The African Leadership Magazine Issue 181

Magazine

...A Publication of The African Leadership Organization

Ken Giami

Founder & Executive Chairman

King Richard Igimoh

Group editor

King.richards@africanleadership.co.uk

Staff Writers

Blossom Ukoha

Blessing Ernest

Country Representatives

Muna Jallow

The Gambia & Senegal

Meresia Aloo

Kenya

Janet Abena Quainoo Ghana

Editorial Board

Peter Burdin

London UK - Chair

Nwandi Lawson

Atlanta USA - Member

Simon Kolawole

Lagos Nigeria - Member

Peter Ndoro

SABC Editor Johannesburg - Member

Frenny Jowi

Nairobi Kenya- Member

Brig. Gen. SK Usman Rtd

Abuja Nigeria - Member

David Morgan

Washington DC USA- Member

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Adeiza Okatenwu

Furo Giami

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FROM THE PUBLISHER’S Desk

Dr. Ken Giami

Founder, African Leadership Magazine UK

Farewell to my first boss, Sir Engr Charles Dorgu, FNSE, KSJ, JP!

As Sir Engr Charles Dorgu, FNSE, KSJ, JP, was laid to mother earth in Texas, USA on Saturday 26th October 2024, I was both overwhelmed yet inspired by his life, his legacy and faith. On September 30th, 2024, when we lost this giant of his generation—a man whose life embodied dedication, leadership, and selfless service. Sir Dorgu left behind a good name that will endure, etched not just in the buildings and roads he constructed in the course of his prolific engineering career, but in the hearts and minds of all who had the privilege to know him.

I was one of those privileged to meet and work closely with him, as he and his dear wife, Lady Gesiere Brisibe-Dorgu, became my first bosses as they gave me my first opportunity at the entrepreneurial journey that I have been on until today. Without any industry experience, they both invested their faith in me and gave me their expansive Port Harcourt hospitality property and his Port Harcourt division of his engineering business to manage, first as General Manager, and later, on a lease, in my mid-twenties, just fresh out of the university. Sir Charles was not just a boss; he was a mentor,

a guide, and a compass for me – as I drew many lessons from his many successes as well as the challenges he faced which he shared freely with me on many of our airport rides home and meeting sessions whenever he visited Port Harcourt from his then base in Abuja. His journey from the vibrant streets of then Eastern Nigeria to becoming a revered figure in our community is a testament to his unwavering dedication and tireless work ethic – a virtue I have held on to till this day.

Born on November 15, 1944, Sir Dorgu lived a life of service to both his profession and his country. As a Fellow of the Nigerian Society of Engineers (FNSE), his technical expertise was unquestionable. His tenure as Executive Secretary of the Federal Capital Development Authority (FCDA) guided transformative projects that helped shape Abuja into the thriving capital it is today. Under his leadership, key infrastructure developments were implemented with meticulous attention to excellence. From major road expansions to the creation of vital districts, Engr. Dorgu’s vision was always rooted in building a city that reflected the aspirations of a growing nation.

Despite his many accolades, titles, and responsibilities, he remained grounded, approachable, and kind. His mentorship of younger engineers is a legacy that will outlive him, as he consistently emphasized the importance of nurturing talent and uplifting those around him.

His contributions extended far beyond engineering. As a Knight of St. John (KSJ), Sir Dorgu’s faith informed his actions, seeing his role not just as an engineer or administrator, but as a steward of resources, driven by a deeper purpose. His title of Justice of the Peace (JP) symbolized his unwavering commitment to fairness and justice—principles that guided both his personal and professional life.

A man of humility and sophistication, Sir Charles Dorgu was fluent in multiple languages, reflecting the rich cultural tapestry of his upbringing. His love for knowledge and engaging conversations bridged generations, genders, and cultures. He was a strategic thinker and an attentive listener, qualities that made him an exceptional leader.

His passion for nation-building, politics, fashion, sports, and music was evident in every aspect of his life. He found joy in the rhythms of King Robert Ebizimor and other Izon musical legends, as well as jazz, blues, country, and gospel. As a devoted Catholic Knight, Sir Dorgu served God and community in his own quiet and silent way.

Today, as I reflect on his life, I do so with gratitude. I am thankful for a man who

dedicated his life to making the world a better place—one blueprint, one conversation, and one act of kindness at a time.

Rest in peace, my boss, mentor, and inspiration - Sir Charles Dorgu. Your legacy as guided by Faith and Shaped by Purpose, will live on in the many lives you’ve touched, especially mine, and your work will continue to shape the world for generations to come.

Here’s why US-Africa trade under AGOA has been successful for some countries but not others 38 China-Africa A Partnership Renewed

42 Top 15 Africa’s Billion-Dollar Tech Giants

50 A Resounding Success: The 10th International Forum on African-Caribbean Leadership (IFAL) 2024 Concludes in New York 57

UK’s New Government: Opportunities & Impact on Africa’s Development Partnerships

How tapping into the power of the global Black economy

The Economic State of Black America: What Is and What Could Be

HERE’S WHY USAFRICA TRADE UNDER AGOA HAS BEEN SUCCESSFUL FOR SOME COUNTRIES BUT NOT OTHERS

By Landry Signé, Senior Fellow - Global Economy and Development, Africa Growth Initiative

Has the African Growth and Opportunity Act (AGOA) achieved its goal of improving trade and investment between the U.S. and Africa? Created in 2000 and renewed in 2015, AGOA is a U.S. government trade program that gives countries in subSaharan Africa preferential access to U.S. markets, allowing them to export products to the United States tariff-free. AGOA has certainly helped boost African exports to the United States, but the trade data raise questions about why some countries are better able to capitalize on the preferential trade rules. I found that policy implementation theory—specifically, the ability to bridge the gap between policy intentions and desired outcomes—helps explain this variation and points a way to bridge the gap between high and low performers going forward.

As the White House and Congress consider the future of AGOA post-2025, these insights can aid policymakers and business leaders alike as they explore strategies to further expand U.S.Africa trade and investment under the program.

African countries vary in their utilization of AGOA

All eligible sub-Saharan African countries (35 countries as of May 2023) stand to benefit from the U.S. trade program, but AGOA utilization rates and results vary widely. Kenya and Lesotho have had some of the highest AGOA utilization rates: 88 percent of Kenyan exports and 99 percent of Lesotho’s exports to the U.S. qualified for zero-tariff treatment. Apparel products dominated both countries’ exports to the United States.

But almost half of all beneficiary countries had a utilization rate of 2 percent or lower during the same time period—this means 98 percent of U.S. imports from those countries were subject to U.S. tariffs. These discrepancies in utilization rates have hindered AGOA’s potential “to tip the scales when it comes to economic development, growth of commercial opportunities, and job creation,” as Witney Schneidman, Kate McNulty, and Natalie Dicharry previously noted.

Why are some countries not benefiting from AGOA?

A number of factors could explain variations in AGOA utilization, including differences in business environments, competing interests, lack of credit, lack of internet access, insufficient capacity, lack of government investment, and production costs and bottlenecks. Given the limited empirical evidence on the direct effects of these factors on AGOA implementation, my research looks at AGOA utilization another way, by using policy implementation theory.

Political scientist Richard Matland explains the two primary factors that determine success or failure in policy implementation: policy ambiguity and policy conflict. The degree of policy conflict is explained by the level of convergence or divergence between

As the White House and Congress consider the future of AGOA post-2025, these insights can aid policymakers and business leaders alike as they explore strategies to further expand U.S.-Africa trade and investment under the program

rational and often self-interested actors involved in the policymaking process. Since interests regularly diverge, this usually leads to conflict. Policy ambiguity arises when there is a divergence within the epistemic community or key policymakers and stakeholders about approaches to solve specific policy challenges. Matland argues that a combination of high or low ambiguity and conflict create a unique implementation challenge for any given policy.

In the context of AGOA, a country would have high policy ambiguity if it doesn’t produce goods to export that fall under AGOA preferences, or if the overall goals and benefits of AGOA utilization are unclear. Policy conflict within a country may be high if various players—the private sector, the government, foreign investors, workers, etc.— disagree over the terms, vision, or strategy for using AGOA, or if the U.S. takes a country or its trading partners off the beneficiary list.

As of 2022, 18 of the 39 beneficiary countries had developed a strategy to utilize the AGOA program. And 14 of the 16 countries that had published strategies in 2021 increased their non-crude oil exports. Many countries that adopted a national AGOA strategy—such as Mali, Mozambique, Togo, and Zambia— experienced particular success and saw their exports to the U.S. rise by over 90 percent during this period.

While noteworthy, there may be other factors at work. The positive association between having developed a national AGOA strategy and seeing positive outcomes is complex and likely nonlinear. To be sure, a country that already has favorable resources, political will, private sector support,

or other enabling factors may be more likely to benefit from AGOA and be more likely to develop a utilization strategy.

At the same time, a national strategy for utilizing AGOA can serve as a way to identify and strengthen those factors. Seen in terms of Matland’s theory, a utilization strategy reduces policy conflict by making sure everyone is on the same page. And having a strategy in place reduces policy ambiguity by laying out a clear path forward to increase exports.

For example, prior to U.S. sanctions, Ethiopia boosted its AGOAeligible exports after developing a utilization strategy that identified sector-specific constraints and formulated strategies to address them. This strategy led to the creation of a one-stop technical and information hub to assist the five priority product areas the Ethiopian government identified in the country’s AGOA utilization strategy—textiles and garments, leather and leather products, horticulture, handcrafts, and agroprocessing. One year after the hub opened, Ethiopia increased its exports to the United States by over 50 percent—much more than the total increase of exports from AGOA-eligible countries to the United States during the same time period, from 2015 to 2016 (19 percent on average).

In 2017, Botswana developed an AGOA utilization strategy that identified specific barriers to exports, and established evaluation criteria and an institutional structure to track key metrics of specific priorities. In 2021, Botswana held further stakeholder engagement meetings with civil servants in various ministries, private sector associations, individual firms, women’s groups

and nongovernmental and semigovernmental organizations to gather input on new areas of concern in the economy, resulting in a revised strategy. Botswana’s strategy of continuously adjusting to changing circumstances, may offer an important example for other countries in Africa on how to reduce policy conflict and ambiguity to successfully bridge the gap between policy formulation and implementation.

What Biden’s Africa strategy means for AGOA utilization

Ultimately, the AGOA program has shown benefits for those African countries that use the program more, but as the variance in utilization rates demonstrates, these benefits have not been shared equally among countries. President Biden’s Africa strategy means that AGOA utilization rates will be coming under increased scrutiny as policymakers look to see whether AGOA has delivered on its promise and what is the way forward. The data and the policy implementation theory discussed here suggest that the best way to address these discrepancies and accelerate enabling factors will be by mobilizing a clear, comprehensive, and continuously evolving utilization strategy. It goes without saying that such efforts toward successful implementation should deliver long-term socioeconomic outcomes and better advance mutual U.S. and African interests with the extension of AGOA beyond 2025.

Culled from Bookings

WHERE DOES THE PENDULUM

By King Richard

As Ghana prepares for the 2024 general election, the country stands at a pivotal moment in its democratic evolution. The race between the New Patriotic Party (NPP) and the National Democratic Congress (NDC) intensifies as both parties aim to win over voters amidst a challenging socio-economic backdrop. This election will not only shape the political future of the nation but will also have a significant impact on its economic direction, following eight turbulent years under NPP governance.

Beyond the main contenders, Dr. Mahamudu Bawumia of the NPP and John Dramani Mahama of the NDC, a total of 13 candidates have been cleared by the Electoral Commission to compete. Notable names include Alan John Kwadwo Kyerematen, who recently left the NPP to run as an independent candidate; Christian Kwabena Andrews from the Ghana Union Movement (GUM); and Hassan Ayariga of the All People’s Congress (APC).

Despite the broader field of candidates, attention remains focused on the competition between Mahama and Bawumia, who represent the two dominant parties. However, Osei Nyarko, a political observer from African Elections Watch, has noted that independent candidates could influence the outcome by drawing votes away from the leading contenders, potentially leading to unexpected results.

A Review of the Akufo-Addo Legacy

President Nana Akufo-Addo’s time in office has been marked by both ambitious promises and daunting obstacles. His administration aimed to revive the economy and lower unemployment through initiatives like “One District, One Factory.” However, the results have been mixed. Ghana’s public debt soared to over 95% of its GDP by 2023, forcing the government to seek relief from international lenders. Additionally, the depreciation of the cedi and rising inflation compounded the economic challenges, leaving many Ghanaians disillusioned.

As Ghana prepares for the 2024 general election, the country stands at a pivotal moment in its democratic evolution. The race between the New Patriotic Party (NPP) and the National Democratic Congress (NDC) intensifies as both parties aim to win over voters amidst a challenging socioeconomic backdrop

The economy is the central issue in this election. Ghana’s inflation rate, which peaked at 54.1% in 2023, has become a major point of concern. Both candidates have laid out their plans for economic recovery

Akufo-Addo’s government also faced criticism over issues such as corruption, poor management of the energy sector, and the handling of illegal mining, known as “galamsey.” While his administration claims to have laid the groundwork for future sustainability, critics argue that the benefits have been insufficient, with unemployment and the cost of living still high.

The Contenders: Mahama vs. Bawumia

The 2024 election brings two familiar figures to the forefront. John Dramani Mahama, the former president and current NDC flagbearer, seeks a return to power, while Dr. Mahamudu Bawumia, the NPP’s candidate and current Vice President, aims to continue his party’s governance.

Mahama’s campaign focuses on reversing the economic setbacks under the NPP. He criticises the current administration for regressing the nation, claiming, “In the last eight years, this administration has sent our nation 10 years back.” His platform promises economic stability through policies like the Women’s Bank and the National Apprenticeship Programme. He emphasises that the NDC has the

experience to rebuild state enterprises and foster more equitable growth. Conversely, Bawumia is positioning himself as a moderniser, emphasising his role in advancing digital transformation in Ghana through innovations such as mobile money interoperability and the digital addressing system. He argues that his administration will continue the progress initiated under Akufo-Addo, asserting, “Transforming the economy takes time, but we have made strides that must not be reversed.”

Economic Factors Driving the Campaign

The economy is the central issue in this election. Ghana’s inflation rate, which peaked at 54.1% in 2023, has become a major point of concern. Both candidates have laid out their plans for economic recovery. Mahama has criticised the NPP’s debt restructuring, which included a “haircut” on bonds that left many investors and pensioners frustrated. He promises relief by focusing on job creation and reversing what he sees as the NPP’s mismanagement.

