PRESS RELEASE
At the recent Bloomberg Africa Business Summit, some of the continent’s most
influential banking leaders convened to address a defining question for Africa’s
economic trajectory: How can the continent sustainably fund its own growth in an
increasingly interconnected world?
Roosevelt Ogbonna, Managing Director/CEO of Access Bank, delivered a compelling
perspective on this theme, offering a forward-looking view of what banking in a “Global
Africa” must become.
Speaking to an audience of global investors, policymakers, and private-sector
executives, Ogbonna began by highlighting the underlying resilience of African markets
despite prevailing geopolitical uncertainties. Citing Nigeria’s most recent Eurobond
issuance, which was oversubscribed multiple times, he noted that investor appetite
continues to respond positively to reform-driven environments.
“Markets are more intelligent than the narratives that often surround Africa,” Ogbonna
stated. He emphasised that transparency, disciplined governance, and sustained policy
reforms are sending clear signals that resonate with global capital pools. These
conditions, he added, are laying a stronger foundation for financing Africa’s next phase
of growth.
Looking ahead, Ogbonna, who spoke alongside Sim Tshabalala, CEO of Standard Bank
Group and Kenny Fihla, Group CEO of Absa Group, articulated a bold vision of Africa
not merely as a consumer market, but as a global hub for trade, innovation, and
production. With abundant talent, natural resources, and emerging technological
infrastructure, the continent is ideally positioned to move up the value chain, from
exporting raw materials to manufacturing and delivering value-added products
domestically.
For Access Bank, he explained, this translates into a commitment to full-spectrum
banking that supports every layer of economic activity: retail, SMEs, corporate entities,
and investment-driven sectors such as renewable energy, digital infrastructure, and
industrial processing.
Ogbonna further underscored the strategic advantage for African banks as many
Western institutions reduce their footprint across the continent. Access Bank’s own pan-
African expansion, he noted, reflects a Global Africa strategy rooted in deep local
expertise, a nuanced understanding of diverse markets, and the ability to deliver
solutions foreign institutions often overlook.
“The objective goes beyond profitability, It is about catalysing growth, strengthening
ecosystems, and driving development across regions and sectors.” he said.
According to Ogbonna, the future of banking in Africa will hinge on leaders who pair
global perspective with strong local ownership. This means engaging international
capital markets while simultaneously investing in Africa’s infrastructure, talent, and
homegrown enterprise. It also requires a deliberate effort to challenge the “perception
premium”, the persistent risk bias that inflates the cost of capital for African countries
and businesses.
He argued that overcoming these barriers and unlocking domestic capital flows will be
essential for advancing continental trade, innovation, and large-scale development
initiatives.
Ogbonna expressed confidence that Africa possesses everything required to finance
and shape its own future: rich resources, abundant talent, and a rising generation of
innovators. What remains critical is the vision and leadership to align these assets with
a truly global African ambition.
The Bloomberg Africa Business Summit served as a powerful reminder that Africa’s
financial destiny will not be defined externally. Instead, it will be crafted by Africans who
are ready to lead, invest, and build a future grounded in the principles of a “Global
Africa.”
Stay ahead with the latest updates!
Join The Podium Media on WhatsApp for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
Chat with Us on WhatsApp
