Interview with Mayowa Egunjobi, Vice President-Client Manager, Deutsche Bank-Lagos Rep office: Boosting Growth through Trade Finance and Green Infrastructure in Africa

Mrs. Egunjobi, congratulations on your promotion to Vice President at Deutsche Bank. With over 18 years of experience in the high-stakes world of international banking and trade finance, you have emerged as a recognised expert in shaping U.S.–Africa financial engagement. Thank you for making out time to engage with us on this brief discussion.”

Thank you for having me and for the kind words!

Global discussions are shifting quickly towards sustainability, economic stability, and building strong partnerships. What is Africa’s role in these changes, especially in trade and infrastructure?

Africa is becoming a key player in global growth. While the continent does face challenges with infrastructure, energy, and financing, there are also exciting opportunities. With a young population, plenty of natural resources, and a focus on diversifying economies, Africa can advance rapidly—especially if partners like Europe, China, and the U.S. engage more deeply in trade finance to support sustainable and inclusive infrastructure projects.

Recently, we’ve noticed increased interest from the West in Africa, particularly from the U.S. with initiatives like Prosper Africa, DFC, and EXIM. Are these just superficial efforts, or are real changes occurring?

There is indeed some progress being made. The U.S. is actively trying to rejuvenate its economic relationships with Africa. For example, DFC has invested in solar mini-grids in Nigeria, and EXIM is backing transportation infrastructure in East Africa. These actions are not merely symbolic; they represent steps toward establishing long-term partnerships that benefit both sides. However, we need to ensure this momentum translates into projects that close Africa’s significant trade finance gap.

Why do you think trade finance has become so important in the U.S.–Africa relations?

Trade finance is crucial for moving goods, money, and services between countries. Without it, even great ideas can struggle to get off the ground. For the U.S., supporting trade finance in Africa is not just a good deed—it’s a strategic decision. It opens up markets for American exports, strengthens alliances, and helps maintain competitiveness in a world where China is increasingly involved in Africa through initiatives like the Belt and Road Initiative.

What unique advantages do Western institutions provide to support infrastructure development in Africa compared to other global players?

Western institutions often prioritise transparency, environmental sustainability, and engagement with the private sector. That’s vital. Africa doesn’t just need new infrastructure; it requires sustainable and resilient infrastructure. U.S. initiatives are increasingly aligning with these principles. What’s crucial now is to move from planning to action—getting projects ready and funded more quickly.

Despite these advances, several challenges remain. What are the biggest hurdles?

A few key issues stand out: currency fluctuations, debt challenges for countries, weak local credit systems, and limited access to trade finance for small businesses. Often, small businesses struggle to join global supply chains because they don’t have the necessary guarantees or credit history. Addressing this requires innovative financial solutions, technology-driven trade platforms, and support that attracts both regular and socially-minded investors.

What advice would you give to African financial institutions looking to access U.S.-based trade finance?

First, they should build their internal capabilities by understanding the structure, risks, and compliance expectations of U.S. institutions. Establish strong frameworks for environmental, social, and governance (ESG) factors. Additionally, they should focus on transparency and making sure projects are ready. A good idea isn’t enough; it needs to be structured well, measurable, and scalable. U.S. partners are searching for opportunities that match their values and goals.

Looking ahead, how will these initiatives affect everyday people or entrepreneurs in Africa?

This is where the real impact becomes clear. When trade finance flows efficiently, small and medium-sized businesses can procure materials, meet international orders, and create jobs. Sustainable infrastructure projects—such as solar energy and improved transport networks—can boost productivity, lower energy costs, and enhance quality of life. It’s about fostering prosperity at the local level, not just for the elite.

Do you think U.S.–Africa trade finance collaboration can help meet global climate goals, or is that unrealistic?

It’s essential. Africa contributes little to global emissions but suffers significantly from climate change impacts. By financing sustainable infrastructure—like renewable energy and smart agriculture—the U.S. and its partners can help Africa grow without repeating the pollution-heavy paths of older economies. This approach not only helps meet global climate targets but also promotes fairness and global sustainability. So no, it’s not unrealistic; it’s exactly the kind of ambition we need.

Can you explain why 2023 is such a crucial year for U.S.–Africa economic relations?

In 2023, efforts to strengthen U.S.-Africa relations are more important than ever, as they present a unique opportunity for new collaborations. For the U.S. and its allies, deepening trade and finance partnerships now is not only about supporting African development—it’s about building shared resilience, shaping a more balanced world economy, and creating inclusive growth for decades to come.