Afreximbank’s Acting Regional Chief Operating Officer Head of Mission (Anglophone West Africa), Mr. Alain Thierry Mbongue, says the Bank is accelerating support for African-led solutions and African-based production to close the continent’s agricultural financing gaps and build food sovereignty under the African Continental Free Trade Area (AfCFTA).
Speaking at the Farm, Food and Allied Technologies Expo (FARMFATECH) 2025 in Abuja, Mbongue said agriculture remains the continent’s strongest pathway to industrialization, jobs and export competitiveness.
“This is a commitment and I am here to reiterate that we must find African solutions to African problems,” Mbongue said, stressing that Afreximbank is scaling investments to localise production of critical agricultural inputs including fertiliser, seeds and machinery.
He noted that global food demand by 2050 will require massive capital mobilisation, with FAO estimates placing the financing gap for developing countries at about $150 billion annually a challenge which also presents significant opportunity.
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Mbongue revealed that Afreximbank is deploying a full suite of specialized solutions across the agriculture financing chain — from project preparation funding, feasibility studies, advisory, debt and long-term finance, to equity and quasi-equity through the Fund for Export Development in Africa (FEDA).
He highlighted Afreximbank’s Africa Quality Assurance Centre (AQAC) in Ogun State, built to certify export products to international standards now being expanded to Kaduna and Imo States.
“When your product is certified by AQAC, you can enter the global markets,” he noted, saying Afreximbank is enabling African producers to meet global benchmarks and eliminate export rejection losses.
He said the AfCFTA single market projected to expand combined population to 2.5 billion people by 2050 when CARICOM is fully integrated — is the biggest opportunity for African agribusiness in decades.
“SMEs are not just the backbone of African economies — they are the engine that will power Africa’s future,” Mbongue said.
He said Afreximbank will continue partnering with governments, private sector players and financial institutions to strengthen value chains, increase local manufacturing, support digital trade through its Africa Trade Gateway platform, and expand continent-wide access to affordable, structured financing.
“Together, we can create an Africa that is not only food secured but food sovereign — growing what it eats and competing on the global stage,” he said.
Victoria Ibanga