Bawumia, on the other hand, defends the NPP’s economic record, attributing much of the country’s difficulties to global factors such as the COVID-19

pandemic and the Russia-Ukraine war. His campaign emphasises continued investment in technology and digitisation to improve productivity and service delivery.

Unemployment, particularly among the youth, remains a pressing issue. With 38% of Ghana’s population under 15, the demand for sustainable job creation is enormous. Mahama has accused the NPP of neglecting the youth, claiming that unemployment has worsened under their leadership. In contrast, Bawumia points to youth entrepreneurship initiatives like the National Entrepreneurship and Innovation Plan (NEIP) as evidence of the NPP’s commitment to addressing the issue.

Both parties have faced accusations of corruption, and this remains a key issue in the election. Mahama has pledged to lead a transparent government, stressing that accountability is essential to restoring public trust. Bawumia highlights the establishment of the Office of the Special Prosecutor as a sign of the NPP’s commitment to fighting corruption. However, scepticism runs deep among the electorate, who view corruption as a systemic issue affecting all administrations.

International Relations and Foreign Policy

Under the NPP, Ghana’s foreign policy has focused on strengthening ties with international partners, particularly in trade and security. Bawumia advocates for continued regional integration through the African Continental Free Trade Area (AfCFTA), headquartered in Accra, as a means to enhance Ghana’s economic standing. Mahama, while supportive of AfCFTA, has criticised the NPP for neglecting key diplomatic relationships and promises a more assertive foreign policy that prioritises regional peace and development.

The 2024 Ghana election is a defining moment for the nation. With a struggling economy, high unemployment, and concerns about corruption, the stakes are high for both Mahama and Bawumia. The decision Ghanaians face is whether to return to Mahama’s experienced leadership or to continue with the NPP’s vision of economic modernisation under Bawumia. As the election approaches, the political pendulum could swing in either direction, but one thing is clear—this election will have profound consequences for Ghana’s future.

The

2024 Ghana election is a defining moment for the nation. With a struggling economy, high unemployment, and concerns about corruption, the stakes are high for both Mahama and Bawumia

ROAD TO NAMIBIA’S 2024 GENERAL ELECTIONS: A LEAP TOWARDS DEMOCRATIC EXCELLENCE

By Joshua Muhammed

Namibia is approaching a pivotal moment in November 2024 as it prepares for general elections. This marks a significant chapter for the nation, which will elect a new president following the passing of President Hage Geingob. The election is set to feature fierce competition, with Vice President Netumbo

Nandi-Ndaitwah, SWAPO’s first female presidential candidate, at the forefront. Her main rival, Panduleni Itula of the Independent Patriots for Change (IPC), is leading a strong opposition effort. Various political groups are also fielding candidates, making this one of Namibia’s most competitive elections to date.

Preparations by the Electoral Commission of Namibia (ECN)

The Electoral Commission of Namibia (ECN) is working diligently to ensure smooth and transparent elections. Over 4,000 registration points have been established across Namibia’s 14 regions, emphasising the nation’s commitment to inclusivity and voter access. These efforts are complemented by an extensive voter education campaign aimed at reducing apathy and increasing turnout, particularly in areas where previous elections have seen lower engagement.

To address these challenges, the ECN is

leveraging local radio stations, community leaders, and digital platforms to spread awareness about the election process. Learning from Kenya’s 2022 election, Namibia has integrated technology such as real-time results transmission and biometric registration, which is expected to increase accuracy and voter confidence. The ECN has also taken note of the lessons from Nigeria’s 2023 elections, which were marred by delays and electronic transmission failures, ensuring their systems are rigorously tested and functional before the elections.

Despite these efforts, challenges remain, including concerns over the integrity of the voter register and logistical complexities in reaching remote areas. However, the ECN has expressed confidence that these issues will be resolved before November, aiming to deliver a credible election.

Political Parties: A Competitive Field

Namibia’s 2024 general elections promise intense competition. SWAPO, the ruling party since independence in 1990, is facing increased pressure from opposition parties, particularly from the Independent Patriots for Change (IPC), led by Panduleni Itula. The IPC has garnered significant support, especially

among younger voters disillusioned with the status quo, positioning itself as a party focused on change and accountability.

Vice President Netumbo NandiNdaitwah, SWAPO’s candidate, could make history as the nation’s first female president, reflecting a shift in Namibia’s political landscape. Yet, her path to victory will be challenged by other prominent opposition parties, such as the Popular Democratic Movement (PDM) and the Landless People’s Movement (LPM). These parties are eager to address Namibia’s pressing economic and social issues, adding to the complexity of this election.

Lessons from Kenya, Nigeria, and Other Recent African Elections

Recent elections in Kenya (2022) and Nigeria (2023) provide valuable insights for Namibia. Kenya’s use of digital tallying systems improved transparency and reduced fraud, serving as a model for Namibia. However, the logistical and technological issues experienced

in Nigeria—where delays in electronic transmission and widespread misinformation undermined public trust—highlight the need for robust systems and public communication to avoid similar pitfalls.

Namibia can strengthen its electoral process by embracing digital tools like electronic tallying and voter identification systems. This, combined with a clear public outreach campaign, can help build trust in the election results and counter misinformation.

The Impact of Social Media and Technology on African Elections

Social media has revolutionised elections across Africa, and Namibia is no exception. Platforms like Facebook, Twitter, and WhatsApp are central to political discourse, voter engagement, and information dissemination. While these tools can help mobilise voters, they also pose risks in the form of misinformation and divisive rhetoric. Namibia, like other African nations, must tread carefully by promoting media

Namibia can strengthen its electoral process by embracing digital tools like electronic tallying and voter identification systems. This, combined with a clear public outreach campaign, can help build trust in the election results and counter misinformation

literacy programs and collaborating with civil society and social media companies to curb the spread of false information.

Additionally, Namibia can benefit from adopting citizen-led election monitoring apps, similar to those used in Ghana and Kenya, which allow voters to report irregularities in real time, increasing transparency and accountability.

Namibia’s Political System and Governance

Namibia’s semi-presidential system distributes executive power between the president and the prime minister. The president serves as both the head of state and government, while the prime minister coordinates government activities. This system ensures checks and balances between the executive and legislative branches, promoting democratic governance.

Namibia’s Parliament is bicameral, consisting of the National Assembly and the National Council. The National Assembly, with 96 elected members and 8 presidential appointees, serves as the primary legislative body, while the National Council focusses on regional representation.

Curtailing External Influence:

A Call from The African Leadership Magazine

As Namibia’s 2024 elections draw near, there is growing concern over potential external influence in the electoral process. The African Leadership Magazine has emphasised the need for African nations to guard against foreign interference, which has historically undermined democratic systems worldwide. Recent examples, such as Nigeria’s 2023 elections and

the 2016 U.S. presidential race, underscore how cyberattacks, disinformation, and foreign-funded campaigns can erode public trust and skew election outcomes.

Namibia has taken proactive measures, including tightening regulations on foreign funding and enhancing cybersecurity to safeguard the integrity of its elections. However, it is crucial to remain vigilant, as the digital era has increased the risk of foreign manipulation through cyber warfare and social media.

The African Leadership Magazine advocates for stronger campaign finance laws, improved cybersecurity, and closer collaboration with the African Union (AU) to mitigate these threats. The AU can play a key role by deploying observers and cybersecurity experts to monitor the election and ensure its credibility.

Perspectives from NGOs and Civil Society

Namibian NGOs and civil society organisations, such as the Namibia Institute for Democracy and the Legal Assistance Centre, have been vocal in advocating for greater transparency, accountability, and youth participation in the 2024 elections. They stress the importance of political parties addressing economic challenges like unemployment and inequality in their campaigns.

International observers continue to praise Namibia’s democratic processes but caution against complacency. With rising political competition and public demand for change, this election is seen as a turning point for the nation.

The Future of Namibia’s Democracy

The 2024 general elections represent a crucial moment for Namibia. With a more competitive multiparty landscape, greater use of technology, and a politically engaged electorate, this election could set new standards for democratic excellence in Southern Africa. SWAPO’s influence, though significant, is being tested by an electorate that increasingly demands accountability, transparency, and development-focused leadership.

Namibia’s stability and strong democratic foundations position it well for the future. However, maintaining public trust and managing potential unrest during this highly competitive election will be vital. If successful, the 2024 elections could reinforce Namibia’s reputation as one of Africa’s leading democracies, shaping its political landscape for years to come.

RESHAPING AFRICA’S POLITICAL LANDSCAPE: THE SENEGAL EXAMPLE

By Solomon Obi

Africa is home to the youngest population in the world, with over 70% of sub-Saharan Africa’s population under the age of 30, according to the United Nations. This vast youthful demographic represents not only a challenge but an incredible opportunity for the continent. Today’s youth are not just the leaders of tomorrow—they are the change-makers of today, capable of reshaping Africa’s political landscape.

In 2024, Africa’s youth played pivotal roles in shaping election outcomes, particularly in countries like Tunisia, Mozambique, and Senegal. These elections highlighted the capacity of young people to influence democratic processes, mobilise for reform, and challenge entrenched political elites. In Senegal, the political involvement of young people led to significant shifts in the nation’s leadership, with the election of Bassirou Diomaye Faye, Africa’s youngest democratically elected leader, at just 44 years old. His rise to the presidency was fuelled by unprecedented youth engagement, signalling a broader trend across the continent where young Africans are determined to take control of their political destinies.

This article explores how the youth of Senegal—and indeed Africa—became the driving force behind political transformation in 2024. It examines the specific ways they mobilised, influenced policy, and reshaped the political trajectories of their nations, with a focus on the Senegalese example. Additionally, it discusses how Africa’s youth can continue to build on these efforts to become a decisive factor in political change across the continent. The Power of Youth Demographics

Africa’s youth bulge presents both challenges and opportunities. With more than 400 million Africans aged between 15 and 35, the continent’s young people hold immense political potential. Yet they also face significant barriers, including high unemployment, limited access to education, and economic instability. According to the African Development Bank (AfDB), youth unemployment in sub-Saharan Africa remains a persistent issue, with around 12% of young people jobless and many more working in the informal sector.

Despite these challenges, young Africans have demonstrated remarkable resilience and creativity, turning to political engagement as a means to address systemic issues. In 2024, youth activism and engagement proved critical in shaping political outcomes in countries like Tunisia, Mozambique, and Senegal. Young voters in these nations challenged long-standing political elites, demanded accountability, and pushed for reforms. Their influence underscored the importance of youth involvement in Africa’s democratic processes.

The Senegal Example: Youth as Catalysts for Change

In Senegal, young people were at the heart of the movement that led to Bassirou Diomaye Faye’s election in 2024. Faye’s

Africa is home to the youngest population in the world, with over 70% of subSaharan Africa’s population under the age of 30, according to the United Nations. This vast youthful demographic represents not only a challenge but an incredible opportunity for the continent. Today’s youth are not just the leaders of tomorrow—they are the changemakers of today, capable of reshaping Africa’s political landscape

Youth Mobilisation and the Digital Revolution

One of the key drivers behind Senegal’s youth-led political transformation was the effective use of digital technology. Social media platforms such as Twitter, Facebook, and WhatsApp became powerful tools for political engagement and mobilization. Senegalese youth used these platforms to organise rallies, disseminate information, and counter misinformation—a significant issue during the election period.

Digital platforms were essential in enabling young people to challenge traditional power structures. For example, social media allowed youth in Senegal to fact-check politicians, organise peaceful protests, and mobilise voters. This digital engagement translated into a high voter turnout among the youth

victory represented not just a win for him but for the youth who mobilised, campaigned, and ensured that their voices were heard in the political arena. They used digital platforms, grassroots organising, and advocacy to influence the electoral process, breaking through traditional political barriers that had long excluded them.

Faye’s election was symbolic of a broader generational shift in African politics. His campaign focused on transparency, accountability, and addressing youth unemployment and corruption—issues that resonate with young Senegalese voters. His ability to connect with young people on these concerns made him a compelling alternative to the established political elite.

Faye’s rise to power also highlighted the importance of youth mobilisation beyond mere voting. Young Senegalese were active in election monitoring, advocacy, and grassroots organising, ensuring that the electoral process was fair and transparent. This engagement not only shaped the outcome of the election but also reaffirmed the power of collective action.

This digital activism reflects a broader trend across Africa, where young people are increasingly turning to the internet to participate in political discourse. In 2024, over 240 million Africans were active on social media, with a significant portion of them being young people. In Senegal, internet penetration among the youth population reached 88%, according to Statista, allowing for the rapid dissemination of political messages and a more informed electorate.

Digital platforms were essential in enabling young people to challenge traditional power structures. For example, social media allowed youth in Senegal to fact-check politicians, organise peaceful protests, and mobilise voters. This digital engagement translated into a high voter turnout among the youth. Senegal’s electoral commission reported that voter participation among individuals aged 18 to 35 reached 65% in the 2024 election, a significant increase from previous years.

Senegal’s experience is not unique. In Tunisia and Mozambique, young people also used social media and digital platforms to organise and push for political reform. In Tunisia, youthled campaigns focused on tackling corruption and improving public services, while in Mozambique, young voters rallied behind calls for greater transparency in governance. The

increased digital engagement across these nations reflects the growing influence of Africa’s youth in shaping political outcomes through technology.

Bassirou Diomaye Faye: The Face of Youth Empowerment

Bassirou Diomaye Faye’s journey to the presidency is a direct reflection of the power of youth mobilization. His political career began under the mentorship of Ousmane Sonko, the charismatic opposition leader and founder of the Patriots of Senegal for Work, Ethics, and Fraternity (PASTEF) party. Sonko’s leadership had already inspired a generation of young Senegalese who were disillusioned with the political elite. When Sonko was barred from running in the 2024 election, Faye stepped in as the party’s candidate. At 44, he was seen as a fresh face in Senegalese politics, someone who could carry forward Sonko’s vision of reform while appealing to the youth who had been the backbone of PASTEF’s support. His campaign focused on issues critical to young people, including job creation, education reform, and tackling corruption.

Faye’s victory, with 54.28% of the vote, marked a turning point in Senegalese politics. It was a victory not just for Faye

but for the youth who had mobilised to support him. His election demonstrated the power of young voters to bring about meaningful political change.

Youth Participation in Tunisia and Mozambique: Beyond Borders

In Tunisia, the 2024 elections also saw a significant youth presence. Following years of economic challenges and political unrest, Tunisia’s youth organised around issues of corruption, unemployment, and government transparency. Similar to Senegal, young voters in Tunisia turned to digital platforms to advocate for change, participate in debates, and monitor election processes. The result was a political shift, with several youth-led parties gaining seats in the Tunisian parliament.

