Flutterwave CEO Calls for Accelerated Intra-Africa Trade at World Economic Summit
Flutterwave Founder and CEO Olugbenga “GB” Agboola has called for intensified efforts to build infrastructure and promote cross-border trade within Africa, warning that the continent cannot afford to remain economically fragmented amid growing global uncertainties.
Speaking during a fireside chat with Payoneer CEO John Caplan at the Semafor World Economic Summit, moderated by Semafor Africa Editor Yinka Adegoke, Agboola emphasized the urgency of developing sustainable, intra-African trade solutions.
“In a time when global trade is becoming more unpredictable, Africa cannot afford to remain fragmented,” he stated.
Agboola acknowledged progress in cross-border transactions across African nations beyond the continent’s major fintech hubs but expressed concern about the low percentage of trade occurring within Africa itself.
“We’re seeing momentum between countries like Nigeria and Ghana, Kenya and Uganda, Rwanda and Ghana. But intra-African trade is still underperforming. We must scale infrastructure to support it more aggressively,” he said.
He also underscored the long-term impact of global economic shifts on emerging markets, urging African nations to bolster regional trade and establish resilient supply chains.
Agboola cited key developments like the Ghana-Rwanda license passporting initiative, the Pan-African Payment and Settlement System (PAPSS), and the African Continental Free Trade Area (AfCFTA) as significant steps towards economic integration and competitiveness.
“Today, trade between African countries often routes funds through the US dollar. PAPSS and our infrastructure allow direct transactions—like naira to cedi—reducing both cost and time,” he noted.
While acknowledging challenges like tariffs, both Agboola and Caplan expressed optimism about the future of cross-border payments, particularly as small businesses and multinationals harness emerging technologies like artificial intelligence (AI) to reach new markets.
Flutterwave, already active in supporting sectors such as remittances, travel, fast-moving consumer goods (FMCG), and digital services, is positioning itself as a key driver in reshaping Africa’s digital economy.
“Global trade won’t wait—and Africa can’t wait either,” Agboola concluded.
