Africa’s push for economic growth is still being held back by one stubborn reality, too little trade within the continent itself.
With intra-African trade accounting for less than 20 per cent of total trade, stakeholders say the gap represents not just a challenge, but a missed opportunity for deeper economic transformation.
This concern framed discussions at the Nigeria–South Africa Economic Diplomacy Roundtable, held at MTN’s corporate headquarters in Lagos.
The gathering brought together policymakers and business leaders, all pointing to one conclusion: stronger cooperation between Africa’s biggest economies is no longer optional.
South Africa’s Consul-General in Lagos, Prof. Bobby Moroe represented by Acting Consul-General Kgothatse Xul, made a clear case for urgency.
While acknowledging that current figures show some level of progress, he stressed that they fall far short of what the continent is capable of achieving.According to him, Nigeria and South Africa carry a unique responsibility to set the pace.
Their collaboration, especially in areas like telecommunications, digital transformation, energy, manufacturing, and infrastructure, could shape regional value chains and unlock more inclusive growth across Africa.
He also pointed to the continent’s youthful population, noting that investing in digital skills will be critical to securing Africa’s economic future.
That broader vision was echoed by Director of Africa Bilateral Economic Relations, Calvin Phume, who described the roundtable as more than just a discussion platform.
For him, it represents an opportunity to turn shared goals into tangible outcomes.
He noted that trade among African countries still hovers below 15 per cent, reinforcing the need for deliberate intervention.
Phume highlighted the African Continental Free Trade Area (AfCFTA) as a key instrument for reversing this trend.
By enabling the freer movement of goods and services, he said, the agreement has the potential to strengthen industrial capacity, deepen value chains, and build more resilient trade systems.
He identified sectors such as manufacturing, agro-processing, pharmaceuticals, digital trade, and infrastructure as critical drivers of jobs and investment.
From the private sector perspective, MTN Nigeria’s CEO, Karl Toriola represented by Chief Marketing Officer Onyinye Ikenna-Emeka, focused on the importance of building investor confidence.
He noted that trust in regulatory systems plays a major role in attracting investment, particularly for those observing Africa from outside the continent.
Also weighing in, Chairperson of the Nigeria-South Africa Chamber of Commerce, Dr. Ije Jidemma, stressed that economic diplomacy will be central to strengthening trade and investment ties.
She expressed optimism about creating an environment where businesses from both countries can expand across borders, particularly through collaboration in infrastructure, energy, and digital connectivity.