Mozambique presented a similar picture. Young voters in the southern African nation were instrumental in pushing for electoral reforms and transparency, particularly in light of the country’s ongoing challenges with corruption and economic mismanagement. Youth-led civil society groups, using both digital platforms and grassroots activism, advocated for policies that addressed

Faye’s victory, with 54.28% of the vote, marked a turning point in Senegalese politics. It was a victory not just for Faye but for the youth who had mobilised to support him. His election demonstrated the power of young voters to bring about meaningful political change

job creation, education, and health care, pressing the government to be more accountable.

These examples, along with the Senegalese experience, illustrate a growing trend across Africa: the continent’s youth are not waiting for the future—they are seizing it.

Youth and Political Participation

Despite the successes of youth mobilisation in 2024, young people across Africa continue to face significant barriers to political participation. One of the most significant challenges is the age gap between political leaders and the majority of the population. In many African countries, political power is still concentrated among ageing elites, some of whom have been in office for decades. This creates a disconnect between the government and the youth, who feel that their voices are not being heard.

Senegal’s 2024 elections showed that this barrier can be overcome when

young people organise and mobilise effectively. However, in many other African nations, systemic obstacles such as restrictive election laws, limited financial resources, and exclusion from political networks persist. In Mozambique and Tunisia, civil society organisations played an important role in addressing these challenges, providing young people with resources, training, and platforms for political engagement.

Learning from Senegal: A Blueprint for Youth Engagement

The 2024 elections in Senegal, Tunisia, and Mozambique offer important lessons for youth engagement across Africa. These elections showed that young people can influence political outcomes when they are organized, informed, and empowered. They also highlighted the importance of digital engagement, grassroots organising, and policy advocacy in driving political change.

1. Digital Engagement: As seen in Senegal, Tunisia, and Mozambique,

The 2024 elections in Senegal, Tunisia, and Mozambique offer important lessons for youth engagement across Africa. These elections showed that young people can influence political outcomes when they are organized, informed, and empowered. They also highlighted the

importance of digital engagement, grassroots organising, and policy advocacy in driving political change

Young people must push for policies that address their needs, such as job creation, education, and political participation. In Senegal, Faye’s campaign focused on youth employment and corruption, resonating with young voters. African youth can continue to advocate for policies that improve their lives and hold governments accountable

social media and digital platforms are critical tools for political engagement. Youth across Africa can use these platforms to mobilise voters, organise campaigns, and hold governments accountable.

2. Grassroots organising: In all three countries, youth movements played a critical role in organising voters at the grassroots level. African youth can continue to build on these efforts by forming local networks, providing political education, and advocating for reform.

3. Policy Advocacy: Young people must push for policies that address their needs, such as job creation, education, and political participation. In Senegal, Faye’s campaign focused on youth employment and corruption, resonating with young voters. African youth can continue to advocate for policies that improve their lives and hold governments accountable.

4. Overcoming Systemic Barriers:

In many African countries, young people face systemic barriers to political participation, such as restrictive election laws and financial constraints. Civil society organisations and youth movements can play a key role in helping young people overcome these obstacles by providing resources and platforms for engagement.

The Future of Youth-Led Political Change in Africa

The 2024 elections in Senegal, Tunisia, and Mozambique marked a turning point in Africa’s political landscape. Young people across the continent have demonstrated that they are not only capable of influencing political outcomes but are also essential to the future of African democracy. By leveraging their collective power, utilising digital platforms, and engaging in grassroots organising, African youth have shown that they can reshape their countries’ political trajectories.

CARIBBEAN trade

Speech Delivered by Dr. Ken Giami, chairman of the African Leadership Organisation at IFAL 2024 in New York City

At the 2024 International Forum on African-Caribbean Leadership (IFAL), held on the sidelines of the 79th United Nations General Assembly in New York City, global leaders, diplomats, and industry professionals gathered to discuss pressing challenges and transformative opportunities for Africa and the Caribbean. Among the key speakers was the visionary CEO and Chairman of the African Leadership Organisation, whose leadership in fostering economic development and cooperation across the Global South has garnered international recognition.

In his address, he outlined a bold vision for Africa and the Caribbean, underscoring the need for multi-stakeholder partnerships to drive sustainability and resilience in the region. With a focus on collaboration, innovation, and investment, his speech illuminated the path to a future where Africa and the Caribbean can lead the way in global progress and prosperity. Below is the full text of his inspirational speech:

I would like to begin by acknowledging the Almighty, whose grace has allowed us to gather in this iconic city to shine the spotlight on African-Caribbean leadership and cooperation. I extend my deepest gratitude to our distinguished speakers, guests, and honourees for joining us for this important forum.

This gathering presents a unique opportunity to forge stronger ties, share insights, and collaborate on the pressing challenges and emerging opportunities that face our regions—and indeed the world. It is an immense privilege for me, as co-host of today’s forum and founder of African Leadership Magazine, to be here alongside my dear friend Van McCormick of the globally acclaimed International Economic Alliance. I am thrilled to see such a diverse assembly of business and political leaders, visionaries, and changemakers. Your presence here underscores our collective commitment to fostering sustainable development, economic growth, and social progress across Africa, the Caribbean, and beyond.

The theme of today’s forum, “Multi-Stakeholder Partnerships for Driving Sustainability and Resilience in the Global South,” could not be more relevant. Partnerships between governments, businesses, NGOs, and communities offer a unique advantage by bringing together diverse perspectives, expertise, and resources. These collaborations enhance innovation and problem-solving, leading to more effective and sustainable solutions for all. Our shared aspirations are amplified through such partnerships, which ensure coordinated efforts, efficient resource use, and maximum impact.

These partnerships are not only about addressing current challenges but about building local capacities and empowering communities with the skills and knowledge needed for their own

At the 2024 International Forum on AfricanCaribbean Leadership (IFAL), held on the sidelines of the 79th United Nations General Assembly in New York City, global leaders, diplomats, and industry professionals gathered to discuss pressing challenges and transformative opportunities for Africa and the Caribbean

Today, we stand at a pivotal moment where collaboration and innovation can unlock unprecedented potential. By working together, we can harness our collective strengths to address global challenges such as climate change, economic inequality, and access to education and healthcare

development. This leads to long-term resilience and self-sufficiency. As the well-known African proverb goes, “If you want to go fast, go alone. But if you want to go far, go together.” The journey ahead is still far for the Global South, especially for the African-Caribbean communities, as we continue to face widening gaps in economic, energy, and infrastructure development compared to First World nations. That is why we must move forward together.

Today, we stand at a pivotal moment where collaboration and innovation can unlock unprecedented potential. By working together, we can harness our collective strengths to address global challenges such as climate change, economic inequality, and access to education and healthcare. We are united by a shared vision—an Africa that is not just rising but soaring; an Africa that is not merely a participant on the global stage but a leader, a trailblazer, and a beacon of hope and progress.

In making a case for increased global Foreign Direct Investments (FDI) into Africa and the Caribbean nations, a new narrative is unfolding—a story of untapped potential and vibrant opportunities in Africa and the Caribbean, which represent the next frontier for global trade and investment.

To quote Africa’s richest man, Aliko Dangote, “Opportunities for trade and investments are never lost; you either take them or your competitors will.” Today, I invite our American friends and the global investing community to seize these opportunities.

Consider the story of a young entrepreneur in Port Harcourt, Nigeria, whose tech startup is revolutionising local agriculture with cutting-edge mobile applications. Her vision is to empower farmers with real-time data, enhancing productivity and sustainability. Yet, like many pioneers across Africa, she faces challenges in scaling her business due to limited access to capital and global markets.

This story represents the broader tapestry of innovation and ambition woven throughout Africa and the Caribbean. These regions are home to a young, dynamic workforce eager to drive change and embrace new technologies. With abundant natural resources, strategic geographic locations, and a growing consumer market, the possibilities are limitless.

Global investors have a unique opportunity to be part of this transformative journey. By channelling FDI into these regions, investors can unlock substantial returns while contributing to sustainable development. Investments in infrastructure, technology, and education can catalyse economic growth, reduce poverty, and expand global trade networks.

Moreover, investing in Africa and the Caribbean aligns with the global commitment to equitable growth and shared prosperity. It is not just an economic opportunity; it is a chance to support resilient economies that can withstand global challenges and contribute to a more balanced world economy.

Throughout this forum, I encourage you to engage in open dialogue, exchange ideas, and build partnerships that will drive transformative change. Let us seize this opportunity to inspire one another and craft a future that is inclusive, prosperous, and sustainable for all. I am particularly excited by the lineup of seasoned leaders and industry practitioners who will share their wealth of experience throughout today’s event.

We will also take a moment to celebrate some of our regions’ finest business leaders and policymakers, who have contributed immensely to the growth and development of their communities. In keeping with our mission to promote African excellence, African Leadership Magazine has spent the past 17 years identifying and celebrating exceptional corporate practices and outstanding contributions to society. This is our way of inspiring the next generation of leaders.

The African Leadership Awards reflect our commitment to highlighting the positive stories of Africa, which are often overlooked on global media platforms. As

Singaporean leader Lee Kuan Yew once said, “For progress to happen in the Third World, it takes toil, sweat, and sometimes the blood of leaders making selfless sacrifices.” This is why we celebrate the awardees today. Each of them embodies the essence of leadership—courage, innovation, and relentless pursuit of excellence. Their achievements inspire us all and serve as a powerful reminder that Africa’s future is bright and boundless.

At African Leadership Magazine, our mission has always been to amplify the voices of those shaping the continent’s narrative. We believe in the power of storytelling to inspire change, foster collaboration, and ignite the spark of possibility. Through our platform, we highlight stories of triumph, impact, and transformation that are driving Africa forward. We pursue this agenda through an ecosystem of quality Afro-positive content, Africa trade facilitation and market entry solutions, Afrocentric communities, and business networking platforms such as the African Leadership Council.

In closing, I extend my deepest gratitude to each of you for your dedication and commitment to this cause. Today, the call is clear: embrace the promise of Africa and the Caribbean. Invest in their potential, and together, we can build a more inclusive and prosperous global community. This is not just an investment in regions; it is an investment in a brighter future for all.

As we look ahead, let us remember that our journey is far from over. The challenges we face are real, but so are the opportunities. It is incumbent upon us, as leaders, to continue to innovate, collaborate, and lead with integrity and purpose. Let us harness the power of our collective wisdom, diverse perspectives, and shared commitment to create a future where every African can thrive. Let us lead with vision, act with purpose, and inspire with our actions. The future of Africa is in our hands, and it is a future filled with promise, potential, and unparalleled possibilities.

At African Leadership Magazine, our mission has always been to amplify the voices of those shaping the continent’s narrative. We believe in the power of storytelling to inspire change, foster collaboration, and ignite the spark of possibility

NANA AKUFO-ADDO’S FINAL UN ADDRESS: LEAVE NO ONE BEHIND

As Nana Addo Dankwa Akufo-Addo steps to the podium for his final address as President of Ghana at the 79th United Nations General Assembly, the atmosphere is electric with anticipation. The world has watched him navigate eight years of leadership through turbulent global shifts, and today, his voice carries not just the weight of a departing statesman but the urgency of a visionary calling for global action. In this moment, he speaks for the marginalized, the forgotten, and the generations yet unborn. With a powerful blend of reflection, pride, and a call to reform a world on the brink of transformation, his words challenge us all—will we rise to the occasion and shape the future, or let the moment slip away? This speech is more than a farewell; it’s a roadmap for the world we must build together where no one is left behind.

The world we live in today is a stark, unfortunate contrast of privilege and hardship. For too long, the voices of those marginalised— those left behind— have been drowned out. They constitute the bulk of humanity. These are the voices of the poor, the displaced, the vulnerable. We cannot, in good conscience, leave them behind. They should be at the centre of our discussions and our decisions

Below is the full text of his inspirational speech:

“Leaving no one behind: Acting together for the advancement of peace, sustainable development, and human dignity for present and future generations” President of the General Assembly, Secretary-General,

I cannot help but reflect on the significance of this moment, as this will be my final opportunity to address the United Nations General Assembly, as I enter the closing months of my presidency. Over the past eight years, I have had the privilege of speaking on several variations of the essential themes that, quite properly, dominate the deliberations of this global assembly –the condition of humanity and the state of the planet. Serving the people of Ghana, and by extension, those of West Africa, Africa, and the world, has truly been the greatest blessing of my life. Mr. President, Ghana congratulates you on your election to preside over the affairs of the 78th Session of the General Assembly. You can count on Ghana’s support.

Indeed, being here this morning fills me with both pride and humility—pride in the limited progress we have made together as nations, and humility in recognising the challenges that still remain. My time as President has been deeply fulfilling, and I am profoundly grateful for the trust placed in me by my fellow Ghanaians. It has been an honour to serve them and to contribute to advancing peace, security, and development on the global stage.

Mr President, I am here with a heart full of hope, yet mindful of the great challenges that still confront us. As President of the Republic of Ghana, and as a citizen of the world, I am acutely aware of the shared responsibility we carry. Our work here is nothing less than shaping the future of humanity – a future that will affect generations long after we are gone.

“Leaving no one behind: Acting together for the advancement of peace, sustainable development, and human dignity for present and future generations” reminds us that the decisions we take here will define whether we rise to meet the hopes of billions or continue to let inequalities and injustices persist. We owe it to those who look to this body for leadership to act, and not just to talk.

The world we live in today is a stark, unfortunate contrast of privilege and hardship. For too long, the voices of those marginalised—those left behind— have been drowned out. They constitute the bulk of humanity. These are the voices of the poor, the displaced, the vulnerable. We cannot, in good conscience, leave them behind. They should be at the centre of our discussions and our decisions.

Africa, in particular, knows the cost of being left out. Yes, we are a continent rich in potential and resilient in the face of adversity,

but we have also been disadvantaged by a global system that has generally treated us as an afterthought. We have been viewed merely as passive recipients of aid, rather than as equal partners in global progress. The wellmeaning promises of assistance have failed to materialise to bring about the long-term change we so passionately need. Such aid, as is offered, often comes with strings attached, limiting our ability to shape our own futures.

Africa is not a continent of despair, she is full of great possibilities. She is required, however, to chart a new course of development. Our young population is filled with energy, creativity and ambition. The people of Africa are not asking for handouts— they are demanding opportunities in a new global architecture so they can have access to education, healthcare and jobs, to be able to build better lives for themselves, their families and their descendants.

In Ghana, we have taken bold and decisive steps to ensure that no one is left behind in our national development. We have shown that it is possible!

