Africa: RMB Reaffirms Commitment to W'africa's Trade-Led Growth

Rand Merchant Bank (RMB), a leading African corporate and investment bank, reaffirmed its commitment to fostering trade-led growth in West Africa.

The bank in a statement reiterated this at the Global Trade Review (GTR) West Africa 2025 conference held recently in Lagos.

RMB in a statement noted that the two-day event, themed, "Financing Growth in West Africa's Trade Epicentre," convened over 45 speakers and a diverse mix of stakeholders across the trade and finance ecosystem. It served as a strategic platform for deepening regional trade integration, sharing insights on policy trends, and strengthening business-to-business engagement across borders."

Speaking during a high-level panel session titled "Ghana, Nigeria and Beyond: Assessing Trade Prospects," Head of Treasury and Trade Solutions at RMB Nigeria, Oluwaseyi Onanuga, underscored the growing confidence in Nigeria's economic environment following recent policy adjustments.

"The robust economic reforms initiated by Nigeria's current administration are commendable steps towards advancing the economy. Measures like removing fuel subsidies and liberalising the foreign exchange market aim to foster macroeconomic stability and attract both local and foreign capital. Additionally, the Central Bank of Nigeria's financial sector reforms are strategic efforts to safeguard the economy and bolster investor confidence."

Onanuga's remarks reflect growing investor optimism, particularly within trade finance and supply chain sectors, as Nigeria seeks to reposition itself as a key economic hub on the continent.

With West Africa's two largest economies Nigeria and Ghana entering a phase of structural reforms and enhanced regional cooperation, Onanuga described the 2025 outlook for intra-African trade as encouraging.

"We anticipate robust growth in intra-African commerce under the African Continental Free Trade Area (AfCFTA)," he noted. "Enhancements to regulatory frameworks and payment-settlement infrastructures will broaden the trade-finance market, drive down transaction costs, reduce concentration risk, lower barriers to entry for emerging players, and foster a more inclusive and resilient trading environment in the region."

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