African economies need stronger domestic investment, deeper financial markets and greater capacity to retain value within the continent if rising investment interest is to translate into sustained industrial development, Dangote Group President and Chief Executive Aliko Dangote told business and political leaders at Unstoppable Africa 2026.
Speaking at the Global Africa Business Initiative (GABI) forum in New York on 20–21 September, Dangote argued that African capital should play a greater role in financing the continent’s productive capacity. He pointed to the experience of Asian economies and said Africa would face difficulties building comparable industrial strength if substantial amounts of its capital continued to be invested outside the continent.
“ We must believe in our continent,” Dangote said, while urging African businesses to remain committed to building large-scale enterprises despite the practical difficulties involved. His comments placed capital retention alongside industrialisation, trade integration and domestic ownership as central themes of the forum.
The argument comes as African governments and businesses seek to increase the amount of value generated from the continent’s natural resources, manufacturing capacity, services and increasingly digital economies. The issue, however, is not simply whether capital leaves Africa. International capital remains important to infrastructure, industrial projects and business expansion, particularly where domestic savings and financial markets cannot provide sufficient long-term funding.
The challenge discussed at the forum was therefore broader: creating financial and institutional conditions that allow African savings and international investment to support productive activity, rather than limiting the continent’s role to the export of commodities and consumption of imported goods.
The African Continental Free Trade Area was repeatedly identified as an important part of that equation. By creating a larger integrated market, AfCFTA is intended to reduce barriers to intra-African trade and provide businesses with greater scope to expand across national borders. For capital-intensive industries, the size and predictability of the market can be important considerations when assessing whether new manufacturing capacity is commercially viable.
Zeine Zeidane, the IMF’s Director of the African Department, highlighted the importance of structural reforms and stronger domestic financial markets in attracting private investment. He assumed responsibility for the IMF’s African Department in 2026 and oversees the institution’s engagement with 45 countries in sub-Saharan Africa.
The forum also reflected a broader understanding of African economic transformation, extending beyond heavy industry. More than 3,000 participants, including heads of state, business leaders, investors, entrepreneurs and policymakers, attended the event, according to GABI. Its programme covered trade, energy, technology, creative industries and sport.
South Africa’s Business Initiative for Impact (SABII), which was launched in 2025 as a national platform linked to GABI, was presented during the forum. The initiative brings together government, business, finance and development partners around areas including energy transition, digitisation, human capital and food systems.
Technology was another significant strand of the discussions. Flutterwave chief executive Olugbenga Agboola pointed to digital payments and artificial intelligence as tools that could enable African businesses to reach customers across borders. Signvrse founder and chief executive Elly Savatia, meanwhile, discussed the use of technology to expand access for people who are deaf or hard of hearing. According to the UN’s account of the forum, Signvrse has received US$2 million from Google to develop a publicly documented African sign-language dataset.
The creative economy provided another example of how African enterprises are seeking to connect domestic production with international markets. Afreximbank’s CANEX programme has facilitated links between African fashion businesses and buyers through platforms including Tranoï and Coterie. The programme has recorded more than 120 offtake agreements since 2022, while Zimbabwean fashion brand Vanu Vanwerk has expanded its distribution to more than 50 stores globally, according to the UN.
The forum also included a partnership between Namibian President Netumbo Nandi-Ndaitwah’s foundation and the Queens of the Continent Foundation, focused on opportunities for young people, particularly girls and young women.
Closing the gathering, UN Deputy Secretary-General Amina J. Mohammed argued that artificial intelligence could create new avenues for African economies, provided the continent has the infrastructure, investment and opportunities needed to deploy its capabilities at scale. Her remarks formed part of a wider discussion about ensuring that technological change is shaped by African priorities rather than simply consumed as an external product.
The discussion in New York therefore extended beyond a call to keep African money on the continent. It raised a more complex question about how African economies can mobilise domestic savings, attract external capital on productive terms, strengthen regional markets and build enterprises capable of capturing more value across supply chains. Turning that ambition into measurable investment, employment and industrial capacity will depend on implementation at national and regional level.
