Pan-African growth barriers must go, says Cavista chair

Chairman of Cavista Holdings and the Corporate Council on Africa, Niyi Olajide, has called on African leaders to remove bureaucratic barriers to create an enabling environment for businesses to thrive on the continent.

Olajide said this when he spoke at the 10th Anniversary Chieftaincy Installation ceremony at the Ooni of Ife’s Palace, where he emphasised that Africa’s economic future depends on nations establishing practical frameworks for regional cooperation and private sector growth.

Olajide argued that Africa’s 1.4 billion people and combined GDP of over $3tn remain underutilised due to fragmented markets and strict cross-border business policies.

“Nigeria’s prosperity is inextricably linked to Ghana’s success. Progress in one African nation creates opportunity across the continent,” Olajide stated. “We must eliminate bureaucratic obstacles that discourage regional investment and make it easier for African businesses to operate across our borders.”

The Cavista Holdings chairman specifically commended business leaders like billionaire Aliko Dangote, who have expanded investments across African borders, demonstrating the viability of pan-African enterprise.

Olajide challenged African governments to move beyond declarations to concrete action—streamlined regulations, transparent investment frameworks, reduced trade barriers, and protected property rights.

“Africa’s young population deserves leadership that creates business-friendly environments,” he emphasised. “The African Continental Free Trade Area represents tremendous potential, but its promise will only be realised through deliberate action, such as ensuring harmonised standards, efficient customs procedures, and predictable business regulations.”

He highlighted the Nigeria-Ghana relationship as a template for broader African economic cooperation. “The time for Nigeria and Ghana to deepen their economic partnership is now. What we build between Accra and Lagos can become the blueprint for the entire continent.”

“This is not only an economic imperative; it is a moral one,” Olajide stated. “I urge all stakeholders, heads of state, investors, and business communities to deepen partnerships and work together for an Africa that is prosperous, peaceful, and globally competitive.”

The Ooni of Ife corroborated this vision, calling for deepening historical and cultural ties between Nigeria and Ghana while emphasising economic cooperation for citizens’ benefit.

Cavista Holdings operates across four continents, with its portfolio of companies playing in key sectors such as agriculture, financial services, healthcare, hospitality and technology.