President and CEO of Dangote Group Aliko Dangote called on Africa to turn its vast resources into manufacturing power, jobs and stronger regional trade, as political and business leaders gathered at the Alamein Africa Forum in Egypt’s Al Alamein on Saturday.
“Africa cannot respond to this new environment with an old economic playbook. The question before us is larger than how Africa can achieve greater growth. We must ask what kind of growth can give Africa greater economic agency in a world that is becoming more fragmented, more competitive, and less predictable,” Dangote said.
“For decades, we have celebrated GDP growth as an important measure of progress, but growth alone does not tell us enough,” he added.
Dangote said unlocking Africa’s economic potential would require countries to work more closely together and turn the continent’s size into an economic advantage.
“Only 16 of Africa’s 54 countries source more than half of one percent of their intermediate goods from within Africa. More than half of the continent’s imports and exports remain tied to just five economies, all outside Africa. We therefore have neighbouring economies without yet having sufficiently connected production systems,” Dangote explained.
“This fragmentation imposes what I would call an African scale penalty. Businesses remain smaller than they need to be. Production costs remain very high, investment decisions become more difficult, and our collective market does not translate into collective economic power,” he continued.
Africa remains heavily reliant on raw-material exports, leaving much of its manufacturing and value-added potential untapped.
Primary goods accounted for 76.7 percent of Africa’s merchandise exports in 2025, while the continent imported nearly four times more manufactured goods than it exported, according to UN trade data.
The forum brought together governments, businesses and financial institutions to turn regional plans into investment and accelerate economic integration, including through the African Continental Free Trade Area.
Source: Viory
