The African Export-Import Bank (Afreximbank) on Wednesday launched its flagship African Trade Report 2025, themed “African Trade in a Changing Global Financial Architecture”, during the Afreximbank 32nd Annual Meetings (AAM2025) in Abuja Nigeria.
The report looks at the performance of Africa’s trade in a challenging global environment charaterised by rising geopolitical tensions, new trade barriers, and financial uncertainty—and analyses how the continent could leverage these challenges into opportunities to enhance its resilience and navigate the evolving landscape.
Speaking on the report, President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, said: “This year’s report provides a compelling roadmap for Africa to reposition itself in a volatile global economy. From strengthening trade finance systems to accelerating the AfCFTA, the message is clear: Africa must turn global fragmentation into an opportunity for industrialisation, digital progress, and greater control over its financial systems.”
In the same vein, Afreximbank’s Group Chief Economist and Managing Director of Research, Dr. Yemi Kale, added: “Despite global headwinds, Africa’s trade rebounded strongly in 2024, with trade between African countries growing by 12.4% to reach US$220.3 billion, from a contraction of 5.9% in 2023. This shows the tangible benefits of AfCFTA implementation, even as the continent contends with rising inflation, sovereign debt risks, and a persistent trade finance gap.”
The report indicates that Africa’s total merchandise trade recovered, surging by 13.9% in 2024, to US$1.5 trillion, following a 5.4% contraction in 2023. However, Africa still makes up only 3.3% of global exports. That’s a clear signal. The continent must do more by moving away from commodity exports and accelerating its industrialisation process if it is to enhance its integration into global value chains and boost intra-African trade. It also needs better access to trade finance to bridge the gap estimated at about US$100 billion.
While the global economy slowed to 3.3% growth in 2024 and is expected to dip further in 2025, Africa held steady. The continent’s economy grew by 3.2%, helped by strong commodity prices and better public finances. Still, growth remains uneven across the continent.Afreximbank’s African Trade Report 2025 emphasises the importance of advancing the African Continental Free Trade Area (AfCFTA), which is becoming a foundation for trade resilience across the region.
It also highlights the expanding use of the Pan-African Payment and Settlement System (PAPSS), which is helping to reduce reliance on foreign currencies and making cross-border trade more efficient.
