Entrepreneurs, policymakers and business executives discuss Africa’s trade potentials.
By Stephen G. Fellajuah
Monrovia, Liberia, March 21, 2025 – African leaders, policymakers, and business executives gather here to discuss the continent’s economic future, emphasizing trade, investment, and industrialization as key pillars for sustainable growth.
The forum, held on Thursday, March 20, 2025, at Royal Grand Hotel in Monrovia, focused on the Africa Continental Free Trade Area (AfCFTA), a landmark initiative aimed at fostering regional economic integration.
Experts at the forum underscored the importance of infrastructure development, market access, and trade facilitation, highlighting Africa’s potential to transition from a consumer-driven economy to a self-sufficient, productive powerhouse.
Organized under the theme Bridging the Last Mile: Unlocking Liberia’s Intra-Africa Trade Potential, the event brought together diverse stakeholders, including government officials, business leaders, and media representatives. The theme resonated deeply with Liberia’s national vision of economic transformation and regional integration.
One of the key messages from the forum was the need to transition from a reliance on imports to local production, with agriculture identified as a crucial driver of job creation and economic resilience.
Liberia was encouraged to capitalize on its rich land resources to expand agricultural output and boost exports. Nigeria and Central Africa’s trade potential were also singled out as critical to unlocking broader economic growth across the continent.
The role of institutions like the Ministry of Finance, Ministry of Commerce, Central Banks, National Investment Commissions, and the Intra-African Trade Fair (IATF) was recognized in ensuring smooth trade operations and providing necessary financial support for businesses.
Afreximbank, in particular, was highlighted as a vital partner in providing trade financing, having already committed over $20 billion to African businesses.
Afreximbank’s digital platforms, such as the Africa Trade Exchange (ATEX), were also emphasized. These platforms serve as an online marketplace connecting African buyers and sellers, reducing dependence on external markets. Liberian businesses, for instance, could list locally produced goods—such as rice—on ATEX to secure trade deals with buyers across Africa.
The forum further emphasized the importance of trade intelligence, which helps businesses identify market opportunities and expand their reach. With the upcoming Intra-African Trade Fair (IATF) scheduled for June 2025, the event was positioned as a major opportunity for businesses and governments to network, secure investments, and explore new partnerships.
As Africa’s economy is projected to grow significantly, experts urged policymakers to modernize industries, invest in local manufacturing, and leverage regional trade agreements to unlock the continent’s full economic potential. The focus was clear: Africa must unite in trade, harness its resources, and create a thriving economic future.
Wilmot T. A. Reeves, Deputy Minister for Commerce and Trade at the Ministry of Commerce and Industry, highlighted that intra-Africa trade remains one of the most underutilized opportunities on the continent.
He noted that current intra-Africa trade levels stand at less than 20% of total exports, significantly lower than Asia (60%) and Europe (70%). For Liberia, trade with AfCFTA member states accounts for less than 15% of its total exports, revealing untapped potential.
“We must diversify and add value to our key exports, including rubber, timber, iron ore, and palm oil, to increase trade volumes within the continent. To do so, we must address critical barriers such as financing, market access, and trade facilitation, especially for our SMEs, which make up over 80% of Liberia’s businesses,” Reeves explained.
The Government of Liberia is taking proactive steps to enhance trade infrastructure, with investments in ports, roads, and digital trade platforms to facilitate smoother cross-border transactions.
Additionally, the government is strengthening policy and regulatory frameworks to simplify trade procedures, harmonize standards with regional markets, and streamline customs operations.
A key part of the strategy is integrating SMEs into regional and continental supply chains. Through targeted funding, capacity-building programs, and export support initiatives, Liberia aims to position small businesses to thrive within the AfCFTA framework.
Reeves emphasized the upcoming IATF 2025 as a strategic opportunity for Liberia to showcase its trade potential, foster new partnerships, and attract investments. “With an estimated $44 billion in trade and investment deals to be unlocked at the event, the ministry is committed to ensuring a strong national representation that allows Liberian businesses to expand their reach and tap into new markets,” he said.
Mussah Kamara, Senior Technical Supervisor at the Central Bank of Liberia, underscored the importance of a strong financial system to support trade and investment. The CBL, he stated, will continue to promote financial stability and prudent monetary policies to create a conducive trade environment.
A representative from the Central Bank, on behalf of Executive Governor Henry F. Saamoi, also highlighted key challenges facing businesses, particularly limited access to credit and trade financing. Kamara urged businesses to engage with Afreximbank, Oakwood Green Africa, and other financial institutions to explore available funding solutions.
The forum emphasized that the path to sustainable growth for Liberia and the broader African continent lies in unlocking the full potential of intra-Africa trade. With strategic investments in infrastructure, the promotion of local production, and strengthened partnerships, the future of African trade looks promising. Editing by Jonathan Browne
