Annette Kiconco (Right), Chief Retail Banking Officer at dfcu Bank, receives a certificate of appreciation from Rt. Hon Baroness Sandip Verma, Founder of The Global Influence Club, the organizer of the event. dfcu bank is the main sponsor of the Breaking Barriers to Trade 2025 Conference
dfcu Bank has reaffirmed its commitment to inclusive economic growth and regional trade transformation at the Breaking Barriers to Trade 2025 Conference, one of Africa’s most important platforms for shaping the future of trade under the African Continental Free Trade Area (AfCFTA).
Delivering a keynote address, Annette Kiconco, Chief Retail Banking Officer at dfcu Bank, called for a decisive shift in how trade is approached across the continent—from a transactional model to one that is inclusive, sustainable, and transformative.
“This is more than a trade discussion. It’s a movement to ensure that every entrepreneur—from women in agribusiness to youth in tech—can participate meaningfully in Africa’s economic rise,” Ms. Kiconco stated.
Unlocking AfCFTA’s Promise
With AfCFTA now operational, connecting over 1.4 billion people and representing a combined GDP of US$3.4 trillion, the conference emphasized Africa’s unprecedented opportunity to redefine its role in global commerce. Ms. Kiconco stressed that Uganda, with its strategic location and growing export base, is well-positioned to lead this shift.
Recent data shows Uganda’s exports in 2024 reached US$8.16 billion while imports stood at US$12.7 billion, indicating a US$4.6 billion trade deficit.
In Q1 2025, exports hit US$2.6 billion, with manufactured goods rising by 72.1% in April alone.
“These figures highlight both the progress we’ve made and the urgent need to scale efforts that enable inclusive participation in trade,” she added.
dfcu Bank’s Three-Pillar Approach to Inclusive Trade
Ms. Kiconco detailed dfcu Bank’s strategy to dismantle key barriers through:
- Access to Finance
Offering tailored trade finance instruments, working capital, and digital solutions that bring SMEs into the formal trading ecosystem. - dfcu Women in Business Program
An award-winning initiative that has supported over 70,000 women entrepreneurs with funding, skills development, mentorship, and market access. - Sector-Led Growth
Aligning financial solutions with Uganda’s priority sectors that include agriculture, manufacturing, trade, ICT, infrastructure, and education; to support value addition and regional competitiveness.
The Future: Africa’s Trade Frontiers
Ms. Kiconco pointed to five emerging drivers that will shape Africa’s trade evolution. These include; Digital Innovation by Youth, Sustainable Trade Practices, Modern Trade Infrastructure, Diaspora Investment and Networks and Made-in-Africa Branding and Export Value.
“These are not futuristic ambitions. They are already reshaping the present. We must embrace them boldly,” she urged.
A United Call for Action
Ms. Kiconco concluded with a rallying message to policymakers, financial institutions, and development actors:
“Breaking trade barriers is not the work of one sector; it is a shared responsibility. Together, we can rewrite Africa’s trade story. Let’s make trade a lever for prosperity, not a privilege.”
The conference drew participation from across Africa’s policy, finance, and enterprise landscape, reinforcing the role of collaboration in advancing the AfCFTA and inclusive economic growth.
Great