Africa must retain more of its capital and channel it into domestic industry if the continent is to build the scale of manufacturing and economic capacity achieved by Asia, the continent’s richest man Aliko Dangote has said.
The President and CEO of Dangote Group made the call at Unstoppable Africa 2026 in New York, where more than 3,000 African and global business leaders and Heads of State gathered to discuss investment and commercial opportunities across the continent.
Dangote said Africa could not develop a strong industrial base while its savings continued to flow into foreign banks and markets, arguing that domestic capital should play a larger role in financing the continent’s industrial future.
“We must believe in our continent,” Dangote said, urging African businesses to remain committed to building large-scale enterprises despite the challenges of operating on the continent.
“Once you start, it gets easier. But the more you don’t do anything, it becomes difficult.”
He also pointed to the African Continental Free Trade Area as critical to creating the market scale required to support major industrial investments across national borders.
AfCFTA, Finance Key to Investment
Zeine Zeidane, Director of the African Department at the International Monetary Fund, highlighted structural reforms, stronger domestic financial markets and the expansion of African markets through AfCFTA as important to attracting private investment.
The discussions underscored the need for deeper domestic capital markets and broader regional markets to support investment in productive sectors.
Africa’s digital economy also featured prominently, with Flutterwave Chief Executive Officer Olugbenga Agboola highlighting digital payments, artificial intelligence and other technologies as tools for businesses to reach new customers and expand across markets.
Technology is also being applied to financial and social inclusion. Signverse founder and CEO Elly Savatia said the company has developed the largest publicly documented dataset for an African sign language to date, supported by $2 million in Google funding, as it works toward a framework covering multiple local sign languages.
African Brands Seek Global Markets
The continent’s creative industries were another focus, with Afreximbank’s CANEX programme linking African fashion brands with international buyers through platforms including Tranoï in Paris and Japan and Coterie in New York.
Khanyi Mashimbiye, Manager, Creatives at Afreximbank, said the programme has secured more than 120 offtake agreements since 2022. Zimbabwean brand Vanu Vanwerk has expanded its distribution to more than 50 stores globally, according to the organisation.
The forum also highlighted partnerships aimed at expanding opportunities for young Africans. Namibian President Netumbo Nandi-Ndaitwah signed an agreement between the Netumbo Nandi-Ndaitwah Foundation and the Queens of the Continent Foundation, founded by WNBA All-Star and ESPN host Chiney Ogwumike, to explore initiatives supporting young people, particularly girls and young women.
AI Seen as Next Growth Frontier
UN Deputy Secretary-General Amina J. Mohammed said artificial intelligence could create new avenues for African economic growth if the continent secures the infrastructure and investment required to deploy the technology at scale.
“We are entering a new age of technology and AI that will fundamentally shape the future, and Africa has a tremendous opportunity to leapfrog,” Mohammed said.
“Africa has the talent and the ideas. What we need is the opportunity, infrastructure and investment to deploy them at scale.”
The discussions at Unstoppable Africa 2026 placed industrialisation, regional trade, domestic capital, technology and creative industries at the centre of efforts to convert Africa’s economic potential into investment, jobs and longer-term productive capacity.
