Banjul, The Gambia – Dr. Walton Ekundayo Gilpin, Managing Director and Chief Executive Officer of Rokel Commercial Bank (RCBank), has emphasized that trade finance is a crucial catalyst for the successful implementation of the African Continental Free Trade Area (AfCFTA). Speaking at the African Trade Leaders Dialogue, Dr. Gilpin warned that Africa’s integration agenda may stall without strong financial backing.
“Trade liberalisation without trade finance cannot deliver meaningful integration. Finance is the engine that must power AfCFTA,” Dr. Gilpin said, highlighting the urgent need to bridge Africa’s trade finance gap. He noted that many African businesses, particularly small and medium-sized enterprises (SMEs), remain excluded from cross-border trade due to limited access to affordable and reliable trade finance instruments.
Dr. Gilpin called for deeper collaboration among African banks, governments, and development partners to design inclusive, sustainable, and responsive financing frameworks. He also emphasized the importance of innovative and digital trade finance solutions, citing their potential to reduce transaction costs, improve transparency, and strengthen regional value chains.
The RCBank CEO’s remarks echoed a broader consensus among African financial leaders that trade finance should be treated as a strategic driver, rather than a peripheral tool, in achieving AfCFTA’s transformative goals. Dr. Gilpin highlighted the need to address payment settlement challenges, logistical bottlenecks, limited productive capacity, weak value addition, and trust deficits to shrink the trade finance gap and enable AfCFTA to deliver shared prosperity across the continent.
The African Continental Free Trade Area (AfCFTA) aims to create a single market for goods and services, promoting economic integration and reducing poverty. However, its success hinges on addressing infrastructure deficits, regulatory harmonization, and trade finance challenges.
