Africa at Threshold of Unprecedented Growth, Potential, Says Okiti

The Convener, Africa Business Convention (ABC), Dr. Ogho Okiti, has said Africa stands at the threshold of an era of unprecedented growth and potential.
Okiti, who said this in his opening speech at the ABC 2025 conference held in Lagos, which attracted participants who were business leaders, policymakers, entrepreneurs, and visionaries from across Africa and beyond, noted that, with a population of over 1.4 billion people, the continent remains home to one of the youngest and fastest-growing workforces in the world

“For businesses to thrive, we need sound policies, regulatory reforms, and visionary leadership from our governments. Public-private collaboration is no longer optional – it is imperative. Governments across Africa must continue to work closely with businesses to foster a conducive environment for entrepreneurship, attract foreign direct investment, and strengthen regional integration under the AfCFTA framework.

“This is our time. This is the moment to shape Africa’s business landscape, influence policies, and create lasting economic impact. We cannot afford to wait for external forces to dictate our destiny. Instead, we must take ownership, leverage our collective strength, and drive the change we seek. Africa’s future is not a distant dream – it is unfolding right now. And it is in our hands,” he said.
According to Okiti, with the theme, ‘Africa Invest’, it was to remind participants of the boundless opportunities in the continent.

“Africa stands at the threshold of an era of unprecedented growth and potential. With a population of over 1.4 billion people, our continent is home to one of the youngest and fastest-growing workforces in the world.
“This demographic advantage, coupled with our abundant natural resources, positions us as a formidable player in the global economy. However, the journey to prosperity demands deliberate actions, strategic investments, and unwavering commitment from all stakeholders – governments, businesses, investors, and development partners alike,” he said.

Okiti, pointed out that, “at the core of our mission is a shared desire to drive growth in Africa, scale businesses, and engage with governments to support the Africa Continental Free Trade Area (AfCFTA).
“The AfCFTA, the largest trade bloc in the world by the number of participating nations, presents a transformative opportunity to eliminate barriers to trade, increase intra-African commerce, and bolster industrialisation. But to unlock its full potential, we must act with urgency, resolve, and unity.
“A thriving Africa depends on the success of its businesses—small, medium, and large. It is through business that innovation flourishes, jobs are created, and economic resilience is built.

“But for African businesses to scale and compete on a global stage, we must address key constraints: access to capital, regulatory bottlenecks, inadequate infrastructure, and skills development.

“This convention will explore solutions to these challenges across our six thematic streams: jobs, economy and trade; agriculture and food security; banking, investments and capital; power, infrastructure and energy; fintech, innovation and technology; and environmental, social and governance (ESG). Each of these areas represents a vital pillar for sustainable economic growth and development.

“Our goal is to facilitate tangible business opportunities, policy recommendations, and investment commitments that will accelerate growth across key sectors.

“We will engage with policymakers, central bank governors, ministers of trade and investment, and other key government officials to address pressing policy issues that affect business growth and economic expansion. Our collective voice as the African business community must be heard, and our shared commitment must drive action.

“Africa’s development trajectory will be determined by our ability to attract and mobilise investment at scale. The past few years have been challenging, with economic shocks from the COVID-19 pandemic, global financial constraints, and geopolitical tensions affecting capital flows into the continent. However, despite these headwinds, there remains a strong case for Africa as the last frontier of global economic development.”