Aig-Imoukhuede Calls for African Banks to Support Growth

Aigboje Aig-Imoukhuede, Chairman of Access Holdings Plc, addressed the Africa Financial Summit (AFIS) 2026 in Luanda, Angola, warning that Africa's economic growth will be limited unless banks prioritize financing businesses, infrastructure, and job creation over mere profitability. He advocated for globally competitive African banks, easier access to credit, and deeper financial integration before pursuing a common currency.

Aig-Imoukhuede highlighted that many small businesses struggle to obtain financing despite supplying goods to financially strong companies. He urged the adoption of digital invoicing systems, citing India and Brazil as examples, to enhance business financing.

He also called for greater investment of pension funds in infrastructure, cautioning against using short-term bank deposits for long-term projects. He noted the withdrawal of some international banks from Africa has created opportunities for local institutions but stressed that ownership alone does not guarantee progress.

Aig-Imoukhuede emphasized the need for stronger payment systems and integration to unlock Africa's economic potential.