Our flagship Free Senior High School policy has benefitted five-pointsevenmillion (5.7 million) young people, many of whom would have been denied the opportunity to learn, to dream and to succeed. This initiative has transformed the lives of millions, positioning the next generation of Ghanaians to take their place as leaders in the global economy. But this is just the beginning. We need a global commitment to ensure that every child, no matter where they are born, has access to quality education. A world where children are left unprepared for the challenges ahead is not a just world.

Beyond education, we have also prioritised healthcare for our people.

Through Agenda 111, my government has embarked on the largest-ever

healthcare infrastructure project in Ghana’s history. This initiative is constructing one hundred and eleven (111) hospitals across the country, ensuring that even the most remote regions have access to modern healthcare facilities. This is part of our broader goal of ensuring that no one in Ghana is left without the basic right to health.

We have also taken significant steps to boost food security and economic growth through the Programme for Planting for Food and Jobs. This initiative has improved food production, created jobs and enhanced incomes for millions of Ghanaians. It is a clear demonstration that, with the right policies and investments, we can transform our agricultural sector and ensure that no one goes hungry. In the same vein, our 1-District-1-Factory policy is transforming the industrial landscape of the nation, generating the structural transformation of our economy, which is our major strategic objective.

In addition, Ghana has embraced, in full, the teachings of the Fourth Industrial Revolution, and is actively pursuing an agenda of digitilisation.

Under my administration, we have revolutionised public service delivery by integrating technology into governance. From the introduction of the Ghana Card, which has streamlined identification and access to services, to the digitisation of the country’s land registry, these reforms have enhanced transparency, efficiency, and accountability. Digitilisation has improved the lives of ordinary Ghanaians, and has also laid the groundwork for sustainable economic growth in the digital age.

And let us not forget the strides we have made in enhancing the rule of law and governance. Through reforms in the judicial system, strengthening our democratic institutions, and promoting transparency, Ghana continues to

Africa is not a continent of despair, she is full of great possibilities. She is required, however, to chart a new course of development. Our young population is filled with energy, creativity and ambition. The people of Africa are not asking for handouts—they are demanding opportunities in a new global architecture so they can have access to education, healthcare and jobs, to be able to build better lives for themselves, their families and their descendants

Reforming the UN Security Council is a matter of fairness and necessity. The current structure, created in 1945, no longer reflects the realities of today’s geopolitical and economic landscape. Africa, Latin America, and South Asia remain underrepresented, despite their significant influence on global affairs

be a beacon of good governance in Africa. We have enacted laws and implemented policies that uphold the principles of accountability and ensure that every Ghanaian, regardless of their background, is protected by the rule of law.

Mr President, it is impossible to address the challenges of today without speaking of the contradictions that exist within this global institution. We gather here to discuss peace, but wars continue to ravage nations. We speak of justice, yet injustice endures.

Take the Russian invasion of Ukraine, for instance. Millions of lives have been uprooted, thousands have lost their lives, and, yet, the Security Council has struggled to respond decisively, just as it is struggling to make a decisive intervention in the tragic, ongoing war in Gaza. The structure of the Council reflects a world that no longer exists, and its failure to act in times of crisis raises a difficult question: what is the purpose of the Security Council if it cannot intervene when the world needs it most?

Reforming the UN Security Council is a matter of fairness and necessity. The current structure, created in 1945, no longer reflects the realities of today’s geopolitical and economic landscape. Africa, Latin America, and South Asia remain underrepresented, despite their significant influence on global affairs.

This lack of representation undermines the legitimacy of the Council’s decisions, and the use of veto power by a few permanent members often paralyzes its ability to act effectively during crises. Reform is essential to ensure that the Council is more inclusive, democratic, and responsive to the complex challenges we face today. The world has changed, and the Security Council must change with it to maintain its relevance in promoting global peace and security.

For years, I have championed the need

to reform the Security Council as per the Ezulwini Consensus, the Common African Position on UN Reform, which calls for Africa to have a permanent seat on the Council. It is incomprehensible that a continent of 1.4 billion people has no permanent voice in shaping decisions that affect global peace and security. The time for half measures is over. We need a Security Council that is fit for purpose in today’s world. It is heartening, however, that, finally, the demand for Reform has found acceptance by leaders of two (2) of the Five (5) Permanent Members –President Joe Biden of the United States of America, and President Emmanuel Macron of France. Hopefully, the others will soon follow suit.

We must also recognise that the fight for peace goes beyond government actions. It is a fight for humanity itself. In Africa, we have often borne the brunt of conflicts, sending our troops to peacekeeping missions with limited support from the global community. While I am pleased to see the UN taking steps to finance peacekeeping in Africa, an outcome of Ghana’s presidency of the UN Security Council, we must go further. Peacekeeping alone is not enough. We must address the potential causes of conflict—poverty, inequality and lack of opportunity. True peace comes from investing in education, healthcare and economic development.

However, peace cannot be imposed from the outside. It must be built from within. African nations must take ownership of their security, and the African Union needs to strengthen itself to be able to respond swiftly to threats.

Mr President, as I speak today, ongoing developments in West Africa are deeply troubling. Military coups in Mali, Guinea, Burkina Faso and Niger threaten the democratic progress we have worked so hard to achieve within the ECOWAS Community. These coups are stark reminders that democracy is, indeed, fragile and must be continually nurtured.

Ghanaians have demonstrated time and time again, in the last three (3) decades, their strong attachment to democracy, which they will not permit to be undermined. The Electoral Commission, supported by Ghana’s security services, is well-equipped to ensure that the will of the Ghanaian people is respected

In Ghana, however, we remain resolute in our commitment to democracy.

As my presidency draws to a close, I want to assure this Assembly that the upcoming 2024 elections in Ghana will be free, fair and transparent.

Ghanaians have demonstrated time and time again, in the last three (3) decades, their strong attachment to democracy, which they will not permit to be undermined. The Electoral Commission, supported by Ghana’s security services, is well-equipped to ensure that the will of the Ghanaian people is respected. Ghana has long been a beacon of democracy in Africa, and we intend to keep it that way.

The people of Ghana, from every corner of the country, have made their voices clear: they will not tolerate any attempts to disrupt the democratic process. Ghanaians are deeply proud of their democratic heritage, and they will protect it at all costs. The 2024 elections

will be proof of our enduring adherence to the rule of law, transparency and the principles of democratic accountability that have guided our nation in recent decades.

Mr President, we find ourselves at a pivotal moment in history. The decisions we make today will shape the future of our world. We can choose to act with courage, compassion and a commitment to leave no one behind – or we can choose inaction, and allow the suffering of millions and the degradation of the planet to continue.

Let me end by reminding us all that the future is not something that simply happens—it is something we create. We have the power in this room to change the course of history. Let us not shy away from that responsibility.

Let us act now, and let us act together. I wish you God’s blessings in all your current and future deliberations.

By Blossom Ukoha

President João Lourenço of Angola, addressing the 79th United Nations General Assembly, called for urgent reforms to create a fairer global financial system. He highlighted the growing inequality within international financial structures and urged the global community to prioritize financial reforms that promote inclusivity, especially for developing nations often marginalized in global decisionmaking.

Lourenço proposed a new international financial architecture to combat illicit financial flows and recover assets lost to corruption. He expressed concern that the current system disproportionately favors wealthy nations, leaving developing countries without the resources needed to achieve their development goals. “We aim to build a new financial system where cooperation between states is crucial for fighting capital flight and asset recovery,” he said.

Linking financial justice to the Sustainable Development Goals (SDGs), Lourenço emphasized that recovering stolen assets would fund critical sectors like education, healthcare, and infrastructure, which are essential for achieving the SDGs. “Asset recovery directly impacts the implementation of the SDGs, improving living conditions in the developing world,” he stated.

The President highlighted Angola’s progress in fighting corruption, mentioning the successful recovery of $2.5 billion in embezzled funds from the United Kingdom. However, he criticized other countries for not respecting Angola’s judicial rulings and called for greater international cooperation in asset recovery. “Some nations fail to respect court decisions, even though they once accepted corrupt assets without question,” Lourenço lamented.

In addition to advocating for asset recovery, Lourenço pushed for reforms in global financial institutions like the World Bank and IMF. He argued that African nations remain underrepresented despite the significant impact these organizations’ policies have on their economies. “Angola calls for urgent reforms to ensure African nations have fair representation in major financial institutions,” he urged.

The Angolan leader outlined his country’s initiatives to diversify the economy, reduce public debt, and invest in sectors such as health, education, and renewable energy. He highlighted that 67% of Angola’s energy now comes from hydroelectric and photovoltaic sources, demonstrating the nation’s commitment to sustainable development and climate action.

Lourenço concluded by aligning his message with the UNGA’s theme of “leaving no one behind,” calling for global cooperation to ensure fair participation in the world economy. His speech underscored Angola’s dedication to creating a more equitable international financial system that fosters sustainable development and global peace.

Lourenço proposed a new international financial architecture to combat illicit financial flows and recover assets lost to corruption. He expressed concern that the current system disproportionately favors wealthy nations, leaving developing countries without the resources needed to achieve their development goals

CHINA-AFRICA: A PARTNERSHIP RENEWED

By Stephen Williams

Following the 9th edition of the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing from September 4th to 6th, London University’s School of Oriental and Asian Studies (SOAS) hosted a two-day conference to analyze the summit’s outcomes. The conference, organized by CGF-ODI-AERC and titled China-Africa: Economic Interactions—Past, Present, and Future, gathered academics, diplomats, researchers, and students to discuss key developments. A central focus was China’s announcement of nearly US$51 billion in loans, investments, and aid to Africa over the next three years.

This year’s FOCAC was attended by fifty African heads of state, representing 54 African countries, with only Eswatini declining the invitation. One of the early keynote addresses at the SOAS conference was delivered by Professor Franklin Allen, Interim Dean of the Imperial College Business School. He discussed his research on the economic impact of China’s overseas infrastructure investments, including the Belt and Road Initiative, on Chinese firms involved in these projects. Additionally, he examined how local African firms benefit from Chinese statefinanced projects in their countries. His findings indicated that both Chinese firms engaged in African infrastructure projects and the local African companies partnering with them benefit significantly from these initiatives.

The Zambian Experience

A notable perspective at the conference was provided by HE Madam Macenje Mazoka, the Zambian High Commissioner. Zambia has maintained a close relationship with China since before its independence. One of China’s largest investments in the country was the acquisition of the Chambisi copper mine in the late 1990s, which has since seen substantial development and modernization.

Following the 9th edition of the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing from September 4th to 6th, London University’s School of Oriental and Asian Studies (SOAS) hosted a two-day conference to analyze the summit’s outcomes

In 2023, the value of China’s exports to Africa reached US$173 billion, while imports amounted to US$110 billion, resulting in a trade deficit of US$63 billion, over half of the import value

Madam Mazoka shared insights about China’s contributions to Zambia’s transport infrastructure, notably the 1,860 km TAZARA railway, built with an interest-free loan from China. This railway connects the port of Dar es Salaam in Tanzania to Kapiri Mposhi in Zambia, facilitating copper exports during a time when many frontline states were boycotting apartheid South Africa’s ports.

Interestingly, Chinese President Xi Jinping, Tanzanian President Samia Suluhu Hassan, and Zambian President Hakainde Hichilema recently witnessed the signing of a memorandum of understanding for a TAZARA renovation project during FOCAC in Beijing. President Xi remarked that the renovation scheme would enhance high-quality Belt and Road cooperation between China and African nations. The revitalization of TAZARA is not only a historical testament to China-Africa friendship but also a key initiative for promoting regional connectivity. The China Civil Engineering Construction Corporation is negotiating a US$1 billion 30-year concession to operate TAZARA. In 2022, China’s Foreign Direct Investment in Africa reached US$3.96 billion, more than doubling the previous year’s figure and reflecting the growing momentum of SouthSouth Cooperation.

African Concerns

Despite these positive developments, there are rising concerns about China’s economic partnership with Africa. Critics highlight the significant expenses associated with the participation of over 50 countries in FOCAC, suggesting that modern technology could facilitate virtual conferences. Additionally, worries about African debt levels are increasing. Over the past two decades, Chinese development finance institutions have provided substantial support for infrastructure projects across Africa.

According to the Chinese Loans to Africa (CLA) Database, managed by Boston University’s Global

Development Policy Center, from 2000 to 2023, Chinese lenders issued 1,306 loans totaling US$182.28 billion to 49 African governments and seven regional borrowers. Countries like Ethiopia, Ghana, and Zambia entered 2024 having defaulted on their debt payments, with Chad also seeking debt restructuring.

In 2023, Chinese lenders made 13 new commitments worth US$4.61 billion to eight countries and two regional financial institutions. While this marks the first annual loan increase since 2016, it remains below the levels seen during the early years of the Belt and Road Initiative (BRI), which launched in 2003 with cumulative commitments exceeding US$10 billion annually. Nevertheless, Africa-China trade (encompassing imports and exports) surged to a peak of US$257.67 billion in 2022, making China a leading trading partner for many African nations.

A Growing Trade Surplus

Another growing concern is China’s persistent trade surplus with Africa. South African President Cyril Ramaphosa has been particularly vocal on this issue, urging China to increase imports of African goods. He suggested that instead of merely importing raw materials, China should foster manufacturing on the continent. “As South Africa, we would like to narrow the trade deficit and address the structure of our trade,” Ramaphosa stated during discussions at Beijing’s Great Hall of the People. “We urge more sustainable manufacturing and job-creating investments.”

In 2023, the value of China’s exports to Africa reached US$173 billion, while imports amounted to US$110 billion, resulting in a trade deficit of US$63 billion, over half of the import value. Economic challenges, including the 2008 global financial crisis, the commodity price crash of 2014-15, and the COVID-19 pandemic, have contributed to a sustained trade deficit for Africa, which widened to 2.6% of gross domestic product in 2022. Trade between Africa and

China largely involves an exchange of primary commodities for finished goods, with 89% of Africa’s exports to China consisting of extractive sector products like oil, copper, iron ore, and aluminum. Conversely, manufactured goods, such as telecommunications equipment and textiles, accounted for 94% of all imports from China during the same period.

From 2000 to 2022, Chinese lenders provided US$170.08 billion in loans to sovereign borrowers in Africa, with US$134.01 billion coming from China’s primary development finance institutions: the Export-Import Bank of China and the China Development Bank. In 2023, China’s lending to Africa rose for the first time in seven years. However, the growing debt burdens and rising borrowing costs leave little room for additional debt. Critics argue that although China’s

loans generally come with lower interest rates, they are less forgiving in times of falling commodity prices compared to loans from Paris Club countries, which are more likely to be rescheduled or written off.

