Africa’s richest man, Aliko Dangote, has raised concerns about external forces undermining the continent’s economic progress, urging African leaders to prioritise stronger regional cooperation.
The founder and president of the Dangote Group made the remarks on Thursday during the Investing in Africa forum, held on the sidelines of the ongoing IMF-World Bank Spring Meetings in Washington, DC.
According to Dangote, Africa’s ability to achieve meaningful economic transformation is being hindered by foreign interests that do not necessarily align with the continent’s long-term development goals.
He emphasised the need for African countries to deepen regional integration, noting that a fragmented market structure continues to limit growth and investment opportunities across the continent.
Speaking on the prospects of the African Continental Free Trade Area (AfCFTA), Dangote expressed optimism but cautioned that its success depends heavily on the strength of regional markets.
“The Africa free trade will work, but it can only work when the regional markets work,” he stated.
Dangote further stressed that without functional and well-coordinated regional markets, efforts to create a single, unified African market would face significant challenges.
His comments come at a time when African leaders and global stakeholders are exploring ways to accelerate economic growth, boost intra-African trade, and reduce dependency on external markets.
The Investing in Africa forum forms part of broader discussions at the IMF-World Bank Spring Meetings, where policymakers, investors, and development partners are deliberating on strategies to address global economic uncertainties and support emerging markets.
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