The African Export-Import Bank (Afreximbank) has officially launched the African Research and Innovation Hub (ARIH), a bold initiative designed to position Africa as a global leader in science, technology, and innovation. With an ambition to unlock up to US$70 billion annually in economic gains, the hub is expected to catalyse sustainable, innovation-driven growth across the continent.
ARIH will act as a bridge between academia, industry, and policymakers, providing a platform for homegrown research and technologies to be commercialised at scale. By promoting collaboration and increasing Africa’s research and development (R&D) expenditure currently among the lowest globally the initiative aims to double R&D spending to one percent of GDP, a move Afreximbank estimates could unlock massive economic value while fostering intra-African trade and technological sovereignty.
Speaking during the Intra-African Trade Fair (IATF 2025), Dr. Yemi Kale, Group Chief Economist and Managing Director for Research at Afreximbank, described ARIH as a turning point in Africa’s innovation journey. “The establishment of the African Research and Innovation Hub marks a pivotal moment for Africa’s scientific and technological ecosystem. It signals Afreximbank’s commitment to harnessing Africa’s homegrown talent and transforming intellectual capital into industrial competitiveness, trade expansion, and sustainable development,” he said.
Dr. Kale highlighted the urgency of boosting Africa’s innovation output, noting that the continent contributes less than three percent of global research despite being among the hardest hit by climate, health, and economic challenges. “Our vision is for ARIH to be a transformational platform that converts knowledge into economic power. A doubling of Africa’s R&D expenditure could unlock up to US$70 billion annually. ARIH will be a vital conduit connecting academia, industry, policymakers, and investors,” he added.
The launch of ARIH at IATF2025 was accompanied by an awards ceremony recognising 12 groundbreaking African and Caribbean research projects chosen from over 200 applicants. The winners, awarded certificates and cash prizes by Afreximbank Executive Vice President Mrs. Kanayo Awani, showcased innovations with the potential to solve pressing challenges in areas such as energy, healthcare, and sustainable agriculture.
Dr. Anthony Coleman, Afreximbank’s Director for Development Research, encouraged the winners to build on their success and leverage the platform to close Africa’s technology gaps. “Succession planning and family constitutions are not optional they are essential tools for protecting businesses, safeguarding jobs, and ensuring that wealth is preserved across generations,” he stressed.
The event also attracted high-level participation from African ministers, including Algeria’s Minister of Higher Education and Scientific Research Dr. Kamel Bidari and Lesotho’s Minister of Entrepreneurship and Trade, Mr. Tiroeaone Ntsima.
With more than 112,000 visitors from 132 countries and trade and investment deals worth US$48.3 billion signed, IATF2025 provided the perfect stage for ARIH’s unveiling. The hub is expected to become a cornerstone for Africa’s economic transformation by enabling African solutions to drive global competitiveness, reduce dependency on imported technologies, and power long-term prosperity.
