DUBAI, United Arab Emirates (Bantu Gazette) — Africa offers some of the most lucrative investment opportunities globally, with significant returns across the energy, financial services and agriculture sectors, industry leaders said Tuesday at the World Governments Summit in Dubai.
During a panel discussion titled “The New Economic Revolution: An African Perspective,” they emphasized Africa’s untapped potential and called on global investors to seize the moment.
Tony Elumelu, founder of The Tony Elumelu Foundation, highlighted the continent’s profitability, stating, “There’s no way else we get the kind of returns on investments as what we make in Africa.”
He acknowledged the risk perception but urged investors to focus on strategically structuring their approaches.
“You may decide to see risks or challenges, or you may see opportunities,” Elumelu stated that identifying opportunities and structuring an investor’s risk offers a competitive advantage for investors and their businesses.
Elumelu highlighted Africa’s demographic advantage, calling it a game-changer: “The median age is 19… This is a huge opportunity. 1.5 billion people, over 65 percent under the age of 30.”
He pointed to the energy sector as a prime investment area. “There’s nowhere else you can’t invest in power sector and you start making—paying dividend to investors year three. That happens in Africa.”
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), reinforced the call for investment, dismissing the notion of a natural resource cost.
“The issue is not how can resources that are supposed to make you rich be a cost. What you have is a cost of leadership, lack of transparency, and accountability in managing those natural resources.”
Adesina emphasized agriculture’s potential, urging investors to shift their focus. “People talk about oil and gas. Yes, okay, but who drinks oil? Who smokes gas? … The size of that market, food market, by 2030 is going to be $1 trillion. And so investing in agriculture, investing in agricultural value chains is the key.”
African Investment Guarantee Agency
To mitigate investment concerns, Adesina outlined risk management instruments provided by the AfDB, including partial credit guarantees, partial risk guarantees, and the African Investment Guarantee Agency.
“Those instruments are there. The opportunities are massive. The risk instruments are there.”
He assured investors of growing transparency and accountability on the continent, urging action: “So if you’re not investing in Africa, this is your opportunity. You’re going to lose us.”
Adesina also stressed Africa’s shift toward industrialization, moving away from raw commodity exports.
“The export of raw commodities of any kind is a door to poverty. But the export of industrial value-added manufacturing … is the highway to prosperity,” he said.
David Moinina Sengeh, Chief Minister of Sierra Leone, spoke on the need for progressive leadership, arguing that bold, transformative policies are essential.
“We need radically new solutions. So, leadership, yes, but I believe it is progressive, social, democratic radicals that will dominate in Africa, and they will be Africans,” he said.
Africa is a land of opportunity, and as Elumelu put it, “The time is now.” Investors who recognize the continent’s potential and take strategic action stand to benefit immensely.