Despite concerns about debt, it is worth noting that Africa’s debt to China constitutes only 11% of total sovereign debt, with the remainder held by institutions like the World Bank, the IMF, or commercial entities. Interestingly, China is not the only nation willing to invest in Africa. In 2022 and 2023, the United Arab Emirates (UAE) pledged US$97 billion in new investments in sectors such as renewable energy, ports, mining, real estate, communications, agriculture, and manufacturing—three times more than China.

Despite concerns about debt, it is worth noting that Africa’s debt to China constitutes only 11% of total sovereign debt, with the remainder held by institutions like the World Bank, the IMF, or commercial entities

Top 15 Africa’s Billion-Dollar Tech Giants

By Blossom Ukoha

Africa is on the cusp of something incredible—a tech-driven transformation that will change the way we live, work, and interact with the world

“Africa is on the cusp of something incredible—a tech-driven transformation that will change the way we live, work, and interact with the world.” — Olugbenga Agboola, CEO of Flutterwave.

In the startup world, the term “unicorn” refers to privately owned companies that have reached a valuation of over $1 billion. Unicorns are considered rare and exceptional, much like the mythical creature they’re named after. To achieve unicorn status, a startup must demonstrate rapid growth, innovation, and a strong market presence, making it a significant player in its industry. Africa, often regarded as a developing region, is now home to a growing number of unicorns. These companies are not only reaching billion-dollar valuations but are also solving critical challenges, transforming industries, and driving the continent’s tech revolution. Here are the top 15 African unicorns, their founders, and how they are reshaping Africa’s tech ecosystem.

1. Flutterwave (Nigeria)

Founded in 2016 by Olugbenga Agboola and Iyinoluwa Aboyeji with a valuation of $3 billion in 2023, Flutterwave is one of Africa’s highest-valued startups, offering seamless payment solutions across over 30 countries. It has facilitated billions in transactions, enabling African businesses to connect with global markets. Its massive impact on crossborder payments has transformed how African businesses operate and grow in the global economy.

2. Chipper Cash (Uganda)

Founded in 2018 by Ham Serunjogi and Maijid Moujaled, Chipper Cash aims to make cross-border payments in Africa easier and more affordable. Its no-fee mobile money transfers have disrupted the remittance industry, giving millions of users in seven African countries access to low-cost financial services. By 2022, Chipper Cash hit a $2 billion valuation, showcasing the massive demand for inclusive fintech solutions.

3. Interswitch (Nigeria)

Mitchell Elegbe founded Interswitch in 2002, pioneering digital payments in Nigeria. Today, it provides infrastructure for financial services across Africa, including transaction processing and digital payment gateways. In 2023, Interswitch became one of Africa’s earliest unicorns with a valuation of N66.5bn, highlighting its pivotal role in Africa’s fintech industry.

4.

Jumia (Nigeria)

Often called the “Amazon of Africa,” Jumia became the continent’s first unicorn, valued at $1 billion. Since its founding in 2012 by Sacha Poignonnec and Jeremy Hodara, Jumia has grown into Africa’s largest e-commerce platform, offering a vast range of products and services across 11 countries. In 2019, it became the first African tech company to list on the New York Stock Exchange (NYSE), marking a new era for African e-commerce.

5. Andela (Nigeria)

Founded in 2014 by Jeremy Johnson, Christina Sass, Iyinoluwa Aboyeji, and Ian Carnevale, Andela trains software developers across Africa to work remotely for global companies. By 2021, it had reached a valuation of $1.5 billion, solidifying its role in boosting Africa’s tech workforce on the global stage.

6. Wave (Senegal)

Wave is Senegal’s first unicorn and the first in Francophone Africa. Launched in 2018, it provides mobile money services with lower fees, offering an affordable alternative to traditional money transfer services. By 2022, Wave’s valuation soared to over $1.7 billion as its user base expanded across West Africa, contributing to financial inclusion in the region. It was founded by Drew Durbin and Lincoln Quirk.

7. Opay (Nigeria)

Valued at $2.9 billion, Opay offers a mobile payment platform with additional services such as food delivery, transportation, and lending. Opay’s presence across African markets continues to grow, driven by its commitment to financial inclusion and digital banking for unbanked populations.

8. Fawry (Egypt)

Founded by Ashraf Sabry, Fawry is Egypt’s leading electronic payment provider, offering a wide range of payment services. By 2022, its market capitalisation surpassed $2.5 billion, serving over 29 million customers and playing a critical role in Egypt’s digital economy and financial inclusion efforts.

9. MNT-Halan (Egypt)

Founded in 2018 by Mounir Nakhla and Ahmed Mohsen, MNT-Halan offers digital financial services and

a mobile wallet in Egypt. It reached a $1 billion valuation in 2023, highlighting its success in bridging the gap between traditional finance and digital banking.

10.

TymeBank (South Africa)

Founded by Coen Jonker and Tjaart van der Walt in 2019, TymeBank operates without branches, offering affordable banking services through kiosks and mobile apps. Its focus on financial inclusion helped the bank surpass a $1 billion valuation by 2022.

11. Yoco (South Africa)

Founded by Katlego Maphai, Carl Wazen, Lungisa Matshoba, and Bradley Wattrus in 2015, Yoco provides payment solutions to small businesses across South Africa. By 2022, Yoco had reached a $1 billion valuation, driven by its significant impact on the informal business sector.

12. MFS Africa (Pan-African)

Founded in 2009 by Dare Okoudjou, MFS Africa connects mobile money users across the continent via a single API. By 2022, the platform served over 320 million mobile wallets in 35 countries and achieved a $1 billion valuation.

13. Zepz (Pan-African)

Founded by Ismail Ahmed in 2010, Zepz (formerly WorldRemit) enables international money transfers across 70 countries. With a valuation of $5 billion in 2021, Zepz remains one of Africa’s leading fintech unicorns, serving the African diaspora worldwide.

14.

Vezeeta (Egypt)

Vezeeta, founded by Amir Barsoum in 2012, is a digital healthcare platform that allows patients to book medical appointments and access telemedicine services.

Valued at $1 billion in 2021, Vezeeta continues to expand, improving healthcare access in the Middle East and Africa.

15. Kuda Bank (Nigeria)

Launched in 2019 by Babs Ogundeyi and Musty Mustapha, Kuda Bank is Nigeria’s first digitalonly bank. By 2022, it had over 4.5 million customers and reached a valuation of $1.6 billion, reflecting its rapid growth in Nigeria’s fintech sector.

Africa’s tech ecosystem is rapidly evolving, and these unicorns are leading the charge in creating solutions that address some of the continent’s most pressing challenges. From fintech innovations driving financial inclusion to e-commerce platforms connecting businesses and consumers across borders, these billion-dollar startups are reshaping the African economy and leaving a lasting impact on global markets.

As Africa continues to produce more unicorns, the continent is positioning itself as a hub of technological innovation and entrepreneurship. These success stories prove that Africa is not just a recipient of global technological advancements but a creator of solutions poised to influence the future of technology.

“The next wave of innovation will come from Africa, where we are solving unique challenges with ingenuity, resilience, and ambition.” Dare Okoudjou, Founder of MFS Africa.

HOW BENEFICIAL IS THE UNITED NATIONS’ PARTNERSHIP WITH AFRICA?

By Joshua Muhammed

For over seven decades, the United Nations has been Africa’s most enduring partner in its fight for peace, security, and development. But behind the statistics of billions of dollars in aid and countless interventions, a haunting question remains

For over seven decades, the United Nations has been Africa’s most enduring partner in its fight for peace, security, and development. But behind the statistics of billions of dollars in aid and countless interventions, a haunting question remains: is this relationship truly balanced? As Africa grapples with escalating conflicts, climate change disasters, and widespread displacement, the UN’s presence is more critical than ever. Yet, with ongoing funding gaps and the continent receiving significantly less global support compared to other regions, can Africa rely on this partnership to shape its future, or is it doomed to remain a tale of unfulfilled promises?

A major turning point came in 1991 with the adoption of UN Resolution 46/182, which established stronger leadership for responding to humanitarian crises. This resolution created the role of the Emergency Relief Coordinator (ERC), whose mission is to champion the needs of people in emergencies. The ERC oversees key coordination mechanisms, including the InterAgency Standing Committee (IASC) and the Central Emergency Revolving Fund.

By 1998, the Department of Humanitarian Affairs (DHA) had evolved into the Office for the Coordination of Humanitarian Affairs (OCHA), expanding its mandate to coordinate humanitarian responses globally. In Africa, where nearly 40% of UN peacekeeping missions operate, the UN has grown into a cornerstone of peace, security, and development efforts.

A Longstanding Presence in Africa

The UN’s engagement with Africa began in 1945 but gained momentum in the 1960s as African nations gained independence. Today, the UN’s work spans peacekeeping, humanitarian interventions, and the advancement of the Sustainable

Development Goals (SDGs). Africa remains a top priority in the global peace and security agenda, with millions of lives depending on its successful operations.

Refugee crises and conflict intervention

Africa has faced numerous conflicts, displacing millions. The ongoing crises in Sudan, Mali, Somalia, and the Democratic Republic of Congo (DRC) have created dire humanitarian needs. By 2024, Africa accounted for over 32 million displaced individuals, with 70% of them coming from conflict zones. The UN Refugee Agency (UNHCR) and the International Organisation for Migration (IOM) have invested more than $3 billion in aiding displaced populations, offering food, shelter, and protection.

In Sudan alone, the 2023 war displaced over 1.3 million people, prompting an urgent response from the UN. Despite these efforts, funding shortfalls remain a major obstacle. For example, only 53% of the funds required to address the Sahel crisis have been met, leaving millions vulnerable to hunger and disease.

Health and Education Investments

The UN’s commitment to health and education in Africa is profound. The World Health Organisation (WHO) played a critical role in combating the Ebola outbreaks in West Africa between 2014 and 2016, allocating over $2.4 billion. Meanwhile, the UN’s Global Partnership for Education (GPE) has invested over $1.5 billion in 37 African countries, improving education access for millions of children, particularly in conflictaffected regions like Ethiopia and Kenya.

Financial Commitments and Global Comparisons

From 2010 to 2024, the UN committed over $50 billion to humanitarian aid in Africa. However, this represents less than 20% of its global funding. Other regions, like Asia and the Middle East, continue to receive more significant funding, often due to geopolitical interests. Rwandan President Paul Kagame has emphasised the need for equitable distribution of resources, urging global actors to give Africa the attention it deserves.

The Climate Crisis: A Global Challenge Africa’s climate crisis remains a pressing issue, though funding for climate adaptation lags behind other regions. The United Nations Environment Programme (UNEP) has invested $3.5 billion in climate adaptation for African countries like Mozambique, Madagascar, and Malawi, which are frequently hit by severe weather events. Still, Africa continues to receive less support than regions such as Latin America and Southeast Asia, despite being highly vulnerable to climate change.

The UN’s Lifesaving Impact

The UN’s work has transformed lives across Africa. Over the last decade, its humanitarian programs have provided food to more than 125 million people, shelter to 10 million displaced individuals, and education to over 30 million children. In South Sudan alone, the World Food Programme (WFP) feeds over 4.8 million people annually, and in the DRC, the UN supports 5.5 million internally displaced persons.

A Call for Increased Focus and Funding

Despite these achievements, the challenges are growing. Africa’s crises, from conflict to climate change, demand more global attention and resources. As UN Secretary-General António Guterres noted, “Africa’s challenges are the world’s challenges.” The international community must recognise that investing in Africa is essential to maintaining global peace and stability.

In conclusion, Africa is not just a recipient of aid but a key player in international peace efforts, contributing nearly half of the UN’s peacekeeping personnel. The UN’s role in Africa must continue to evolve, with expanded funding and resources to meet the continent’s growing needs.

From 2010 to 2024, the UN committed over $50 billion to humanitarian aid in Africa. However, this represents less

than 20% of its

global funding. Other regions, like Asia and the Middle East, continue to receive more significant funding, often due to geopolitical interests

IFAL New York 2024 Photo Gallery

In Focus: The 10th International Forum on African-Caribbean Leadership (IFAL) 2024 New York

The 10th International Forum on AfricanCaribbean Leadership (IFAL) 2024, held at the distinguished Harvard Club of New York City, has concluded with monumental success, highlighting the growing collaboration between Africa, the Caribbean, and the United States

The 10th International Forum on AfricanCaribbean Leadership (IFAL) 2024, held at the distinguished Harvard Club of New York City, has concluded with monumental success, highlighting the growing collaboration between Africa, the Caribbean, and the United States. With the theme “Uniting Leadership for a Prosperous Future”, this year’s forum focused on promoting sustainable growth, investment opportunities, and leadership excellence in critical sectors such as energy, finance, technology, and mining.

This prestigious event was graced by several high-profile leaders, policymakers, and industry experts from these regions, facilitating productive dialogues that will significantly enhance diplomatic ties, economic cooperation, and innovation across Africa and the Caribbean. IFAL has solidified its role as a leading platform for cross-continental collaboration.

Notable Attendees and Key Highlights

One of the highlights of the event was a session led by H.E. Sen. Douye Diri, who presented Bayelsa State’s strategic investment plans focusing on infrastructure and agricultural development. His presentation outlined the immense potential of Bayelsa’s arable land, oil and gas resources

The forum’s success is largely attributed to the participation of esteemed leaders who led compelling discussions on how to enhance African-Caribbean relations. Some of the notable attendees included:

• H.E. Sen. Douye Diri, Executive Governor of Bayelsa State, Nigeria

• Reta Jo Lewis, President and Chairwoman of the U.S. ExportImport Bank (EXIM)

• Dr. Benedito Paulo Manuel, Director General of Sociedade Mineira de Catoca LDA, Angola

• Eng. Victor B. Mapani, Managing Director of Zambia Electricity Supply Corporation Limited (ZESCO)

• Mr. Daniel Asiedu, Managing Director of OmniBSIC Bank Limited, Ghana

• Hon. Dee Dawkins-Haigler, Former Chair of the Georgia Legislative Black Caucus

• Mr. Harry Kalaba, President of the Citizens First Party, Zambia

• Dr. Kevin Greenidge, Governor of the Central Bank of Barbados

• Mr. Mustapha Abdul-Hamid, Managing Director of the National Petroleum Authority, Ghana

• Dr. Oluseyi Akindeinde, Founder of Hyperspace Technologies Limited

These leaders engaged in thoughtprovoking discussions, reinforcing the importance of strategic partnerships and the pursuit of a shared vision for the future. They provided insights into AfricanCaribbean relations, offering innovative strategies for economic development and cooperation in sectors that are crucial for regional prosperity.

