Dele Kelvin Oye says women-led enterprises in AfCFTA are vital for Africa’s economic growth, urging targeted support and trade reforms for greater impact
Women-led enterprises in AfCFTA are central to unlocking Africa’s economic potential, according to Dele Kelvin Oye, immediate past chairman of the Organised Private Sector of Nigeria and 22nd president of NACCIMA.
Speaking at a high-level forum organised by Zenforte and UNDP in Abuja, Oye stressed that women-owned businesses—which make up 40% of enterprises across Africa—are still underutilised drivers of innovation, economic inclusion, and job creation.
“Women-led enterprises are not just an essential part of the continent’s economy; they represent a profound opportunity for growth and innovation,” Oye said in a statement on Monday.
Oye noted that the African Continental Free Trade Area (AfCFTA) presents a transformational platform to empower women-led businesses through market access, competitiveness, and cross-border opportunities.
“By dismantling trade barriers and promoting economic integration, AfCFTA can empower women-led businesses to tap into new markets and significantly contribute to Africa’s economic growth,” he stated.
However, Oye acknowledged that women-led enterprises face multiple hurdles, including:
- Limited access to finance
- Market accessibility issues
- Capacity and skills gaps
He said these limitations hamper women’s ability to navigate trade regulations and scale their businesses across borders.
Addressing Nigeria’s macroeconomic situation, Oye criticised the Central Bank of Nigeria’s decision not to honour $2.4bn FX forwards, warning that such actions damage investor confidence.
“This unilateral decision has triggered unnecessary litigations and imposed additional financial burdens on already struggling businesses,” he warned.
Oye urged the government to adopt stable and inclusive policies, especially for the private sector, to foster a more resilient economy.
The former NACCIMA president called for sustained partnerships between government, financial institutions, and business leaders to support women-led enterprises.
“We must collaborate on several fronts—improve access to finance, expand market entry, and invest in capacity building,” he added.
Concluding his remarks, Oye reiterated that AfCFTA offers a transformative path for women entrepreneurs.
“By encouraging economic integration and providing targeted support, we can unlock the potential of these businesses and contribute meaningfully to Africa’s development.”
