Why “Africa Grow” Is More Than a Tagline – It’s a Blueprint for the Continent
The 2026 Africa Business Convention (ABC) rallied under the theme “Africa Grow.”strong> The agenda went beyond rhetoric, spotlighting fiscal stability, trade integration, food security, public‑private partnerships and innovation as the pillars of the next growth wave.
From Agreements to Action: AfCFTA Moves From Paper to Market
Wamkele Mene, Secretary‑General of the African Continental Free Trade Area (AfCFTA), warned that the continent is shifting “from negotiation to implementation.” With 50 countries having ratified the agreement, intra‑African trade hit $220 billion last year, driven largely by the private sector. Compact‑ and medium‑sized enterprises now account for roughly half of Africa’s GDP, positioning them at the heart of this expansion.
“Trade is not done by governments, It’s the private sector that drives regional and continental trade.” – Mene
Real‑world impact is already visible: Nigeria’s export basket now lists other African nations as its largest destination, underscoring the growing regional integration.
Growth Beyond GDP: Removing Everyday Friction
Panelist Modupe Odele argued that true growth is measured by how little friction ordinary Africans face. She highlighted the Africa Visa Openness Index, which reveals that only 28 % of intra‑African travel is visa‑free, a clear barrier to movement and trade.
“Growth, for me, is when the average person doesn’t need to understand economic jargon. They just know that if I sell sachet water in Lagos, I can sell it in Bobo‑Dioulasso without hassle, get paid, and move across borders with ease.” – Odele
The consensus: without harmonised markets and seamless movement of people and capital, Africa’s growth story remains incomplete.
Culture as an Economic Engine
Lily’s Global Services CEO Lilian Olubi showed how the creative economy can power growth. Her debut film Osamẹ—detailing the 1897 British invasion of the Benin Kingdom—has screened at Cannes and won Best Narrative Feature at the Silicon Valley African Film Festival.
“Africans are innately gifted storytellers. Our stories create jobs, influence culture and shape global perceptions of the continent.” – Olubi
Olubi too warned of structural weaknesses: under‑capitalisation, weak intellectual‑property protection and dependence on foreign distribution platforms threaten the sector’s sustainability.
The Power of Patience: Building Legacy Businesses
Business Front CEO Muyiwa Matiluko stressed that longevity, not rapid exits, fuels lasting value. His research on over 100 African firms surviving 50 + years identified three drivers: strategic location, mass‑market service and time.
“While rapid‑growth startups capture headlines, it’s these patiently built businesses that create lasting value across generations.” – Matiluko
He summed it up: “Time is more important than speed. Legacy businesses understand that.”
Infrastructure Before Hype: Power Is the Bedrock of Digital Growth
Panelists warned that technology cannot outrun infrastructure. Data centres need reliable power; in Lagos, gas‑backed generators bridge grid instability, but much of the continent lacks this safety net.
“If power is not available, none of this critical infrastructure works.” – Dr Krishnan Ranganath, Africa Data Centres
Ranganath added that the challenge is not a shortage of capital but a shortage of bankable projects: “There is capital available, but the pipeline of investable, well‑structured projects is missing.”
A Cautious Path to AI: Grow at Africa’s Own Pace
When discussing artificial intelligence, speakers urged caution. Importing Western timelines could cause “you run too fast, you fall and break your nose.”
With a youthful population and large labour force, unchecked AI adoption could deepen inequality unless paired with skills development, job creation and robust infrastructure.
“What we have is a golden moment for Africa, but if we don’t fix the fundamentals — power, transmission and education — we will lose it.” – Dr Ranganath
Future Trends Shaping “Africa Grow”
- Deeper AfCFTA implementation: Expect more cross‑border supply‑chain integration, especially for SMEs.
- Visa‑free corridors: Regional governments are likely to negotiate broader visa‑free agreements to unlock intra‑African mobility.
- Creative‑industry financing: New funds targeting intellectual‑property assets could bridge the capital gap in the film and music sectors.
- Infrastructure‑backed digital hubs: Governments and private investors will prioritize bankable data‑centre projects with reliable power sources.
- Localized AI ecosystems: African universities and tech hubs will develop home‑grown AI models tailored to local languages and market needs.
FAQ
- What is AfCFTA?
- AfCFTA is the African Continental Free Trade Area, a trade agreement signed by 50 African nations to boost intra‑continental commerce.
- Why is infrastructure critical for digital growth?
- Data centres and AI platforms require stable electricity; without reliable power, these technologies cannot operate effectively.
- How can creative industries drive economic growth?
- By producing culturally authentic content that creates jobs, attracts tourism, and positions Africa in global media markets.
- What does “growth beyond GDP” mean?
- It refers to improving everyday life—reducing friction in trade, travel, and access to services—rather than focusing solely on macro‑economic numbers.
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