Africa’s huge market faces production gap, threatens trade boom — LTIF 2026

Africa has the population, natural resources and expanding consumer markets to build a much stronger internal trading economy, but inadequate production capacity remains a major obstacle to unlocking that potential.

This was one of the key messages at the opening day of the 2026 LoveWorld Trade and Investment Forum (LTIF) in Accra, Ghana, where business leaders and investors examined the disconnect between Africa’s huge market opportunities and its ability to produce competitive goods and services for the continent.

Speaking at the forum, Stephanie Oforka, Executive Minister of Commerce at LoveWorld and Convener of LTIF, urged African businesses to move beyond a consumption-driven economic model and focus more deliberately on production, innovation, investment and value creation.

She said economic prosperity could not be built on market potential alone, stressing that production must remain at the centre of Africa’s development strategy.

Oforka also called for a broader approach to African commerce, urging businesses to look beyond their domestic markets and exploit opportunities across the continent.

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According to her, African borders should not become barriers to prosperity, as businesses can expand by identifying customers, suppliers, investors and strategic partners in other African markets.

The call comes amid growing intra-African trade, although the continent continues to trade far below its potential.

Nigeria’s trade with other African countries rose from $7.47 billion in 2024 to $9.02 billion in 2025, representing a 21 per cent increase.

Despite the growth, an estimated more than $7 billion in potential intra-African exports in West Africa remains unrealised, underscoring the gap between market demand and the capacity of local businesses to supply it.

For Nigeria, the challenge presents both an economic problem and an investment opportunity.

With one of Africa’s largest consumer markets, a substantial agricultural base and significant industrial potential, the country could capture a larger share of regional trade if businesses move further up the value chain.

Rather than relying heavily on the export of raw commodities, Nigerian businesses would need to expand processing, manufacturing, packaging and distribution capacity to compete more effectively across African markets.

Industry analysts say achieving this would also require improvements in infrastructure, technology, logistics, product standards and access to affordable working capital.

The LTIF discussions therefore focused not only on attracting investment but also on the productive capacity that such investment should create.

Sectors including agriculture, manufacturing, technology, financial services and logistics offer significant opportunities as African economies deepen regional integration and businesses seek to scale beyond their domestic markets.

The central message from the forum was clear: Africa does not lack markets or demand. The bigger challenge is building the capacity to produce enough competitive goods and services to satisfy that demand from within the continent.

How effectively African economies address that production gap could shape the next phase of the continent’s economic story—from one dominated by untapped potential to one defined by increased production, trade, investment and wealth creation.