The African Business Roundtable (ABR) hosted a high-level Business Forum on Thursday, May 29, 2025, at the Majestic Hall of the Sofitel Hôtel Ivoire, Abidjan, Côte d’Ivoire. Held on the sidelines of the African Development Bank (AfDB) Group’s Annual Meetings, the Forum brought together distinguished leaders and stakeholders from across the continent to deliberate on actionable strategies for strengthening private sector capacities and accelerating the implementation of the African Continental Free Trade Area (AfCFTA).
This year’s Forum was particularly significant, coming at a momentous time marked by the election of Mr. Sidi Ould Tah as the new President of the AfDB, succeeding Dr. Akinwumi Adesina. The ABR Forum provided a timely platform for reflection, collaboration, and renewed commitment to dismantling intra-African trade barriers, fostering investment, and building resilient business ecosystems across Africa.
In her welcome remarks, Mrs. Massogbé Touré, Country Director of ABR in Côte d’Ivoire and CEO of SITA SA, extended appreciation to the African Development Bank for the successful organization of the Annual Meetings and congratulated the newly elected President. She also paid tribute to the late Dr. Babacar N’Diaye, who played a pioneering role in the founding of the ABR thirty-five years ago. Mrs. Touré emphasized the urgent need for the continent to shift from rhetoric to action, stressing that the time for speeches has passed, and the time for strategic, coordinated implementation has come. She highlighted the visionary leadership of ABR President, Mr. Samuel Dossou-Aworet, referencing his achievements including the groundbreaking Backbone integrated transport / logistics project linking Nigeria, Benin Republic and the landlocked Sahelian Countries of Niger Republic, Mali and Burkina – Faso; and a $2.5 billion investment consortium in Nigeria to acquire Shell’s assets.
The keynote address was delivered on behalf of Mr. Ousmane Fall, Director of Non-Sovereign Operations and Acting Director of Trade and Industrial Development at the AfDB, by Mr. Mensah Andoh Obed, Manager of the Industrial and Trade Development Department. Mr. Mensah reaffirmed the Bank’s strong commitment to AfCFTA as a strategic priority. He provided insights into AfDB’s investments, including $16.24 million allocated for AfCFTA implementation capacity, and over $50 billion committed to infrastructure development over the last nine years. He noted that poor transport infrastructure continues to raise the cost of goods traded across Africa by as much as 40 percent, underscoring the urgency to scale infrastructure investment. Citing data from the African Economic Outlook 2024, he noted that Africa faces an annual infrastructure financing gap of $68 to $108 billion, with total infrastructure needs estimated at $402.2 billion.
In addition to traditional infrastructure, Mr. Mensah shared that AfDB has supported over 1,900 trade transactions across 32 African countries and invested in initiatives ranging from airport modernization to digital technology parks and job creation centers. The Bank has also launched an Action Plan to further embed AfCFTA implementation into its Country Strategy Papers, building on its successful recapitalization that increased its financial capacity from $93 billion to $318 billion.
The high-level panel session that followed offered deep dives into four critical areas: infrastructure and connectivity, policy harmonization, finance and investment, and entrepreneurship and integration.
In the discussion on infrastructure, Mr. Mensah Andoh Obed emphasized the need for scale, regional connectivity, and trade corridors. He highlighted that landlocked countries face particular disadvantages and urged African states to adopt mechanisms similar to the EU’s approach of supporting peripheral economies. The AfDB’s commitment to closing connectivity gaps was further evidenced by programs like Affirmative Action for Women in Africa (AAFWA), which has provided financing to businesswomen across the continent. He acknowledged the varying levels of economic development across African countries and called for solidarity and strategic trade-offs to achieve continent-wide integration.
