Keypoints
- Stakeholders at the second Nigeria–South Africa Economic Diplomacy Roundtable in Lagos called for a shift from rhetoric to practical trade policies.
- MTN Nigeria hosted the event, emphasizing that Africa’s future depends on removing barriers to payments, talent mobility, and trade.
- Intra-African trade remains below 20%, highlighting critical gaps in infrastructure, logistics, and regulatory cooperation.
- Leaders identified manufacturing, agriculture, digital trade, and energy as the primary sectors for bilateral industrialization.
- The roundtable advocated for “economic diplomacy” to bridge infrastructure gaps and attract sustainable capital to the continent.
Main Story
The two largest economies in Africa are being called upon to move beyond diplomatic promises and build the systems necessary to make the African Continental Free Trade Area (AfCFTA) a reality.
At a high-level roundtable hosted by MTN in Lagos on Thursday, April 23, 2026, business leaders and diplomats argued that the success of the continent depends on the “deliberate collaboration” of Nigeria and South Africa.
MTN Nigeria CEO Karl Toriola, represented by CMO Onyinye Emeka-Ikenna, noted that despite a continental population of 1.4 billion, growth is still stifled by a lack of cross-border payment systems and the non-recognition of professional qualifications.
The consensus among participants—including representatives from the South African High Commission and the Lagos State Government—was that these “Chapter 1” challenges must be solved through digital infrastructure and unified regulatory frameworks.
By aligning their economic strategies, Nigeria and South Africa can create trade corridors that lower costs and increase the competitiveness of African goods on the global stage.
The Issues
The primary challenge is the implementation-execution gap; while the AfCFTA policy exists on paper, intra-African trade remains stuck below 20% due to fragmented regulations and poor transport networks. Authorities must solve the problem of payment-system friction, as the inability to move money seamlessly across borders remains a major hurdle for SMEs.
Furthermore, there is a talent-mobility risk; the failure to recognize professional certifications across different African nations prevents the “brain gain” needed to scale continental industries. To succeed, both nations must move from “dialogue to concrete outcomes,” prioritizing joint ventures in energy and manufacturing while leveraging Lagos as a strategic commercial gateway to West Africa.
What’s Being Said
- “Trade does not thrive on promises; it thrives on systems that work,” stated Karl Toriola, adding that MTN has invested heavily in the digital infrastructure to support this integration.
- Nompilo Morafo of MTN Group noted that when Nigeria and South Africa work together, “they power not only their economies but the continent’s future.”
What’s Next
- Nigeria and South Africa are expected to establish joint trade corridors focusing on manufacturing and digital trade to set a template for other AfCFTA members.
- Further pressure will likely be applied to central banks to accelerate the integration of cross-border digital payment systems to facilitate SME trade.
- The Nigeria–South Africa Chamber of Commerce is anticipated to lead more private-sector joint ventures in the energy and agriculture sectors.
- Lagos State is expected to roll out more regulatory reforms specifically aimed at attracting South African foreign direct investment into its industrial zones.
Bottom Line
Nigeria and South Africa are the “powerhouses” of the African story. If they can align their regulatory and digital systems, they won’t just improve their own bilateral ties—they will provide the blueprint for an integrated, prosperous, and self-sufficient continent.
