How financial integration can help regional integration in Africa

Intra-African trade, especially with Nigeria and South Africa, is growing at a robust pace. It increased more than fivefold in 1995-2012 from US$27.9 billion to US$148.9 billion. However, given that intra-African trade remains the lowest in the world – 12% compared to 25% for the ASEAN region and 17% among the Mercosur countries – there is scope for more growth.