KIGALI (AEA) — The 2026 Africa CEO Forum opened in Kigali on Thursday with a call for the continent’s private sector to seize the “historic opportunity” presented by the African Continental Free Trade Area (AfCFTA) to end Africa’s reliance on raw material exports.
The event, which has become the premier gathering for Africa’s business elite, attracted over 2,500 participants, including Nigerian President Bola Ahmed Tinubu and several other regional heads of state.
President Paul Kagame, in his opening keynote, emphasized that political agreements on trade are useless without “aggressive investment” from the private sector.
“The AfCFTA is the engine, but the private sector is the fuel,” Kagame told the delegates.
“We have the largest free trade area in the world, yet we still trade more with Europe and Asia than we do with each other. This must change, and it must change starting today in Kigali.”
The forum’s agenda is dominated by discussions on digital transformation, energy transition, and “sovereign supply chains.”
A major highlight of the first day was the signing of a strategic partnership between Rwanda’s I&M Bank and a consortium of West African investors, aimed at facilitating cross-border payments for small businesses.
President Tinubu’s presence was particularly noted. Nigeria’s participation in the Kigali-hosted forum marks a significant diplomatic warming between West and East African powerhouses. Tinubu called for
“the removal of the invisible walls” that hinder the movement of goods and people across the continent, echoing Kagame’s long-standing push for visa-free travel for all Africans.
Kigali continues to leverage its reputation for safety and ease of doing business to position itself as a “neutral ground” for continental deal-making. However, the forum also touched on the rising cost of debt for African nations, with the International Finance Corporation (IFC) warning that high interest rates are stifling the very entrepreneurs the forum seeks to promote.
“The energy in Kigali is palpable,” said IFC Managing Director Makhtar Diop. “But we must be realistic. Without lower-cost capital, the dream of an integrated African market will remain just that—a dream.”