H.E. Dr. Amany Asfour, Chairperson of the African Business Council, shared insights into her institution’s three-pillar approach to policy harmonization. The Council has been engaged in capacity building through workshops and education on AfCFTA protocols, advocacy for tariff and non-tariff barrier reforms, and the promotion of product standardization. She drew attention to the imbalance in value chains, citing that while Africa earns $5.7 billion from cocoa, the global chocolate industry generates over $217 billion. Dr. Asfour urged for increased ownership of policies and broader support for women and youth entrepreneurship, especially through programs like “Hunting for Africa’s Unicorns” and the forthcoming Symposium on Minerals for Women.
Mr. Ayman El-Zoghbyn, Director of Trade, Investment, and Corporate Finance at Afreximbank, elaborated on his institution’s pivotal role in financing and facilitating intra-African trade. He acknowledged the logistical challenges of intra-African travel and trade and described Afreximbank’s strategic response, including the establishment of the Intra-African Trade Fair (IATF). He noted that the fair has become a dynamic platform for networking and investment mobilization, connecting policymakers, businesses, and financial institutions. He also highlighted the success of the Pan-African Payments and Settlement System (PAPSS), which links 16 central banks and 144 commercial banks, saving African businesses up to $5 billion annually in transaction costs. Afreximbank has mobilized over $370 million for industrialization projects and supported key sectors during the COVID-19 pandemic, reinforcing the resilience of African institutions.
The session on entrepreneurship and integration featured further remarks by Mrs. Touré, who outlined ABR’s activities aimed at improving the business environment, encouraging cross-border trade, and supporting the capacity of SMEs to participate meaningfully in the AfCFTA. She reiterated President Dossou’s commitment to practical projects that connect markets and promote inclusive growth.
Audience participation brought additional layers of insight, with questions addressing Africa’s business culture, the need for engineering and technical education to support industrialization, access to healthcare and its effect on women’s productivity, and the importance of customized financing solutions for SMEs. The pandemic-era example of vaccine acquisition was cited to illustrate the potential for regional cooperation. The establishment of the African Medical Center of Excellence in Nigeria was celebrated as a promising step forward.
Some ABR members were also in attendance, reflecting the strength and solidarity of the organization across regions and sectors. Notably, Mr. Justin Chinyanta, Executive Vice President for Southern Africa and CEO of Loita Capital Partners, and Dr. Thomas Laryea of ABR USA/Ghana, were present at the Forum, lending their support and affirming the commitment of the broader ABR network to the AfCFTA agenda.
In summarizing the Forum’s deliberations, several key takeaways emerged. First, there was consensus on the need for concrete action from the private sector to dismantle existing trade barriers and construct enabling ecosystems for investment and entrepreneurship. Development finance institutions like the AfDB and Afreximbank were praised for their leadership and continued support. However, stakeholders recognized that the journey to full AfCFTA implementation remains long and complex, requiring strategic infrastructure investment, harmonization of trade rules, and targeted support to lower-income and landlocked nations.
Equally important is the necessity of industrializing Africa through value addition in agriculture, mining, and mineral processing, while ensuring that no country is left behind due to disparities in development. The resilience demonstrated by African institutions during the COVID-19 crisis has inspired new thinking around local production of vaccines and medical supplies. Finally, strong emphasis was placed on the need for training, mentorship, and increased market access for SMEs, women, and youth.
The event concluded with a vote of thanks by Mr. Samuel Ayodele, Executive Secretary / Head, Operations of the African Business Roundtable. He highlighted the visionary leadership of ABR President Dossou-Aworet and applauded the AfDB’s steadfast partnership. He expressed hope that the momentum generated in Abidjan would carry into the next Business Forum to be held alongside Afreximbank’s Annual Meetings in Abuja, Nigeria. Mr. Ayodele extended heartfelt appreciation to all panelists, the moderator, and participants for their invaluable contributions and wished everyone a safe return to their respective countries.
As Africa continues its transformative journey under the AfCFTA framework, ABR remains committed to championing the private sector as the engine of inclusive growth and integration. The Forum reaffirmed the shared belief that while the challenges are significant, the opportunities ahead are even greater.