Africa Can Become a Global Powerhouse Within Five Years – But We Must Act Boldly
The transformation of Africa into a thriving economic and industrial powerhouse is not a distant dream—it can become reality within the next five years. It doesn't take forever. But it does require bold thinking, strategic investment, and a fundamental shift in how we approach growth.
As I’ve often said: think big, grow big. If we continue thinking small, we will remain small. The truth is, Africa still heavily relies on foreign partners and international banks to finance its development. That needs to change. We must build strong African-owned financial institutions and create the capital infrastructure necessary to power our own future.
The solution lies in taking charge of our resources and growth strategy. We need robust financial institutions, a solid manufacturing base, and investment in agriculture. These three pillars are critical. Technologies like artificial intelligence will naturally follow once the foundation is in place.
Most importantly, Africa must harness its own vast mineral resources for the benefit of its people. When we do this, Africa will no longer be spoken of as a continent of untapped potential—it will be recognized as a global leader.
Now, let’s address the issue that constantly overshadows our progress: corruption. Corruption exists everywhere—in Europe, in Asia, in the Americas. The difference is what people do with the proceeds. In many Asian economies, despite corruption, money stayed within the country and helped fuel growth. In Africa, stolen funds are often transferred abroad, depriving our economies of much-needed capital.
This is not to justify corruption, but to recognize its unique damage in our context. When stolen wealth is hidden overseas, it doesn’t benefit the people. It doesn’t help the economy. Worse still, it often disappears forever. This must change. If corrupt individuals invested even a fraction of that money locally—in infrastructure, businesses, and education—Africa’s growth would accelerate dramatically.
On a more hopeful note, we are making progress. For example, I’ve stated before—and I stand by this—that in the next 40 months, Africa will stop importing fertilizer. Our production capacity is expanding rapidly. We are on track to become the world’s largest producer of urea, surpassing even Qatar. This is not a fantasy—it’s a clear, measurable goal. Watch this space.
Africa has everything it needs: natural resources, a young and dynamic population, and the entrepreneurial spirit to thrive. What we need now is confidence, coordination, and commitment. The time for small thinking is over. The time for transformation is now.
