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SIFAX GROUP CHAIRMAN URGES AFRICAN BUSINESS LEADERS TO PRIORITISE SCALE AND REGIONAL INTEGRATION
By Prince Benson Davies
The Chairman of SIFAX Group, Dr. Ta
iwo Afolabi, has urged African entrepreneurs and investors to focus on building large, enduring corporations that can compete on the global stage. He made the call during the Africa CEO Forum held in Kigali, Rwanda, in May 2026.
According to Afolabi, Africa’s economic progress will depend on the emergence of indigenous firms with the structure, capital base and operational reach to drive industrialisation and job creation. He argued that fragmented, small-scale enterprises limit the continent’s ability to attract investment and participate effectively in global markets.
He noted that discussions at this year’s forum consistently pointed to the need for collaboration, strategic expansion and a shift toward long-term business planning. Regional integration and stronger institutional frameworks, he said, are critical to unlocking scale.
“Africa’s growth will not come from thousands of isolated, undercapitalised businesses,” Afolabi stated. “We need strong institutions that can outlive their founders, operate across borders, access international capital, and stand alongside the world’s leading companies.”
While acknowledging the role of entrepreneurship, he stressed that the continent must move beyond subsistence ventures toward enterprises with solid governance, innovation capacity and continental reach. He called on governments, financial institutions and the private sector to create conditions that support expansion through better infrastructure, financing, regulatory clarity and intra-African trade.
Afolabi added that the African Continental Free Trade Area provides a timely platform for businesses to expand beyond national boundaries and develop truly pan-African operations. He said SIFAX Group’s strategy aligns with this vision, with ongoing investments in logistics, ports, transport and digital finance aimed at strengthening intra-African trade and supporting the implementation of AfCFTA.
