Former President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has urged African countries to move beyond exporting raw materials and build globally competitive industries through industrialisation, technological innovation and visionary leadership.
Adesina said Africa must transform its vast natural resources, youthful population and expanding markets into productive capacity, quality jobs and broad-based prosperity to strengthen its position in the global economy.
He made the call while delivering a keynote address titled “Africa’s Next Leap: Visionary and Ethical Leadership for an Integrated and Prosperous Africa in the Global Economy” at the BPI Iconic Awards in Johannesburg, South Africa.
The former AfDB president identified industrial capacity, technological innovation and deeper continental integration as critical to Africa’s economic transformation. He stressed that the continent must develop the capacity to process its resources, manufacture products and create technologies rather than remain dependent on commodity exports.
He cited Nigeria’s $20 billion Dangote Refinery as an example of the scale of industrial investment possible on the continent, urging African countries to develop more industrial champions across strategic sectors.
According to him, Africa needs globally competitive industries in automobiles and electric vehicles, batteries, steel, machinery, pharmaceuticals, medical technology, food processing, software and artificial intelligence.
He said the continent’s development would depend on its ability to retain more value from its natural resources by expanding local processing, refining, manufacturing, research and innovation.
Adesina said Africa must deliberately build the skills, infrastructure and industrial ecosystems required to compete in a rapidly changing global economy.
On technology, he urged governments, universities and vocational institutions to prepare young Africans not only to use emerging technologies but also to develop them.
He identified artificial intelligence, robotics, advanced manufacturing, biotechnology, cybersecurity and data science as areas in which African countries must build expertise and compete globally.
He argued that Africa’s youthful population could become a major economic advantage if governments invested in education, relevant skills, technological capacity and opportunities for young people to establish businesses and create jobs.
“Africa’s greatest asset is its people,” he said, emphasising the need to equip the continent’s young population with the capabilities to drive innovation, entrepreneurship and industrial growth.
Adesina also called for greater investment in universities, laboratories, computing infrastructure and industrial ecosystems to enable African researchers and businesses to participate in developing advanced technologies.
He warned against an approach that leaves Africa merely consuming technologies developed elsewhere, insisting that the continent should aspire to become a producer and innovator in the global technology economy.
The former AfDB president further urged African governments to maximise the potential of the African Continental Free Trade Area (AfCFTA), describing it as more than a trade arrangement.
He said the continental initiative could serve as an industrial platform for connecting markets, attracting investment and enabling African businesses to achieve the scale required to compete internationally.
According to him, African countries can develop complementary production networks by combining their strengths in minerals, energy, processing and manufacturing.
He maintained that the success of continental integration should be measured by the products and companies Africa creates, the value it retains and the competitiveness it achieves in international markets.
Adesina, however, stressed that industrialisation and technological advancement must be accompanied by ethical leadership, accountable governance and strong public institutions.
He said public power and resources must be deployed in the public interest, with transparency, accountability and due process guiding decisions on public finances, infrastructure, mining agreements and strategic partnerships.
“The national interest must stand above all other interests,” he said, urging African leaders to assess their decisions by whether they serve their countries, expand opportunities and create lasting value for future generations.
He called on governments to invest in their people, connect markets, build competitive industries and support entrepreneurs while strengthening institutions that command public trust.
Adesina said Africa’s future prosperity would depend on leaders who combine ambition with discipline, innovation with integrity, and economic growth with a commitment to public service.
He urged the continent to seize its demographic, resource and market advantages to build productive economies capable of competing in the global marketplace.
He stressed that Africa’s next phase of development would require deliberate choices to promote technological innovation, industrialisation and economic integration rather than relying on the continent’s enormous potential alone.