African small and medium-sized enterprises (SMEs) are missing out on a staggering $38 billion in export revenue every year, according to a leading expert. This massive financial shortfall highlights the continent's ongoing struggle to secure a meaningful share of international commerce.
Structural Hurdles Cripple African Export Potential
Professor Benard Odoh, the Founder and CEO of Valcertra, made this shocking revelation during the Valcertra Business Summit held in Abuja on Monday. He pointed a finger at deep-rooted systemic problems plaguing the continent's trade landscape.
Odoh identified structural bottlenecks, weak export infrastructure, and cumbersome regulatory constraints as the primary culprits behind the annual $38 billion loss. He lamented that despite global demand, Africa's participation in world trade remains minimal, accounting for only three per cent of total global trade volume.
"This is not because Africa lacks quality products or capable producers," Odoh explained. "The breakdown occurs due to a collapse of trust along the trade chain, manifested through product rejections, documentation gaps, inconsistent standards, and fragmented systems."
He provided a sobering statistic: nearly 70 per cent of African producers who attempt to export never succeed. Their failure is not linked to poor quality or lack of effort, but because the pathways to international markets are often unreliable, opaque, and slow.
Valcertra: A Digital Gateway to Global Markets
In response to this crisis, Odoh announced that the digital trade platform, Valcertra, will be formally launched in early 2026. Designed as Nigeria's first verified export gateway, it aims to connect African manufacturers, farmers, and traders directly to verified buyers in key markets like the United Arab Emirates, the United Kingdom, the United States, and Canada.
The platform is being positioned as Africa's first full-stack trade infrastructure, built specifically to dismantle the decades-old barriers to export. It promises to guarantee product quality, ensure compliance with international standards, provide traceability, and enable predictable delivery.
Critically, Valcertra is designed to comply with the rules of the African Continental Free Trade Area (AfCFTA), which mandates a minimum of 40 per cent local value addition for exports. The platform is currently in a testing phase to incorporate feedback from stakeholders before its official debut next year.
Institutional Support and Standard Enforcement
The summit saw participation from major Nigerian trade and development bodies, including the Raw Materials Research and Development Council, the Nigerian Export Promotion Council, the Nigeria Export Processing Zones Authority, SMEDAN, and the AfCFTA Secretariat.
Dr. Emmanuel Ojowuro, Group Head of Product Development and Innovation at the Bank of Industry (BoI), underscored the institution's long-standing role in building export capacity. He stated that for over six decades, BoI has been supporting local businesses through financing, resources, and advisory services.
Dr. Ojowuro emphasized a strict adherence to standards, noting that BoI only finances products that meet required health and export benchmarks. This rigorous approach is why the bank is collaborating with Valcertra for validation and certification, ensuring all funded businesses produce goods that are compliant and competitive on the global stage.
Professor Odoh concluded with a call to action, urging African governments and private-sector leaders to strengthen policy frameworks, improve trade facilitation measures, and invest heavily in capacity building. This, he argued, is essential to empower SMEs to finally capture their fair share of the booming global demand for African products.