Sessions on Leadership, Innovation, and Investment Opportunities

The forum opened with keynote speeches from Reta Jo Lewis, President of the U.S. EXIM Bank, and Dr. Ken Giami, Publisher of African Leadership Magazine. Their speeches set the tone for the event, emphasizing the importance of sustainable leadership and strategic investments in shaping the future of African-Caribbean relations.

One of the highlights of the event was a session led by H.E. Sen. Douye Diri, who presented Bayelsa State’s strategic investment plans focusing on infrastructure and agricultural development. His presentation outlined the immense potential of Bayelsa’s arable land, oil and gas resources, and aquatourism opportunities, positioning the state as a prime destination for global investors.

A spotlight was also cast on Angola’s mining sector, where Dr. Benedito Paulo Manuel provided a detailed analysis of the country’s mining resources and emphasized the importance of corporate social responsibility and the integration of technology to drive sustainable development. His insights on the future of mining in Africa captured the attention of attendees, highlighting Angola’s commitment to aligning mining practices with global sustainability standards.

Bayelsa State’s Investment Showcase

During the State Government Investment Opportunities Showcase, Sen. Douye Diri delivered a compelling pitch to potential investors, outlining Bayelsa’s strategic advantages in agriculture, energy, and tourism. The session, hosted by the Bayelsa State Investment Promotion Council, attracted widespread interest from participants, many of whom expressed their intent to explore investment opportunities in the region.

Bayelsa’s investment pitch focused on the state’s:

• Rich arable land, ideal for agricultural projects

• Abundant oil and gas resources, providing ample opportunities for energy investments

• Untapped aquatourism potential, promising a boost to the state’s tourism sector

These opportunities positioned Bayelsa as a unique investment destination with enormous potential for sustainable growth.

Celebrating Leadership Excellence: IFAL Awards

One of the key highlights of the forum was the IFAL 2024 Awards Ceremony, which celebrated outstanding

contributions to African-Caribbean leadership. This year’s awardees represented leaders who have made significant strides in advancing economic cooperation, public service, and sustainable development. The following distinguished individuals were recognized for their achievements:

1. Eng. Victor B. Mapani – ZESCO African Leadership Special Commendation Award

2. Dr. Oluseyi Akindeinde – Special African Leadership Commendation Award

3. H.E. Martin Gama Abucha –African Leadership Public Service Excellence Award

4. Mr. Harry Kalaba – Global Inspirational Leadership Award

5. Dr. Kevin Greenidge – Global Leadership Excellence Award

6. Mr. Mustapha Abdul-Hamid – Africa Energy Leadership Commendation Award

7. H.E. Sen. Douye Diri – African Leadership Best Performing Governor Award (South-South Nigeria)

8. Sen. Barr Sunday Marshall Katung – African Leadership Legislative Excellence Award

One

of the key highlights of the forum was the IFAL 2024 Awards Ceremony, which celebrated outstanding contributions to African-Caribbean leadership. This year’s awardees represented leaders who have made significant strides in advancing economic cooperation, public service, and sustainable development

These awards celebrated the exemplary achievements of African and Caribbean leaders in politics, business, and public service, reinforcing the forum’s commitment to excellence in leadership.

U.S. Special Commendations for International Leadership

• Sen. Barr Sunday Marshall Katung, who received special congressional commendations from the South Carolina General Assembly

These accolades highlighted the recognition of African and Caribbean leadership at an international level, emphasizing the global significance of the contributions made by the forum’s attendees.

Forging Lasting Partnerships for a Prosperous Future

IFAL 2024 facilitated networking opportunities that resulted in the formation of new and impactful partnerships across multiple sectors, including energy, infrastructure, technology, and finance. These partnerships are poised to foster longterm collaboration between Africa, the Caribbean, and the United States, advancing the development of critical industries and promoting economic growth across these regions.

IFAL 2024 facilitated networking opportunities that resulted in the formation of new and impactful partnerships across multiple sectors, including energy, infrastructure, technology, and finance

Several participants were honored with special commendations from U.S. states for their outstanding leadership contributions. Among the recipients were:

• Eng. Victor B. Mapani, who received a Congressional Commendation from the South Carolina General Assembly

• Dr. Benedito Paulo Manuel, who was awarded Honorary Citizenship of Georgia by the Georgia Senate

• Mr. Daniel Asiedu, who earned a Special Commendation from the State of South Carolina

• Dr. Oluseyi Akindeinde, who received a Special Congressional Commendation from the South Carolina General Assembly

• H.E. Sen. Douye Diri, who was granted Honorary Citizenship of the State of Georgia

Dr. Ken Giami, Chairman and Publisher of African Leadership Magazine, praised the forum’s achievements, noting that the insights shared and partnerships formed during the event will leave a lasting impact on the future of AfricanCaribbean relations.

With plans for future editions already underway, the International Forum on AfricanCaribbean Leadership continues to serve as a beacon for sustainable development and cross-continental collaboration, with a focus on building a prosperous future for Africa and the Caribbean

In his closing remarks, H.E. Sen. Douye Diri reiterated the significance of the forum, stating, “This platform has allowed us to exchange ideas, identify challenges, and chart a course towards a prosperous future. The partnerships born here will play a crucial role in shaping the future of both regions.”

With plans for future editions already underway, the International Forum on African-Caribbean Leadership continues to serve as a beacon for sustainable development and crosscontinental collaboration, with a focus on building a prosperous future for Africa and the Caribbean.

Sir keir starmer’s government: : Opportunities & Impact on Africa’s Development Partnerships

By Stephen Williams

The UK general election in July ’24 saw Labour’s landslide defeat of the Conservative party. Labour’s victory can hardly be described as a surprise—the polls had forecast the Conservative (Tories’) defeat leading up to the election, owing to a number of disastrous scandals that had scuppered the Tories’ chances.

Under the leadership of Boris Johnson (who won a substantial majority at the 2019 general

election), the Tories had successfully navigated the process that saw Britain leave the European Union (Brexit).

But the subsequent COVID-19 pandemic led the government to introduce public-health restrictions, including limitations on social gatherings, that Johnson and some of his staff were later found to have broken.

Furthermore, there were a number

of seemingly corrupt contracts involving the purchase of medical equipment to combat the Covid-19 pandemic.

But the political scandal surrounding a number of parties thrown by Johnson at his Downing Street headquarters, known collectively as Partygate, was just part of a string of controversies that characterised Johnson’s premiership and severely damaged his personal reputation.

The UK general election in July ’24 saw Labour’s landslide defeat of the Conservative party. Labour’s victory can hardly be described as a surprise—the polls had forecast the Conservative (Tories’) defeat leading up to the election, owing to a number of disastrous scandals that had scuppered the Tories’ chances

The situation escalated with the Chris Pincher scandal in July 2022. Pincher was accused of homosexual misconduct.

Although not implicated in the Pincher imbroglio, Johnson resigned as an MP the following year, after an inquiry concluded that he had also lied to Parliament.

There followed the short-lived premiership Liz Truss that collapsed with her disastrous budget and ushered in Rishi Sunak as Britain’s first Hindu prime minister in 2022.

Sunak called a snap election in 2024, which saw the socialist Labour Party take power. At the election, no fewer than 411 seats of the 630 seats in the House of Commons (the lower house of the UK parliament) were won by Labour, compared to the 121 seats won by the Tories.

The Labour leader, Sir Kier Starmer, was invited by King Charles III to form a new government, and the new prime minister vowed to put “country first, party second” and rebuild Britain “brick by brick.

The election was the first general election victory for Labour since 2005 and ended

the Tories’ 14-year tenure as the primary governing party.

Perhaps the most surprising aspect of the election was the size of the turnout. Less than 60% of the electorate actually cast a vote, leading some analysts to conclude that there was a general disillusionment with British politics and politicians in general.

When Starmer announced his new cabinet, there were no real surprises. The position of Chancellor of the Exchequer (the British term for Minister of Finance) went to Rachel Reeves, Britain’s first woman to hold the post.

The post of Home Secretary was filled by another female, Yvette Cooper, while David Lammy, a black politician with AfroCaribbean Guyanese ancestry, became the Foreign Secretary.

There was an air of optimism surrounding the new government, short-lived when a new scandal came to light. Donations by a Labour supporter towards the wardrobe of Starmer and his wife and other questionable ‘freebies’ cast a shadow over the probity of the new government.

For David Lammy, this was an unwelcome development just as he began to take charge of the Foreign and Commonwealth Ministry. And as he began to take charge, a number of very difficult foreign problems became apparent. His in-tray must have been overflowing.

One of the first questions he had to grapple with was the question of Britain’s commitment to overseas development aid.

This had previously been the responsibility of the Department for International Development (DfID), but Boris Johnson had closed this department and replaced it with the Foreign Commonwealth & Development Office (FCDO), which operated fully as a Foreign Office department.

Slashing the Aid budget

What had been a pledge to provide an aid equivalent to 0.58% of the gross national income (GNI), itself less than the 0.7% UN target, had been slashed by the Tories to only 0.50% of GNI, a GB£3 billion (US$4.3 billion) cut.

This was due to the increasing amount spent on housing asylum seekers and refugees that reach the UK—at a cost that experts at the UK and US-based Centre for Global Development think tank estimate will reach US$4.7 billion this year.

Slashing the aid budget and redirecting a large chunk of what is left of it was a reckless case of tackling the symptoms rather than the cause.

And it was a measure that a number of other European countries had made—counting what was essentially a domestic expense as a ‘foreign aid’ expenditure, helping to meet promises they had made to the UN to provide 0.7% of their gross national income as overseas aid to the very poorest of the world’s countries.

African conflicts deemed less important Meanwhile, conflicts in the Middle East and Ukraine continue to dominate the West’s media coverage, despite the fighting in Africa, in Sudan, Kivu in the DRC, and Ethiopia and elsewhere.

In Sudan, fighting between the military and the ruthless Rapid Support Force has ripped the country apart, displacing millions and claiming countless lives.

As the conflict approached its 18-month mark, well over 10 million people have been displaced—half of them children, according to UNICEF—which is intensifying efforts to protect children and provide urgent humanitarian assistance.

The conflict has shattered the country’s infrastructure, disrupted basic services, and left millions in need of humanitarian assistance, but as is so often the case, African conflicts receive less attention than, for instance, the horrifying Middle East and Ukraine conflicts that are covered at length by the Western press. (As this magazine goes to press, we await Israel’s promised retaliation against Iran.)

Return of the Chagos Islands

In a surprise move, the new UK government announced an agreement that it had reached with Mauritius regarding the Indian Ocean archipelago, the Chagos Islands.

important UK-US military base on the main island. Diego Garcia signed a 99year agreement that Britain would retain control over the main island military base, ending years of bitter dispute over Britain’s last African colony.

In a statement to parliament, the foreign secretary said the deal had to be agreed as the status quo was clearly “not sustainable.” Citing US support for the agreement, Lammy told MPs, “It’s critical for our national security. Without security of tenure, there will be no base. The deal benefits us, the UK, the US, and Mauritius.”

He added, “This is a victory for diplomacy. We saved the base; it has been secured for the long term.”

Lammy said that if the government had not agreed the deal, a binding judgement against the UK seemed inevitable, and it would risk losing the base or breaching international law.

In a surprise move, the new UK government announced an agreement that it had reached with Mauritius regarding the Indian Ocean archipelago, the Chagos Islands

It was a long-overdue development that in some ways made amends for the shameful way that Chagossians were expelled from their homes in the 1960s and 70s, against their will, to make way for a US military base.

Britain’s behaviour has been described as a crime against humanity and one of the most disgraceful episodes of postwar colonialism. Five years ago, the International Court of Justice issued an advisory opinion condemning the UK’s continued control over the Chagos Islands.

There was considerable criticism of the Chagos deal by the Tory opposition, which described the move as a betrayal of British interests with the “giving away” of a key asset.

Lammy defended the Chagos deal, saying it saves the strategically

Conservative MPs heckled Lammy over the deal, even though the previous government had taken part in 11 rounds of negotiations, the last held just before the general election. Negotiations were initiated in November 2022, and two former Tory foreign secretaries, James Cleverly and David Cameron, took part.

The current shadow foreign secretary, Andrew Mitchell, said that the government “proposes to give away a key military asset,” saying this “gives succour to our enemies in a dangerous world

The current shadow foreign secretary, Andrew Mitchell, said that the government “proposes to give away a key military asset,” saying this “gives succour to our enemies in a dangerous world.”

The former immigration minister Robert Jenrick, who is in a race to become the Tory leader, also condemned the deal, saying: “We’ve just handed sovereign British territory to a small island nation (Mauritius), which is an ally of China, and we are paying for the privilege, all so the foreign secretary can feel good about himself. In whose interests does he think he serves: those of the global diplomatic elite, or those of the British people and our national interest?”

Lammy said that in return for Mauritius having sovereignty over the islands, including Diego Garcia, base operations

will remain under UK control into the next century—initially for 99 years with the UK having a right to extend.

Importantly, the agreement will allow a right of return for Chagossians. “The manner in which Chagossians were forcibly removed in the 1960s was deeply wrong,” Lammy said.

Yasmine Ahmed, the UK director of Human Rights Watch, which supported a protest by some Chagossians opposed to the deal outside parliament, commented: “Chagossians have a right to be consulted about their homeland, but they were not in fact consulted. The government must bring the Chagossians into these negotiations. They cannot negotiate away their responsibility towards the Chagossians.”

MILESTONES OF AFRICAN MUSICIANS ON THE GLOBAL STAGE

By Solomon Obi

According to the International Federation of the Phonographic Industry (IFPI), the music industry in Sub-Saharan Africa grew by more than 20%, making it the fastest-growing music market in the world

Imagine a sound so captivating that it transcends borders, ignites stadiums, and unites millions worldwide. This sound, born in the heart of Africa, now dominates the global stage with remarkable intensity. But this isn’t just about music—it’s a cultural revolution. In the past decade, African musicians have broken records, won Grammy awards, and soldout arenas in cities like New York and London. Behind the bright lights and roaring crowds lies a deeper story: one of perseverance, creativity, and a relentless pursuit of global recognition. These artists are not just creating songs—they are shaping the future of music.

Afrobeats, in particular, has skyrocketed to global fame. African music now competes with international superstars like Beyoncé, Kendrick Lamar, and Taylor Swift while dominating charts and winning prestigious awards. According to the International Federation of the Phonographic Industry (IFPI), the music industry in Sub-Saharan Africa grew by more than 20%, making it the fastest-growing music market in the world. Streaming platforms like Spotify have played a significant role in this surge, helping African musicians reach new audiences. By 2027, experts predict that Africa’s music market will be worth over $513 million, growing by more than 7% annually.

