Africa’s trade report shows the continent defies all odds
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As the global financial landscape undergoes major disruptions, the African Export-Import Bank (Afreximbank) has released its flagship African Trade Report 2025, offering an in-depth analysis of how the continent can adapt and thrive. Launched during the Afreximbank Annual Meetings in Abuja, the report carries the theme “African Trade in a Changing Global Financial Architecture,” and positions Africa at a critical crossroads—between vulnerability and opportunity.
Trade recovery defies global uncertainty
The report highlights a remarkable rebound in Africa’s trade performance. After a contraction in 2023, total merchandise trade jumped by 13.9% in 2024 to $1.5 trillion. Intra-African trade, in particular, saw a 12.4% surge, reaching $220.3 billion. This growth—despite global inflation, mounting sovereign debt, and tightening trade finance—signals early dividends from the African Continental Free Trade Area (AfCFTA).
Yet the continent still represents just 3.3% of global exports, a stark reminder of the work ahead. The report urges African economies to shift from dependence on raw commodity exports to higher-value industrial production, integrating more deeply into global value chains.
Finance and infrastructure remain critical gaps
Despite the strong trade rebound, the continent continues to face an estimated $100 billion trade finance gap. Afreximbank, which disbursed over $17.5 billion in trade finance in 2024, plans to more than double this to $40 billion by 2026. The report stresses that expanding access to trade finance is essential to sustain economic momentum and build resilience.
Alongside capital, regulatory harmonization and infrastructure modernization are seen as essential next steps. By streamlining cross-border rules and unlocking domestic investment from pension and sovereign wealth funds, the report outlines how Africa can finance its own transformation.
AfCFTA and PAPSS as pillars of progress
Central to this vision is the AfCFTA, which the report describes as a “foundation for resilience.” The growing adoption of the Pan-African Payment and Settlement System (PAPSS) is also reducing the continent’s dependence on foreign currencies and enhancing trade efficiency.
Together, these platforms are seen as building blocks of an African-led economic system—capable of weathering external shocks and shifting global alliances.
A call for global reform, from a stronger position
The report doesn’t stop at internal reforms. It also calls on African leaders to use the continent’s new seat at the G20 to push for overdue changes in global financial governance. These include fairer access to IMF Special Drawing Rights, a more equitable distribution of climate finance, and more accurate credit ratings that reflect Africa’s real economic potential.
Afreximbank also emphasized the growing influence of the Alliance of African Multilateral Financial Institutions (AAMFI), which is boosting funding for development and reshaping the continent’s financial architecture.
A practical plan for Africa, by Africa
In his foreword, Afreximbank President Professor Benedict Oramah summed up the report’s message: Africa can—and must—turn global instability into a catalyst for transformation. With targeted investments in trade finance, digital infrastructure, and institutional reform, the continent has the tools to drive sustainable growth from within.
As the world grows more fragmented, Africa’s strategy is becoming clearer: build resilience through integration, self-financing, and smarter trade policy. The African Trade Report 2025 offers a timely and practical blueprint to do exactly that.