The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has called for stronger financing mechanisms, improved trade facilitation and increased value addition to enable African businesses to take full advantage of opportunities created by the African Continental Free Trade Area (AfCFTA).
She said access to finance alone was not enough to unlock the potential of Micro, Small and Medium Enterprises (MSMEs), stressing the need for efficient border processes, reliable payment systems, affordable logistics, quality infrastructure and access to markets.
The Minister made the call on Wednesday, August 26, 2026, when she delivered the keynote address as Hostess and Guest of Honour at the 2026 AFLIGA Thought Leadership Series at the La Palm Royal Beach Hotel in Accra.
The event was held on the theme: “Re-Imagining Africa’s SMEs Financing, Trade, Governance and Economic Development Goals in the Next Decade: Any Hope for Agenda 2063?”
Ms Ofosu-Adjare said MSMEs remained critical to Africa’s economic development but continued to face difficulties in accessing affordable and suitable financing.
She said the AfCFTA presented an important opportunity to expand markets for African businesses, pointing to the gap between Africa’s overall merchandise trade and trade among African countries.
According to her, Africa’s merchandise trade reached approximately US$1.5 trillion in 2025, while intra-African trade stood at about US$213.8 billion, highlighting significant opportunities to deepen trade within the continent.
The Minister also called for greater processing of Africa’s agricultural and natural resources locally, saying increased value addition would create jobs, strengthen manufacturing and enable the continent to retain more value from its resources.
She cited the Government’s Feed the Industry Programme, 24-Hour Economy and Accelerated Export Development Programme as initiatives aimed at strengthening the link between agriculture, industry and export development.
On enterprise development, Ms Ofosu-Adjare highlighted Government support through the Ghana Enterprises Agency (GEA) and the Ghana Export Promotion Authority (GEPA), as well as steps towards establishing a Women Development Bank to provide greater support for women entrepreneurs.
The Chairperson of the event and Member of the Council of State, H.E. Mrs Betty Mould-Iddrisu, called for stronger commitment and practical action to translate Africa’s development aspirations into tangible benefits for its people.
She emphasised the need for greater collaboration among governments, the private sector, financial institutions and development partners to create an enabling environment for businesses to grow.
Mrs Mould-Iddrisu said empowering SMEs with access to finance, markets and opportunities would be essential to driving sustainable economic growth and advancing the objectives of Agenda 2063.
Ms Ofosu-Adjare expressed optimism about Africa’s future but said the success of Agenda 2063 would ultimately be judged by tangible improvements in the lives of citizens.
She stressed that Africans should not have to wait until 2063 to experience the benefits of the continental development agenda, saying progress should already be reflected in growing businesses, increased local processing and manufacturing, easier cross-border trade and greater economic opportunities for women and young people.
