Gambian Businesses Encouraged to Tap into Intra-Africa Trade Opportunities at Bloom Bank Africa’s Inaugural Breakfast Meeting

Gambian businesses have been encouraged to leverage new opportunities in intra-African trade at the inaugural Bloom Bank Africa Gambia Breakfast Meeting. Held under the theme, “Trade Africa, Trade Global: A Discourse on Trade and Trade-Enabling Infrastructure,” the event spotlighted the importance of financial infrastructure, partnerships, and cross-border payment systems in advancing Gambia’s regional and global market integration.

The forum, which took place at the Sir Dawda Kairaba Jawara International Conference Center on November 11, 2024 was organized by Bloom Bank Africa Gambia Limited, a key player in Gambia’s financial sector, focused on fostering economic growth and financial inclusion. The event attracted prominent speakers, industry leaders, dignitaries, and regional institutions, all dedicated to enhancing Gambia’s trade landscape.

Alfred Amoah, MD/CEO of Bloom Bank Africa Gambia, emphasized the bank’s role in connecting Gambian businesses to regional markets. “Our bank is committed to creating pathways between Gambian businesses and broader regional markets, providing access to essential trade financing and facilitating secure cross-border transactions,” Amoah stated. He highlighted the bank’s partnerships with the African Export-Import Bank (Afreximbank) and the Pan-African Payment and Settlement System (PAPSS) as crucial in streamlining trade finance and payment processes for African markets.

Mr. Alain-Thierry Mbongue, Acting Regional Chief Operating Officer for Afreximbank in Anglophone West Africa, reinforced the bank’s support for Gambian businesses through robust financing options. “Gambia’s trade potential is immense, and Afreximbank is committed to providing the resources and support necessary for businesses to realize it,” he said, noting Afreximbank’s mission to simplify access to regional markets and support the African Continental Free Trade Area (AfCFTA) objectives.

Mr. Gabriel Edgal, Intra-Africa Trade Fair Ambassador for Afreximbank, addressed the potential of the IATF as a unique platform for promoting regional trade and empowering African businesses. He encouraged Gambian businesses to capitalize on the IATF for networking, partnerships, and trade deals, emphasizing the opportunity to showcase Gambian products continentally. “Through the IATF, we are shaping Africa’s trade future, empowering businesses to connect, collaborate, and grow,” Edgal said, noting the fair’s impact in generating billions in trade deals.

Another key highlight was Mr. Mike Ogbalu’s insights on the role of cross-border payments in facilitating trade. As CEO of PAPSS, Ogbalu underscored the importance of a seamless, efficient payment system for advancing trade. “PAPSS breaks down barriers by enabling efficient payments across Africa, offering Gambian businesses a secure pathway to engage in cross-border trade,” he explained, adding that the system reduces currency exchange risks and strengthens Gambia’s role in intra-African commerce.

The event featured esteemed speakers, including representatives from Gambia’s government and private sector. Attendees included the Hon. Minister of Finance & Economic Affairs, Hon. Minister of Trade, Industry, Regional Integration, and Employment, and the Governor of the Central Bank of The Gambia, along with members of the Gambia Manufacturers Association and the Gambia Investment and Export Promotion Agency (GIEPA). These officials provided insights on trade-supportive policies and reiterated the government’s commitment to boosting Gambia’s economic potential.

This inaugural Breakfast Meeting has set a strong foundation for future forums. Bloom Bank Africa Gambia confirmed its commitment to making the series a regular event, aiming to build a more inclusive trade network and create collaboration opportunities for stakeholders. Future sessions are expected to cover topics like digital transformation, financial literacy, and investment strategies, all crucial for Gambian business growth.

About Bloom Bank Africa Gambia Limited

Bloom Bank Africa Gambia Limited is a leading institution in The Gambia’s financial sector, with a mission focused on economic growth and financial inclusion. Known for its customer-focused approach and innovative solutions, Bloom Bank Africa Gambia provides a suite of banking products tailored to individuals, SMEs, and corporations. Through initiatives like the Breakfast Meeting Series, Bloom Bank aims to bridge connections across Africa, helping businesses access new markets and opportunities to “make it happen.”