday needs.
Infrastructure gaps also featured prominently in the discussions, particularly in relation to Africa’s digital ambitions. Speakers stressed that technology-driven growth cannot outpace basic infrastructure, especially reliable power. Regional Executive for West Africa at Africa Data Centres, Dr Krishnan Ranganath, said data centres and digital infrastructure are highly sensitive to power instability, adding that Africa’s challenge is not a lack of capital but a shortage of well-structured, bankable projects.
On artificial intelligence, the tone was cautious. Speakers warned against adopting Western timelines without considering Africa’s unique realities, noting that premature adoption without adequate skills development, jobs and infrastructure could widen inequality rather than drive inclusion.
As the Convention drew to a close, a common thread emerged: Africa’s growth must be grounded in functioning systems, open borders, reliable power, sustainable businesses and inclusive institutions. Now in its fifth year, the Africa Business Convention has continued to position itself as a key B2B platform for dialogue, deal-making and investment collaboration, having attracted over 8,700 participants and more than 140 speakers since its launch in 2021.
