Moonshot 2026: Experts call for urgent reforms to unlock intra-African trade{Business Africa}

© - Copyright © africanews Africanews Last updated: 34 minutes ago Business Africa Intra-African trade remains below 17 per cent of the continent’s total trade, compared with more than 60 per cent in Europe. Despite the African Continental Free Trade Area (AfCFTA) promising a $3.4 trillion market, regulatory barriers, fragmented financial systems and costly cross-border payments continue to hinder businesses. At Moonshot 2026 in Lagos, experts called for urgent reforms to turn the ambition of a single African market into reality. Speaking to Business Africa, Adetola Onayemi, Chairman of Norebase, highlighted the gap between trade agreements and their implementation, pointing to persistent obstacles at borders, ports and banks. He called for technology-driven solutions, including standardised business documentation and interconnected digital payment systems, to simplify market entry and reduce transaction costs. Ultimately, he urged businesses to actively use the AfCFTA to expose bottlenecks and push governments to address them, unlocking the agreement’s potential to boost incomes, expand trade and reduce poverty. Africa’s tech sector: From easy money to sustainable growth Africa’s technology ecosystem is facing a new reality as cheap capital dries up and international investors reassess their exposure to the continent. With funding becoming harder to secure, start-ups are under increasing pressure to demonstrate profitability, financial discipline and sustainable business models. But does this mark the end of Africa’s tech boom, or the beginning of a more mature ecosystem? The shift could signal a transition from rapid expansion towards building resilient businesses with long-term economic value. Governance in Africa: A growing challenge for economic growth The latest Mo Ibrahim Foundation report reveals that nearly half of Africa’s population lives in countries where governance has deteriorated over the past decade. The findings raise concerns about institutional performance, political stability and investor confidence. Weak governance can undermine business environments and slow economic development, making stronger institutions, transparency and accountability essential to securing sustainable growth across the continent. up next