Manny Ita-
Former president of the African Development Bank, Akinwumi Adesina, has co-founded a global platform aimed at attracting scarce capital into the continent amid rising protectionism and geopolitical tensions that are constraining global capital flows.
The Global Africa Investment Summit (GAIS) is designed to connect African governments with global chief executives and institutional investors, with the objective of accelerating Africa’s transition from aid dependence to investment-led economic growth. The initiative comes as Africa remains home to 12 of the world’s 20 fastest-growing economies but continues to struggle with fragmented markets and limited preparedness of public assets for private investment.
With a population of nearly 1.3 billion people and the world’s fastest-growing youth demographic, Africa is widely regarded as underperforming relative to its potential. Analysts point to an overreliance on development aid and insufficient mobilisation of private capital as major constraints on growth.
“Africa must unlock its vast sovereign assets to generate wealth,” Adesina said in a statement ahead of the summit, which is scheduled to hold in Angola later this year. “The Global Africa Investment Summit, as a market maker, is the globally trusted platform to unlock mega deals and assets by connecting Africa to global capital.”
Data from the United Nations Trade and Development World Investment Report shows that Africa’s share of global foreign direct investment remained weak in 2024, accounting for just 6 percent of total global inflows, lagging behind both developed and other developing regions.
Organisers of GAIS said the platform aims to reverse this trend by showcasing large-scale, bankable opportunities across the continent. They highlighted Africa’s demographic expansion, with its population projected to double by 2030, alongside a rapidly growing middle class and a consumer market expected to expand from $1.4 trillion in 2015 to $2.5 trillion by 2030.
They added that sectors such as critical minerals, metals, rare earths, energy, agriculture and digital infrastructure are particularly well positioned to attract investment, given rising global demand and Africa’s resource endowments.
The initiative has drawn backing from a number of global and African leaders, including Ghana’s President John Mahama, Kenya’s President William Ruto, Tanzania’s President Samia Suluhu Hassan, Italy’s Prime Minister Giorgia Meloni, Mozambique’s President Daniel Chapo, former United Nations Secretary-General Ban Ki-moon, former United Kingdom Prime Minister Tony Blair, Dangote Group founder Aliko Dangote and Guma Group chairman Robert Gumede, all of whom have underscored the need for Africa to more effectively harness its economic potential.