Let’s take a closer look at some of the trailblazing artists leading this movement:

1. Burna Boy

Damini Ebunoluwa Ogulu, better known as Burna Boy, has been a dominant force in global music since his breakthrough in 2010. His debut album L.I.F.E. (2013) climbed to number seven on the Billboard Reggae Albums chart. Burna Boy describes his style as “Afro-fusion,” blending Afrobeat, dancehall, hip-hop, pop, R&B, and reggae. His journey to success wasn’t without challenges—early in his career, he faced numerous rejections. But his determination paid off, and he gained international recognition after signing with Atlantic Records. His music often tackles pressing social issues, such as poverty and political corruption, making him a powerful advocate for African voices. His Grammy win for Best Global Album in 2021 was a landmark moment

for African music. Burna Boy has also sold out worldrenowned venues like Madison Square Garden and London’s O2 Arena, inspiring a new generation of African artists to follow in his footsteps.

Ayodeji Ibrahim Balogun, popularly known as Wizkid, is a pioneer of Afrobeats and a major influencer in global pop culture. Wizkid started his musical journey at just 11 years old and became a sensation after signing with Banky W’s Empire Mates Entertainment in 2009. His debut album Superstar (2011) solidified his status as a youth icon, particularly for Generation Z in Africa. His single “Essence,” featuring Tems, became the first Nigerian song to chart on the Billboard Hot 100, peaking at number nine. Wizkid’s collaboration with Beyoncé on “Brown Skin Girl” earned him a Grammy Award for Best Music Video in 2021. With other international collaborations featuring stars like Chris Brown and Drake, particularly his work on “One Dance,” Wizkid has firmly established himself as a global ambassador of African music. His loyal fanbase, known as Wizkid FC, has been instrumental in promoting his music worldwide.

David Adedeji Adeleke, known professionally as Davido, rose to fame with his 2011 hit single Dami Duro. Born into a wealthy family, Davido used his platform to elevate Afrobeats, incorporating luxury, fashion, and social media into his brand. His international collaborations with stars like Chris Brown and Nicki Minaj have helped globalise African music. Davido’s album Timeless debuted at number 37 on the Billboard 200, and he has received multiple Grammy nominations, showcasing his global influence. Beyond music, his philanthropy and generosity have earned him a beloved status in Africa’s music scene.

Divine Ikubor, also known as Rema, is a fast-rising star in the Afrobeats genre. His breakout hit Dumebi in 2019 put him on the global map, but it was the remix of Calm Down with Selena Gomez that catapulted him to worldwide fame. The song reached number three

2. Wizkid

3. Davido

4. Rema

on the Billboard Hot 100 and dominated the U.S. Afrobeats chart for a record-breaking 39 weeks. With over 2 billion streams across platforms, Rema is now one of the most promising talents in African music. His fusion of Afrobeats with R&B and hip-hop has helped him achieve chart-topping success and cemented his place as a global music force.

5. Tyla

South African singer Tyla Laura Seethal, known as the “Queen of Popiano,” blends pop with the amapiano genre. Her debut single Getting Late was a national hit, leading her to sign with Epic Records. Tyla’s viral single Water became a TikTok sensation, eventually earning her a Grammy Award for Best African Music Performance in 2024. Her critically acclaimed debut album and dynamic live performances have made her one of Africa’s most exciting musical exports.

6. Tems

Temilade Openiyi, better known as Tems, left her corporate job in 2018 to pursue music—a risk that paid off in spectacular fashion. Her early singles, Mr. Rebel and Try Me, set the stage for her breakthrough. International fame came when she featured on Wizkid’s Essence, which made history as the first Nigerian song to chart on the Billboard Hot 100. Tems later topped the Billboard charts with her contribution to Future’s Wait for U, and she became the first African female artist to win the Billboard Women in Music Award in 2024.

7. Asake

Ahmed Ololade, known by his stage name Asake, started his career as a backing vocalist but found fame with his 2020 single Lady. His viral hit Omo Ope earned him a deal with YBNL Records, launching him to stardom. Asake’s distinctive blend of Afrofusion, Amapiano, R&B, and Fuji music sets him apart in the industry. His hit Amapiano, featuring Olamide, earned him a Grammy nomination in 2023. His ability to sell out major venues like Madison Square Garden underscores his growing international popularity.

These rising stars are not only transforming the global music scene but also reshaping Africa’s narrative. Their success showcases the continent’s immense creative potential and hints at a bright future for African music on the global stage.

HOW TAPPING INTO THE POWER OF THE GLOBAL BLACK ECONOMY CAN BOOST AFRICA’S INNOVATION AND PROSPERITY

By Maureen Jessica GABA, Cotonou Hub –Global Shapers Community and Founder of Saava tech accelerator, and

Angèle

Melly Yanga, Yaoundé Hub – Global Shapers Community and Managing Director of Bridging Afrika

• More than 200 million people of African descent live outside the continent and will soon make up over 25% of the global population.

• Innovation, community engagement and diaspora insights can help reshape the African continent’s vibrant landscape of opportunity and growth.

• With knowledge of technologies and industries acquired abroad, the African diaspora is uniquely placed to develop solutions tailored to Africa’s needs.

With more than 200 million people of African descent estimated to live outside the African continent, and another 1.4 billion-plus people living within, there is no denying that the African diaspora continues to develop as a demographic that will soon make up over 25% of the global population.

However, the success of the population depends on a transformative journey through the intertwined realms of technology, economic potential and cultural exchange in Africa and its diaspora.

Through innovation, community engagement and diaspora insights there is a palpable movement to reshape a vibrant landscape of opportunity and growth.

The diaspora’s contribution to economic growth in Africa

With more than 70% of the African continent lacking internet access, digital literacy is one of the main developmental challenges on the continent. Despite this, the continent has seen the emergence of technological innovations – in sectors such as agriculture, healthcare and fintech – that are fostering economic growth, solving social issues and narrowing the digital divide.

Some of the most noticeable and impactful innovations are the mobile money platforms Wave in Senegal and M-Pesa in Kenya, African e-commerce startup Wasoko, and healthcare startup Pharmarun in Nigeria.

However, it is noteworthy that most of these innovations have non-African founders, which contributes to fostering a dependency mindset in young Africans. What if the African diaspora was a driving force behind the continent’s economic growth by investing in Indigenous innovation?

The diaspora has immensely contributed to Africa’s development. The skills and knowledge acquired by experiencing cutting-edge technologies and industries that are hardly found in continent, paired with an understanding of cultural practices, have placed

With more than 200 million people of African descent estimated to live outside the African continent, and another 1.4 billion-plus people living within, there is no denying that the African diaspora continues to develop as a demographic that will soon make up over 25% of the global population

In 2021, the estimated spending power of the Black population in the US was $1.7 trillion. Despite that figure increasing over time, the net worth of the same community decreased by 14% due to several factors, including the reduction in long-term investments such as real estate acquisitions

the diaspora in a unique position to develop solutions tailored to Africa’s needs.

In addition, the remittances they send to the continent often outweigh the foreign direct investment and developmental aid. They contribute to innovation by giving the youth access to educational opportunities that open the door to understanding the issues in their communities and working toward solving them.

Channelling those skills and contributions towards the growth of an African-owned innovation ecosystem could place millions of young Africans at the centre of solution building and unleash the potential technology and innovation have to drive socioeconomic development across the continent.

Increasing the wealth of the African diaspora

As the Black population continues to grow and innovations and technologies become increasingly available, an environment of economic potential is cultivated that could boost local communities and beyond.

Research underscores that the economic advancement of Black individuals transcends personal prosperity—it catalyses a ripple effect that reshapes entire communities and contributes to the broader global economy. Accordingly, access to market opportunities will continue to be critical to building sustainable wealth across the diaspora.

In 2021, the estimated spending power of the Black population in the US was $1.7 trillion. Despite that figure increasing over time, the net worth of the same community decreased by 14% due to several factors, including the reduction in long-term investments such as real estate acquisitions.

Understanding how this group accesses and leverages wealth is critical to ensuring their future economic contributions drive innovation, foster diversity, and expand markets. Local structures like community development financial institutions (CDFIs) and minority depository institutions (MDIs) present an opportunity to invest in the supply of innovations and businesses demanded in historically underserved communities.

Connecting cultures through trade

Diasporas from across the African continent exist in every part of the world, contributing to economies and sharing culture while having direct or indirect ties to the continent.

The economic potential of emerging technologies, innovation, capital flow, and spending power from diaspora communities and African peoples on the continent lies dormant unless the ties and connections between them are deepened.

People-to-people connections are the foundation of business relationships and that’s why conferences are still successful, because relationships and common ground are the foundation of business. African diasporas around the world have unique insights, market intelligence and spending power as consumers that could act as a catalyst for market expansion for African businesses seeking partnerships, market share and capital.

Though financial contributions like money transfers from the African diaspora play a vital role in reducing poverty, it’s critical that relationshipbased partnerships have access to capital to deepen their investments which ultimately improves household incomes and promotes other investments and entrepreneurial ventures.

Africans in the diaspora have the potential to be the innovators, researchers and investors that will empower the next generation and boost economic prosperity through technology and innovation.

Through investing with local institutions and fostering deeper connections across the African diaspora and Black cultures, there are endless opportunities to have real impact on the economic mobility and wealth of the population.

Culled from The World Economic Forum

The economic potential of emerging technologies, innovation, capital flow, and spending power from diaspora communities and African peoples on the continent lies dormant unless the ties and connections between them are deepened

THE ECONOMIC STATE OF BLACK AMERICA: WHAT IS AND WHAT COULD BE EDITOR’S Pick

King Richard Igimoh f.hd Group editor, African Leadership Magazine

The economic journey of Black Americans is a mix of small wins and big hurdles, shaped by a long history of systemic oppression. Sure, some progress has been made, but deeprooted disparities like the wage gap, wealth inequality, and barriers to homeownership are still holding many back. It’s a stark reminder of the racial and economic justice issues this country has yet to resolve.

This article takes a look at the current state of Black America’s economy and explores what the future could hold, especially if the next administration takes bold steps to level the playing field. The coming years could be a game-changer—if the right choices are made.

Current Economic Landscape of Black America

Income Disparities and Wage Gaps

Wage inequality is a stubborn issue for Black Americans. In 2023, the median household income for Black families was around $50,000, compared to $83,000 for white families. That’s right—Black households earn only 60% of what white families bring in, a trend that’s remained frustratingly steady for years.

Many Black Americans are stuck in lower-paying jobs like food service, retail, and healthcare support, while being underrepresented in high-paying industries like tech and finance. This kind of job segregation keeps wages down and fuels the growing economic divide.

On top of that, Black workers face a wage gap compared to their white counterparts, making around 76 cents for every dollar a white worker earns. Even though more Black Americans are earning college degrees, the wage gap lingers on, showing that education alone isn’t fixing this issue.

Unemployment and Underemployment

While unemployment for Black Americans hit a historic low of 5.4% in 2023, it’s still much higher than the 3.1% for white Americans. This difference isn’t just about economic ups and downs—it’s tied to discriminatory hiring practices, unequal education opportunities, and geographic challenges in finding quality jobs.

On top of that, many Black workers are underemployed, working jobs that don’t match their skill level or not getting enough hours. The rise of gig work has only made this worse, pushing more Black workers into low-benefit, temporary jobs with little longterm security.

Wage

inequality is a stubborn issue for Black Americans. In 2023, the median household income for Black families was around $50,000, compared to $83,000 for white families. That’s right—Black households earn only 60% of what white families bring in, a trend that’s remained frustratingly steady for years

Education is the key to unlocking economic mobility, but the current system is stacked against Black students. The next administration should focus on pumping more money into underfunded schools in Black communities and expanding early childhood education, which has been proven to boost long-term outcomes

The Wealth Gap: A Legacy of Inequity

When it comes to wealth, the racial divide is crystal clear. In 2022, the median net worth of Black households was around $45,000, while white households sat at a whopping $287,000. For every $100 in wealth held by white families, Black families hold just $15.

This wealth gap is rooted in generations of exclusion from wealth-building opportunities, from discriminatory housing policies to limited access to business capital. Take homeownership, for example. It’s been a key path to building wealth in America, but only 44% of Black Americans own homes compared to 73% of white Americans. Discriminatory lending and housing policies are big reasons for this gap.

Educational Attainment and Economic Mobility

While more Black Americans are getting college degrees, they’re not seeing the same financial rewards as their white counterparts. A collegeeducated Black family has less wealth than a white family led by a high school graduate. One major factor? Student loans. Black graduates owe about $25,000 more than white graduates, on average, which weighs down their financial progress.

The schools themselves are part of the problem too. Many Black students attend underfunded schools or historically Black colleges (HBCUs) that may lack the same resources for career advancement as predominantly white institutions.

What Could Be: Pathways to Economic Prosperity

Addressing Educational Inequities

Education is the key to unlocking economic mobility, but the current system is stacked against Black students. The next administration

should focus on pumping more money into underfunded schools in Black communities and expanding early childhood education, which has been proven to boost long-term outcomes.

Pushing for more STEM education and vocational training will also help Black students land better-paying jobs in industries like technology and healthcare. And let’s not forget the student loan crisis. Offering incomedriven repayment plans and boosting Pell Grants can lighten the debt load for Black graduates.

Promoting Black Entrepreneurship

Black-owned businesses are crucial for building wealth in Black communities, but too often, entrepreneurs face major obstacles. Access to capital is a big one—Black business owners are less likely to get loans and, when they do, they often come with higher interest rates.

The next administration could change this by expanding community development financial institutions (CDFIs), which offer loans to underserved communities, and increasing funding for programs that support minority-owned businesses.

Expanding Homeownership and Affordable Housing

To close the wealth gap, more Black families need access to affordable housing and homeownership. Expanding down payment assistance programs and reforming mortgage lending practices will help, as will investing in affordable housing developments in Black communities. These steps could prevent gentrification, which disproportionately displaces Black residents.

Reducing the Wealth Gap

Closing the racial wealth gap requires big, bold moves. Some economists say reparations—financial compensation for

the descendants of enslaved people— could be key. But tax reform could also play a role. Closing tax loopholes that benefit the ultra-wealthy and redirecting that money toward programs that lift up Black communities could make a real difference.

The Role of the Next Administration

The next administration has a chance to reshape the economic future of Black Americans by focusing on key areas like education, entrepreneurship, and housing.

Here are some priorities:

• Educational Reform: Fund underresourced schools, expand early childhood education, and tackle student debt.

• Entrepreneurship Support: Improve access to capital for Black-owned businesses through CDFIs and federal programs.

