At the second edition of the Global Africa Forum (GAF), held on the sidelines of the 79th United Nations General Assembly (UNGA), a strong call to action was made to Global Africans to refocus their investment portfolios on the African continent. The aim is to support the efforts to address Africa’s critical infrastructure deficits, which continue to impede the continent’s development.
The event, organized by the Africa Prosperity Network (APN) in collaboration with the African American Institute (AAI), attracted a diverse mix of business leaders, policymakers, and thought leaders from around the world. The forum explored the theme: “Mobilising Global Africa Investments to Address Africa’s Infrastructure Financing Deficit.”
In an opening address delivered on his behalf by APN board member Kwaku Sakyi Addo, Gabby Otchere-Darko, the Executive Chairman of APN, underscored the need for the private sector to take a leading role in financing Africa’s infrastructure development. He pointed to the reliance on government funding as unsustainable and called for a shift towards private sector-led investments in critical sectors such as transportation, aviation, and maritime connectivity.
“Private sector involvement is key to building roads, railroads, bridges, and improving aviation and maritime links between African countries,” said Otchere-Darko. He highlighted the significant remittances from the African diaspora, which in 2023 amounted to $54 billion, outpacing Foreign Direct Investment (FDI) in Sub-Saharan Africa by 1.5 times. He noted that remittances to Ghana reached $4.6 billion, second only to Nigeria’s $19.5 billion. In a lighter moment, he added, “But our jollof outperformed theirs.”
Otchere-Darko further emphasized the importance of recreating a modern transatlantic bridge between Africa and the Caribbean, not only to boost trade and tourism but also to heal the historical trauma shared between the two regions. He called on Global Africans to seize the opportunities presented by the African Continental Free Trade Area (AfCFTA) and the Africa Prosperity Network (APN) to unlock the continent’s full potential for economic growth and global influence.
Prominent figures who contributed to the discussions included:
- Oliver Alawuba, Group Managing Director of United Bank for Africa (UBA) Plc
- Boris Kodjoe, Actor and Co-founder of Full Circle Africa
- Thierno Habib Hann, CEO of Shelter Afrique
- Olakunle Williams, CEO of Tetracore Energy
- Kwabena Nyarko, CEO of Hospital Infrastructure Group
These leaders shared insights from their experiences in advancing African development. They agreed that mobilizing private capital is essential for enabling governments and institutions on the continent to fast-track large-scale infrastructure projects, particularly in housing, urban development, and transportation.
A key highlight of the Forum was the announcement of the 2025 Africa Prosperity Dialogues (APD 2025), scheduled to take place in Accra, Ghana, from 30 January to 1 February 2025. Jointly launched by Kofi Appenteng, President and CEO of AAI, and Fatima of BADEA, the dialogues will focus on the theme “Delivering Africa’s Prosperity Through Infrastructure: Invest, Integrate, Connect.” APD 2025 is expected to draw over 1,000 participants from across Africa.
Speaking during the fireside chat and panel discussions, participants explored a range of topics, including “Shaping Africa’s Future: Learning from Experience” and “Connecting Skills, Technology, and Financial Investments of Global Africans to Support Africa’s Infrastructure.”
Kofi Appenteng, in his closing remarks, reiterated the central role infrastructure plays in Africa’s development, not only in transportation and energy but also in digital connectivity. He emphasized that the infrastructure built today will lay the foundation for a sustainable and prosperous future for Africa.
Appenteng also stressed the need for economic sovereignty and the importance of African nations having the agency to define their own development pathways. He concluded by calling for stronger collaborations between governments, investors, and the Global African community to realize the continent’s shared vision of growth and integration.
With the stage set for the 2025 Africa Prosperity Dialogues, the Global Africa Forum has reinforced the call for Global Africans to reimagine the future of the continent through strategic investments that will bridge Africa’s infrastructure gap, unlock new opportunities, and position the continent as a key player on the global stage.
