On Sunday, 17 May, a flight from Lagos landed in Lome, the capital of Togo, for the third edition of Biashara Afrika, a premier continental business forum. The event brought together African heads of state, ministers, policymakers, SMEs, investors, and entrepreneurs to accelerate the implementation of the African Continental Free Trade Area Agreement (AfCFTA) and explore intra-African trade collaborations.
Biashara Afrika 2026: A Platform for Trade and Investment
Hosted by the Togolese government and the AfCFTA Secretariat, Biashara Afrika 2026 served as both a trade and investment forum and a platform for policy and partnership announcements. The name "Biashara," Kiswahili for "trade" or "business," reflects the forum's goal of placing African entrepreneurs, SMEs, women, and youth at the center of the AfCFTA narrative.
The summit, held at Palais des Congres from 18 to 20 May, carried the theme "Powering Africa's Economic Transformation through the AfCFTA." It marked a shift in AfCFTA implementation from protocols to practical measures that facilitate the movement of goods, services, and people across borders.
AfCFTA: The Largest Free Trade Area by Membership
AfCFTA is a flagship initiative of the African Union under Agenda 2063. As of 2025, 54 AU member states have signed the agreement, and 50 have ratified it, making it the largest free trade area in the world by membership. Launched in 2018, trading began in 2021. The agreement comprises a framework and legally binding protocols covering trade in goods, services, dispute settlement, competition policy, intellectual property rights, investment, digital trade, and women and youth in trade.
Conversations at Biashara Afrika 3.0 in Lome were framed as "Africa for Africa" or "One Africa, One Market," aiming to foster regional integration, unlock value chains, and drive economic transformation. The goal is to create a single market of 54 countries instead of 54 fragmented markets, with a combined GDP of $3.4 billion and a population of 1.4 billion people. By reducing trade barriers and harmonizing policies, AfCFTA facilitates cross-border business and investment, positioning Africa as a unified economic bloc. The Pan-African Payment and Settlement System (PAPSS) launched by Afreximbank allows businesses to pay in local currencies.
AfCFTA: From Aspiration to Functioning Instrument
Wamkele Mene, Secretary General of the AfCFTA Secretariat, stated, "AfCFTA is no longer an aspiration; it is a functioning instrument of integration, powered by institutions, backed by political will, and increasingly owned by the private sector." This aligns with Tony Elumelu's Africapitalism philosophy, which emphasizes that the private sector, particularly African entrepreneurs and long-term investors, should drive economic and social development. Elumelu has invested over $100 million since 2015 to train, mentor, and fund young African entrepreneurs. As of the 2024 cohort, the Tony Elumelu Foundation had selected more than 18,000 beneficiaries across all 54 African countries, each receiving $5,000 seed capital, business training, and mentorship. These entrepreneurs have created over 400,000 jobs and generated more than $1.5 billion in revenue collectively.
Biashara Afrika and Africapitalism share similar objectives: to transform Africa economically and create wealth that lifts society. However, as Mene noted, "African countries must be ready to power it."
Opening Plenary: Visa Controversy and Policy Breakthrough
At the opening plenary on 18 May, speakers included Togo's Minister of Economy and Strategic Monitoring, Badanam Patoku; Nigeria's Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; AU Champion for AfCFTA and former Niger President Mahamadou Issoufou; Wamkele Mene; and Togo's President Faure Gnassingbe.
Dr. Oduwole courageously announced that two delegates were denied entry into Togo with their ECOWAS passports, with President Gnassingbe present. The affected individuals were a Nigerian man and a Ghanaian woman. The Nigerian held Nigerian and EU passports, while the Ghanaian, residing in Paris, held Ghanaian and US passports. Since they were not arriving from their home countries, immigration officials required them to obtain Togolese visas on their foreign passports, valid for only 48 hours. The female delegate described the experience as "ridiculous," and the Nigerian was reportedly so angered that he considered not investing in Togo.
Dr. Oduwole, incoming Chair of the AfCFTA Council of Ministers, emphasized the need to move AfCFTA from policy paper to actual trade, eliminate non-tariff barriers, improve digital trade infrastructure, and facilitate seamless movement of goods and services. President Gnassingbe expressed frustration and embarrassment, directing immigration and border control authorities to resolve the visa restrictions immediately.
Togo's Visa-Free Policy for African Passport Holders
In response, the Togolese government declared that African passport holders and investors can now enter Togo without a visa for stays of up to 30 days, provided they possess valid national passports and complete an online travel declaration before arrival. Announced by Minister of Security and Civil Protection Calixte Batossie Madjoulba on 18 May, the move was welcomed by the AfCFTA Secretariat and Afreximbank as a major breakthrough for mobility, trade, and investment across Africa.
Participants at the forum stressed that facilitating the movement of African citizens, entrepreneurs, and investors is essential for inter-African trade. Togo's decision provides a practical test case for visa liberalization's impact on business travel and cross-border trade. Other African countries with visa restrictions for Africans are encouraged to follow Togo's example.
Togo as a Logistics Hub and AfCFTA Implementation
Togo proved an excellent host for Biashara Afrika 2026, positioning itself as a logistics and transport hub for West and Central Africa, thanks to its deep-water port and early AfCFTA implementation. Dr. Oduwole stated, "Africa has spent years negotiating agreements and signing protocols. Now, Africa must focus on practical implementation that delivers economic opportunities for businesses and citizens."
Biashara Afrika in Lome embodied this shift, with conversations less about tariff schedules and more about how SMEs can clear goods, access finance, and find buyers. The summit emphasized B2B engagements and side events on trade finance, value chains, and partnerships. Mene stressed that the success of AfCFTA will be measured by the ease with which African businesses can trade across borders.
Partnership with International Trade Centre
A renewed partnership between the AfCFTA Secretariat and the International Trade Centre (ITC), signed on the sidelines, aims to create practical commercial opportunities for SMEs, women-owned, and youth-led businesses. ITC estimates that intra-African trade could increase by an additional $22 billion annually by 2029 under AfCFTA through tariff reductions and regional value chain development.
Biashara Afrika functions as a policy accelerator, providing a continental audience for governments ready to announce reforms. A recurring theme was Africa's need to move beyond raw material export. While Morocco's automotive sector, Kenya's fintech, and Nigeria's new refinery are success stories, they remain isolated. One speaker noted, "What Africa needs from global partners is not charity, but collaboration – technology transfer, fair access to markets, and investment in regional value chains."
The summit called for clear financing commitments for value-added industries, cross-border supply chains, logistics, power, and regional manufacturing hubs aligned with AfCFTA. The low intra-African trade, at around 15-18 percent of total trade, was cited as worrisome compared to over 60 percent in Europe and Asia. The gap is due to barriers in transport, finance, information, and mobility. Dr. Hortense Me, Executive Secretary of the AfCFTA Abidjan-Lagos Corridor, disclosed that there are 41 "official" checkpoints between Abidjan and Lagos, each a major trade barrier undermining AfCFTA's vision.
Conclusion: Africa Moving from Aspiration to Action
Biashara Afrika 2026 in Lome was not just another talkshop but a working session on making AfCFTA real for African businesses. Evidence from the speakers indicates that Africa is moving from aspiration to action. Ehi Braimah is a public relations specialist, marketing strategist, and publisher/editor-in-chief of Naija Times and Lagos Post.