• Housing Policy: Expand homeownership opportunities and protect Black communities from displacement.

• Tax Reform: Close tax loopholes and invest in economic mobility for Black Americans.

• Reparations: Consider reparations as part of the solution to the wealth gap.

A Vision for Economic Equity

The economic state of Black America shows both the progress made and the long road ahead. The wage gap, wealth inequality, and housing barriers may be deeply rooted, but they’re not immovable. With bold action from the next administration, it’s possible to build a future where Black Americans enjoy the same opportunities for economic prosperity as everyone else.

The economic state of Black America shows both the progress made and the long road ahead. The wage gap, wealth inequality, and housing barriers may be deeply rooted, but they’re not immovable

REVISITED WHAT’S IN IT FOR BOTH PARTIES?

At the 8th Africa Summit in London, Lord Dolar Popat delivered a speech titled ‘TRADE IS THE EQUALISER FOR AFRICA’ that encapsulated the urgent need for a redefined narrative on Africa, one that recognises the continent’s untapped potential and positions it as a formidable partner in global trade. His role as the UK Prime Minister’s Trade Envoy to DR Congo, Uganda, and Rwanda underscores a growing recognition of Africa as a future economic powerhouse. With Africa accounting for 17% of the world’s population but only 3% of global GDP, Lord Popat’s call for equitable trade partnerships is both timely and essential.

Highlighting Africa’s rapidly growing population, mineral wealth, and digital transformation, Popat stressed that the continent is poised to play a significant role in the world’s future economic order. This view is supported by Africa’s increasing urbanisation and the potential of the African Continental Free Trade Agreement (AfCFTA) to reshape the global trading landscape by creating the world’s largest free trade area.

His message resonates beyond trade; it’s a call to action for global leaders to invest in Africa’s education, infrastructure, and healthcare sectors, which will be the bedrock of the continent’s growth. The UK’s partnership with Africa through initiatives like the Developing Countries Trading Scheme (DCTS) and UK Export Finance (UKEF)

signals a commitment to fostering long-term, mutually beneficial relationships.

The summit was a reflection of a broader dialogue around Africa’s future, with top business leaders and policymakers echoing Lord Popat’s message of cross-border partnerships and sustainable development for shared prosperity.

Here’s an excerpt of the address:

TRADE IS THE EQUALISER FOR AFRICA

Introduction

Ministers, Your Excellencies, Members of Parliament, and distinguished guests, it is a great honour to address the 8th ALM Africa Summit, an event that brings together Africa and the UK. Since 2016, I have served as the Prime Minister’s Trade Envoy to Uganda and Rwanda, with the Democratic Republic of Congo added to my portfolio in 2020. This role fills me with pride for three key reasons:

1. My deep connection to East Africa, particularly Uganda, my birthplace.

2. The enormous economic potential Africa holds, both now and in the future.

3. My belief in the importance of partnerships between Africa and British businesses, renowned for their high standards and integrity.

Trade and investment are the keys to unlocking Africa’s potential. By fostering genuine partnerships, we can dismantle the legacy of exploitation and usher in a new era of cooperation. African

nations have much to offer, not just in terms of natural resources but also in talent, creativity, and knowledge

Challenging the Narrative

Today, I want to address an issue that has long affected the way Africa is perceived: the narrative surrounding the continent. Africa, a vibrant and diverse continent, has often been treated as a mere provider of commodities, exploited, and excluded from the global conversation. This narrative needs to change. Africa should no longer be viewed as a resource to be plundered but as a continent brimming with untapped potential, innovation, and human capital. It’s time for Africa to be recognised as an equal partner in shaping its own destiny and contributing to global progress.

The Role of Trade and Investment

Trade and investment are the keys to unlocking Africa’s potential. By fostering genuine partnerships, we can dismantle the legacy of exploitation and usher in a new era of cooperation. African nations have much to offer, not just in terms of natural resources but also in talent, creativity, and knowledge. Empowering Africa involves investing in critical sectors such as education, healthcare, and infrastructure, which will create the foundation for sustainable growth.

Africa’s Potential

Africa is the next frontier for trade and investment. With 17% of the world’s population but only 3% of global GDP, the continent presents immense growth opportunities. Africa has a young and rapidly growing population, and by 2050, one-quarter of the world’s people will be African. Rapid urbanisation and the continent’s vast mineral wealth, including the Democratic Republic of the Congo’s $30 trillion in reserves, further illustrate Africa’s promise. Digitisation, infrastructure improvements, and political reforms are also helping drive Africa’s progress.

The African Continental Free Trade Agreement (AfCFTA)

The African Continental Free Trade Agreement will establish the world’s largest free trade area, potentially increasing African income by $134 billion annually. This agreement will ease the movement of goods and services across the continent, helping to reduce the UK’s regionally imbalanced trade with Africa and creating new opportunities for mutual prosperity.

UK Support for Africa

The UK remains committed to supporting Africa’s development through partnerships such as the UK Export Finance (UKEF), which facilitates infrastructure projects and helps UK businesses meet content requirements for African ventures. The Developing Countries Trading Scheme (DCTS) is another important initiative aimed at boosting economic growth, creating jobs, and driving development through preferential trade terms.

In conclusion, the partnership between Africa and the UK holds immense potential. Global Britain is not just a slogan—it represents our shared future with Africa. Together, we can shape a brighter, healthier, and more prosperous future. Let us continue to strengthen our bonds, expand trade, and ensure that Africa’s voice is heard on the global stage.

The UK remains committed to supporting Africa’s development through partnerships such as the UK Export Finance (UKEF), which facilitates infrastructure projects and helps UK businesses meet content requirements for African ventures

WOMEN-LED BUSINESSES IN AFRICA: A PARADIGM SHIFT IN ECONOMIC POWER

By Blessing Ernest

Africa has long been a continent of boundless potential and untapped opportunities, rich in both natural resources and human capital. It is not only its mineral wealth or demographic advantages that draw attention but also the emergence of a formidable force—women-led businesses.

Long overshadowed by entrenched stereotypes and systemic gender imbalances, the narrative is shifting. African women are redefining leadership in business, driving innovation, and carving out spaces in traditionally male-dominated sectors. These women are not merely participants in the economy; they are shaping and leading it, proving that the future of African business is female.

The data speaks: A quiet revolution in numbers

While women’s entrepreneurship is a global phenomenon, Africa stands out with one of the highest rates of female entrepreneurship in the world. According to the Global Entrepreneurship Monitor (GEM) 2021/2022 report, approximately 24% of African women start or manage a business, compared to just 10% in North America and 8% in Europe.

In countries like Nigeria, Uganda, and Ghana, women own or manage more than a third of all businesses. This surge in womenled enterprises is creating significant ripple effects across various sectors, from agriculture and retail to technology and healthcare services. Women are stepping into leadership roles and launching disruptive startups, particularly in banking and financial inclusion for underserved populations.

The African Development Bank (AfDB) reports that closing the gender gap in economic participation could add as much as $316 billion to the continent’s economy by 2025. This projection highlights the tangible economic potential women entrepreneurs represent, not only for the businesses they create but also for the entire African economy.

A major driver of this growth is the necessity of entrepreneurship— many African women start businesses to survive in economies where formal employment opportunities are limited. However, recent years have seen a shift towards opportunity-driven entrepreneurship, with women seeking to leverage market gaps and disrupt traditional industries.

This trend reflects the increasing presence of highly educated, skilled women entering the entrepreneurial arena, particularly in sectors such as finance, energy, and technology. A World Bank report highlights that African women reinvest up to 90% of their income back into their families and communities, amplifying the social impact of their businesses.

The rise of these businesses correlates strongly with the increasing number of women gaining access to higher education,

Africa has long been a continent of boundless potential and untapped opportunities, rich in both natural resources and human capital. It is not only its mineral wealth or demographic advantages that draw attention but also the emergence of a formidable force—women-led businesses

The economic contributions of women entrepreneurs in Africa are staggering. According to McKinsey & Company, if women in Africa participated in the economy at the same rate as men, the continent’s GDP could increase by $316 billion by 2025

especially in urban centers. Countries like Nigeria and Kenya have seen sharp increases in female enrolment in tertiary institutions, particularly in STEM fields. This influx of educated women into the workforce is translating into more female-led startups, many of which are at the forefront of innovation.

The economic contributions of women entrepreneurs in Africa are staggering. According to McKinsey & Company, if women in Africa participated in the economy at the same rate as men, the continent’s GDP could increase by $316 billion by 2025. A 2021 AfDB report revealed that womenled micro, small, and medium-sized enterprises (MSMEs) played a vital role in cushioning the pandemic’s impact on the continent’s economy. Many women entrepreneurs pivoted their business models in response to the crisis, increasing e-commerce activity, developing health-related products, or venturing into agribusiness. These women-led businesses proved to be flexible and innovative in navigating turbulent times.

Challenges and Success Stories Changing the narrative

While the statistics paint an optimistic picture, female entrepreneurs in Africa

continue to face numerous barriers that hinder their full potential—unstable markets, infrastructural deficits, and deep-rooted patriarchy. Access to finance remains a significant hurdle.

A study by the International Finance Corporation (IFC) found that the financing gap for women entrepreneurs in Africa is as wide as $42 billion. Despite their proven capacity to manage and grow businesses, women often struggle to access formal financial services due to discriminatory lending practices, a lack of collateral, and entrenched socio-cultural biases. The same study pointed out that African women-owned businesses, especially in the formal sector, tend to be smaller and more informal than those owned by men, making it harder for them to scale and attract investors.

This challenge is exacerbated by lower levels of access to education and technical training in many African countries, especially in rural areas. Without proper training and mentorship, many women entrepreneurs remain confined to the informal economy, limiting their growth potential.

Additionally, the legal and regulatory environments in many African countries still disadvantage women. In nations where women lack equal property rights or access to land ownership, providing the collateral often required for business loans becomes exponentially harder. Despite recent improvements in some countries—such as Rwanda, which now ranks among the top nations globally in terms of gender parity— progress remains uneven across the continent.

Despite these challenges, significant progress continues to emerge. A growing number of successful African women are changing the narrative. Their businesses not only demonstrate immense potential but also serve as powerful examples of innovation and leadership in action.

Technology is proving to be a crucial enabler for female entrepreneurs across Africa. In Rwanda and South Africa, women are increasingly active in the fintech and agritech sectors, leveraging new technologies to enhance agricultural productivity, financial inclusion, and service delivery. Digital platforms, online programs, and e-commerce are giving women access to new markets and customers, allowing them to bypass traditional gatekeepers and scale their businesses. These literacy programs and tech incubators are gradually helping women acquire the skills necessary to succeed in the digital economy.

Take Rebecca Enonchong, a Cameroonian tech entrepreneur and CEO of AppsTech, for example. Enonchong has become a global figure for her role in championing the development of the African tech ecosystem, particularly for women. With her business operating in over 50 countries in sectors crucial for Africa’s future growth, her work has earned her numerous awards, including recognition among Forbes Africa’s “Most Powerful Women.”

In Nigeria, Folorunsho Alakija, the vice chair of Famfa Oil, one of Africa’s largest indigenous oil companies, exemplifies female entrepreneurship. Alakija’s story reflects the incredible heights women can achieve when given the opportunity to lead and innovate in traditionally male-dominated industries. Her diverse portfolio, ranging from oil to fashion, illustrates the expansive vision many female entrepreneurs in Africa possess.

More recently, women like Temie Giwa-Tubosun, founder of LifeBank in Nigeria, have gained international recognition for their game-changing innovations. LifeBank, a healthcare technology company, delivers blood and essential medical supplies to hospitals, significantly improving healthcare systems, especially in underresourced areas. Giwa-Tubosun’s use

of technology to address systemic healthcare challenges showcases how women entrepreneurs can disrupt industries while contributing to societal development.

To address these barriers, governments, international organisations, and financial institutions have begun implementing initiatives to level the playing field. The African Union’s “African Women’s Decade 2020-2030” initiative focusses on enhancing women entrepreneurs’ access to financing and resources. Similarly, platforms like the African Women’s Leadership Fund (AWLF), launched by the United Nations Economic Commission for Africa, aim to provide women with capital and business development services to scale their businesses.

Initiatives such as the Women Entrepreneurs Finance Initiative (We-Fi), backed by the World Bank and other global partners, have been instrumental in providing much-needed capital to female-led enterprises. Additionally, local organisations like Lionesses of Africa have fostered a community of female entrepreneurs, offering networking, mentorship, and access to investors.

Technology is proving to be a crucial enabler for female entrepreneurs across Africa. In Rwanda and South Africa, women are increasingly active in the fintech and agritech sectors, leveraging new technologies to enhance agricultural productivity, financial inclusion, and service delivery

The Future of Women-Led Businesses in Africa

As we move forward, the conversation around women-led businesses in Africa must expand beyond empowerment to genuine inclusion. Policymakers, financial institutions, and the private sector must collaborate to create environments that support the growth and sustainability of women-owned businesses.

The representation of women in leadership positions across industries is crucial for accelerating progress. A report by McKinsey found that companies in Africa with genderdiverse leadership are 21% more likely to outperform their competitors. When women hold decision-making power, they not only create more opportunities for other women but also drive better business outcomes.

Efforts like Kenya’s 30% public procurement rule—which mandates that 30% of government contracts go to women, youth, and persons with disabilities—are steps in the right direction. These policies level the playing field and actively empower women to compete in larger, more lucrative markets.

On the private sector front, more inclusive investment strategies must be adopted. Venture capital firms and angel investors need to re-evaluate

how they assess risk in female-led enterprises. Women entrepreneurs in Africa represent a sound investment. A Boston Consulting Group study found that women-owned startups generate 78% more revenue per dollar of funding compared to their male counterparts. Despite this, they receive far less capital—an imbalance that requires urgent redress.

At the grassroots level, mentorship and training programs are vital. Many women entrepreneurs, particularly in rural or semi-urban areas, have the vision and drive but lack the business acumen or resources to scale their enterprises. Initiatives like the African Women’s Development Fund (AWDF) and programs run by She Leads Africa are empowering these women with the tools and knowledge necessary to succeed in competitive markets.

As Africa continues to evolve into a global economic powerhouse, the role of female entrepreneurs will be indispensable. The world will need to pay attention not just to its resources but to the women at the helm of its businesses. The vast untapped potential, both in human and natural resources, is matched only by the determination and ingenuity of women who understand that economic power is about creating systems, cultures, and futures that are inclusive, and the redefinition of business leadership for the next generation.

As Africa continues to evolve into a global economic powerhouse, the role of female entrepreneurs will be indispensable. The world will need to pay attention not just to its resources but to the women at the helm of its businesses