Moonshot 2026: Experts call for urgent reforms to unlock intra-African trade{Business Africa}
Experts at Moonshot 2026 in Lagos call for harmonised regulations and seamless digital payments to boost intra-African trade and as Silicon Valley pulls back, home-grown startups are stepping up to shape the continent's digital future.
Experts gathered at the Moonshot 2026 conference in Lagos have urged for immediate reforms to facilitate intra-African trade, currently at a mere 17 percent of the continent's total trade. While the African Continental Free Trade Area (AfCFTA) aims to create a $3.4 trillion market, numerous regulatory barriers, fragmented financial systems, and costly cross-border payments continue to impede businesses.
Adetola Onayemi, Chairman of Norebase, emphasized the disparity between trade agreements and their implementation, noting that challenges persist at borders, ports, and banks. He advocated for technology-driven solutions, such as standardized business documentation and interconnected digital payment systems, to streamline market entry and cut down transaction costs.
Onayemi also urged businesses to actively use the AfCFTA to identify bottlenecks and compel governments to address them, in order to unlock the agreement's potential for boosting incomes, expanding trade, and reducing poverty.
Written by urgent.news from Euronews Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
