The world is shifting. We are talking, politically, technologically, and economically. Old global structures are being redefined, and at the heart of this transformation lies Africa: young, resource-rich, and brimming with innovation. No longer just a continent of potential, Africa is actively shaping the future.
With the African Development Bank (AfDB) projecting an expected 4% annual GDP growth over the next decade, Africa’s economic momentum is undeniable. Internet penetration has skyrocketed, fueling a digital revolution that is connecting businesses and consumers like never before. The African Continental Free Trade Area (AfCFTA) is set to create a $3.4 trillion market, redefining trade and investment across the continent. Meanwhile, tech startups are attracting record-breaking funding, highlighting Africa’s position as a hub for innovation.
Yet, growth must be inclusive. SMEs, which, by the way, drive 80% of employment, need better access to capital and markets. Women and young entrepreneurs still face barriers in funding, employment, and digital access. Investing in broadband, financial inclusion, and sustainable infrastructure is not just necessary, it’s urgent.
The Tony Elumelu Foundation has demonstrated how empowering entrepreneurs can drive lasting economic change. By investing over $100 million in young business owners, creating hundreds of thousands of jobs, and lifting millions out of poverty since 2010, the Foundation has set a blueprint for sustainable growth. More importantly, it proves that Africa’s development is best driven from within, with partnerships built on collaboration rather than outdated donor-recipient models.
As we move deeper into what many call the “African Century,” the world must rethink how it engages with Africa. This is not a continent waiting for aid but a powerhouse ready to lead. The key to lasting success? Equitable partnerships, investment in local talent, and a recognition that Africa’s rise benefits everyone. The future is not just happening to Africa, Africa is shaping the future.
For more insights on this article from our Group Chairman, Tony O. Elumelu, CFR, go to World Governments Summit.
