By Roosevelt Ogbonna
At the inaugural Bloomberg Africa Business Summit, one question dominated every conversation: How do we fund Africa’s growth in an increasingly interconnected world?
For me, the answer begins with recognising that Africa is no longer a peripheral player in the global economy. We are an emerging force, dynamic, young, resource-rich, and increasingly self-assured. The challenge before us is to translate these strengths into sustainable economic power. And the banking sector will play a decisive role in making that happen.
During the Summit, which held recently in Johannesburg, South Africa, I spoke alongside two of the continent’s most respected banking leaders, Sim Tshabalala, Chief Executive of Standard Bank Group, and hKenny Fihla, Group CEO of Absa Group. Our conversation made one thing abundantly clear: Africa’s financial sector is no longer defined by fragmentation, but by convergence. The shared experiences, challenges, and aspirations articulated on that stage underscored a growing alignment among Africa’s leading banks, an alignment rooted in a collective responsibility to accelerate the continent’s development and to shape its role in the global economy.
Despite the constant geopolitical noise, African markets have displayed remarkable resilience. A recent example is Nigeria’s oversubscribed Eurobond issuance, an instructive signal that global investors are far more attuned to the continent’s fundamentals than the often-pessimistic narratives would suggest.
Markets, in many ways, are more intelligent than the commentary that surrounds them. They reward reform-minded leadership, policy clarity, and credible commitments to transparency. When African governments demonstrate discipline and intentionality, investors, domestic and foreign, respond with confidence. That confidence is one of our most valuable currencies and one we must continue to cultivate.
As I look ahead, I see an Africa that is not merely participating in global trade but actively reshaping it. The continent has the potential to be a global hub for innovation: from renewable energy powered by abundant solar, hydro, and wind resources, to the buildout of data centres that will anchor a thriving digital-first economy.
Africa is already home to some of the world’s fastest-growing tech ecosystems, and its youthful population: digital-native, entrepreneurial, and globally connected, positions the continent as a frontier of both demand and innovation.
These opportunities are not distant aspirations; they are emerging realities. But unlocking them requires sustained, well-structured investment and a banking sector willing to take bold yet calculated bets on the continent’s future. For banks like Access, this future demands an expansion of our role. We can no longer operate as passive intermediaries.
We must become full-spectrum financial partners, providing commercial, corporate, and investment banking services that support businesses at every stage of growth, from the informal retailer in Lagos using digital tools to scale operations, to the pan-African conglomerate deploying capital across borders.
The opportunities for value creation are immense, but they must be approached with a mindset that prioritises sustainability, inclusion, and long-term development. Africa’s growth cannot rely on extractive models or short-term capital flows. It must be anchored on productive investment in infrastructure, manufacturing, technology, and human capital. Banks that succeed in this new era will be those that effectively balance innovation with responsibility, and ambition with discipline.
One clear area of opportunity lies in the widening gap left by retreating Western banks. As global institutions recalibrate their risk appetites and shift focus on more familiar markets, African banks are uniquely positioned to step in. But our objective is not merely to occupy the space left behind. Rather, it is to design solutions that are better attuned to African realities: products and services that build resilience, enhance competitiveness, and empower businesses across the continent.
At Access Holdings Plc, our expansion is guided by a “Global Africa” philosophy: the belief that Africa is not a collection of isolated markets but an interconnected ecosystem with shared prospects. The continent’s future lies in deeper integration: in facilitating trade, harmonising financial systems, and building regional value chains that unlock scale. African banks bring local expertise, cultural fluency, and a grounded understanding of market behaviour, giving us an advantage that foreign incumbents often lack.
Ambition must be paired with resolve. African banks must confront the perception premium that unfairly inflates the cost of capital across our markets. Risk in Africa is frequently overstated, shaped by decades of inaccurate assumptions and outdated data.
Part of our job is to rewrite that narrative, not through rhetoric, but through performance: transparency, disciplined governance, and consistent execution. By deepening domestic capital markets, facilitating intra-African trade, and financing strategic sectors, we can unlock opportunities that have long been constrained by mispriced perceptions of risk.
Ultimately, the future of banking in Africa will be shaped by leadership that marries global perspective with local ownership. We must navigate international financial systems with sophistication while remaining deeply invested in the continent’s development. This means financing infrastructure that connects regions, supporting SMEs that drive employment, nurturing innovation hubs, and empowering the next generation of African talent. It also means recognising that our financial destiny cannot be outsourced. It must be built, patiently, strategically, and collaboratively, by Africans themselves.
Africa has everything it needs: resources, talent, and ingenuity. What we require now is the collective vision and strategic alignment to fund our own growth. The Bloomberg Africa Business Summit was a powerful reminder that while global partnerships matter, Africa’s long-term success will be determined by what we build, how boldly we lead, and how confidently we claim our place in the global economy.
The future of banking in Africa is not just about profits or balance sheets. It is about enabling a Global Africa, a continent that knows its worth, shapes its narrative, and creates prosperity on its own terms.
About the Author
Roosevelt Ogbonna is the Managing Director/CEO at Access Bank Plc
The article was first published on November 28, 2025
Source : ProShare com
