African trade infrastructure improves since 2022 Standard Bank

African trade is experiencing a period of increased momentum, with improvements observed across infrastructure, business confidence, and macroeconomic stability. This is the first time since the Standard Bank began tracking these trends that all three have improved simultaneously, according to the latest report.

The Standard Bank Africa Trade Barometer (ATB), Issue 5, examines ten key African markets—Ghana, Kenya, Nigeria, South Africa, and six others—representing 68% of Sub-Saharan Africa’s gross domestic product (GDP). The report, released on March 5, 2026, details these findings.

Infrastructure Improvements

Firms across all surveyed economies reported positive changes in major infrastructure categories. These include improvements in power, telecommunications, roads, rail, ports, and digital border systems. This reflects increased investment in logistics capacity and digital trade facilitation across the continent.

Business Confidence and Economic Growth

The business confidence index rose to 65, indicating expectations of stronger turnover and more stable trading conditions. Economic growth across ATB markets is projected to reach 4.3% in 2026. Moderating inflation in seven of the ten economies is supporting this growth. In Ghana, rate cuts improved credit affordability, and digital tools expanded access for small and medium-sized enterprises (SMEs). Perceived government support for cross-border trade also increased in Ghana and six other surveyed markets, attributed to policy reforms aimed at streamlining customs processes and improving logistics.

Digital Payments and Trade Facilitation

Digital payments are increasingly prevalent in cross-border trade, facilitating 78% of cross-border sales and 79% of purchases. This is driven by bank-led payment rails, mobile money integration, and the growing adoption of the Pan African Payment and Settlement System (PAPSS). PAPSS enables faster settlement in local currencies and reduces reliance on hard currency intermediaries.

African Continental Free Trade Area (AfCFTA) Awareness

Awareness of the African Continental Free Trade Area (AfCFTA) has reached 50% among surveyed firms, the highest level since the ATB’s launch in 2022. Firms cite easier movement of goods, wider market access, and industrialization benefits as key drivers of engagement with the framework.

Regional Performance

East Africa demonstrated the strongest performance in Issue 5, with a 10-percentage-point increase in export activity. This is attributed to policy coordination reforms and the Kenya-Uganda trade reclassification, which treats goods originating in Kenya as intra-regional transfers, reducing administrative friction within the East African Community.

Climate Change Impacts

Climate-related pressures remain a concern, with 38% of firms reporting demand shifts due to climate impacts and 32% citing productivity losses. This highlights the need for resilient infrastructure investment.

Global Trade Dynamics

Recent changes in United States tariffs, including uncertainty surrounding the African Growth and Opportunity Act (AGOA), are contributing to declining engagement with US trade partners. Conversely, engagement with Asian markets, particularly China, is accelerating due to competitive pricing, product variety, and supply-chain reliability.

The full Standard Bank Africa Trade Barometer Issue 5 report is available on the Standard Bank website.