|By Adejumo Adekunle-
-EU Commits €1.1 Billion to Africa’s Free Trade Goals
–UN, AU, and NEXIM Bank Join Forces to Boost MSMEs Across the Continent
The European Union (EU) has announced a major financial commitment of €1.1 billion in support of the African Union’s implementation of the African Continental Free Trade Agreement (AfCFTA) — a move aimed at transforming intra-African trade and unlocking the continent’s full economic potential.
The Head of Cooperation at the EU Delegation to Nigeria and ECOWAS, Mr. Massimo De Luca, made this known on Monday at the 4th African Union Micro, Small and Medium Enterprises (MSMEs) Forum held in Abuja.
De Luca stressed that while AfCFTA presents “an unprecedented opportunity for African integration,” small businesses remain constrained by persistent barriers — especially limited access to finance.
“Our EU initiative in support of the African Union in the implementation of the AfCFTA hovers around €1.1 billion.
The African Continental Free Trade Area represents an unprecedented achievement towards realising Africa’s full economic potential and integration,” De Luca stated.
“But if Africa fails to harness the informal sector’s potential, we will keep going round the same cycle of despair.”
He reaffirmed the EU’s commitment to inclusive and sustainable industrial development across Africa in partnership with ECOWAS and the African Union.
Also speaking, the UNDP Resident Representative in Nigeria, Ms. Elsie Attafuah, called for the creation of enabling ecosystems to move African MSMEs from mere survival to scalable impact.
“MSMEs are the builders of local prosperity. They innovate, employ, and adapt. But they cannot thrive on resilience alone,” she said.
“They need access to capital, innovation platforms, and markets that truly value their contributions.”
The forum also witnessed a significant appointment by the Permanent Representative of the African Union Sixth Region Global (AU6RG) to Nigeria and ECOWAS, Ambassador Afolabi Oke.
Oke announced Mr. Temitola Adekunle-Johnson, Nigeria’s Special Adviser to the President on Job Creation and MSMEs, as the Special Adviser to the AU Sixth Region on Job Creation and MSME Development.
“The AU Sixth Region Global represents Africans in the diaspora and Friends of Africa. We are committed to integrating the diaspora into continental development,” Oke noted.
Meanwhile, the Managing Director of the Nigerian Export-Import Bank (NEXIM), Mr. Abubakar Abba Bello, stressed the importance of MSME financing to boost local production and drive AfCFTA success.
“Africa must look inward to develop its value chains. Our ability to succeed under the AfCFTA lies in production capacity and smart financing,” Bello said.
The 4th AU MSME Forum brought together stakeholders from across the continent and beyond, reaffirming collective commitment to transforming Africa’s economic narrative through inclusive policies, finance, and regional trade integration.
