Oluchi Chibuzor
Chairman of Access Holdings Plc, Aigboje Aig-Imoukhuede, has warned that Africa’s financial progress will stay restricted except its banks transfer past profitability and monetary stability to finance companies, infrastructure and job creation.
He additionally referred to as for globally aggressive African banks, simpler entry to credit score and deeper monetary integration earlier than the continent pursues a typical forex.
Speaking on the closing session of the Africa Financial Summit (AFIS) 2026 in Luanda, Angola, Aig-Imoukhuede mentioned Africa might now not afford a monetary system through which banks stay worthwhile whereas companies battle for funding and thousands and thousands face restricted financial alternatives.
“A banking system can be well, can be as safe as you want it to be, it can be profitable, but then it can still serve an economy that is very underperforming,” he mentioned.
Addressing the summit’s theme, Making Capital Count: Unlocking Growth Through African Finance, he urged governments, central banks and monetary establishments to measure their success by their contribution to financial growth and improved residing requirements.
He recognized poor entry to working capital as a serious impediment going through small companies, noting that many battle to acquire financing even when supplying items and providers to financially sturdy firms.
“When an SME supplies goods to a creditworthy buyer, that SME should be able to attract capital and financing at the same cost of the credit rating of that buyer immediately,” he mentioned.
Citing India and Brazil, he urged African banks and regulators to undertake digital invoicing techniques that may enhance enterprise financing and assist financial growth.
Aig-Imoukhuede additionally referred to as for larger funding of pension funds and home financial savings in infrastructure, warning towards utilizing short-term financial institution deposits to finance long-term tasks.
“We can’t use bank deposits, which can be withdrawn tomorrow, to finance long-term projects which require 20-year money,” he mentioned.
He cited the Dangote Refinery for example of large-scale funding alternatives and warned that extreme authorities borrowing might restrict private-sector entry to finance.
Turning to the banking business, he mentioned the withdrawal of some worldwide banks from Africa had created alternatives for indigenous establishments however warned that African possession alone wouldn’t assure progress.
