Dangote Urges Africa to Keep Capital at Home as Industrialisation Takes Focus

Aliko Dangote has urged Africa to retain and invest its capital on the continent, arguing that stronger domestic investment is essential to the region’s industrial future.

Dangote, President and CEO of Dangote Group, made the call at Unstoppable Africa 2026, a two-day forum held in New York. The gathering brought together more than 3,000 African and global business leaders and heads of state to discuss industrialisation, investment, technology and economic partnerships.

He said African capital should support the continent’s own industrial development instead of flowing to foreign banks and markets. Dangote also stressed the importance of the African Continental Free Trade Area (AfCFTA) in creating the scale needed for major industrial projects.

“We must believe in our continent,” Dangote said, while reflecting on the challenges involved in building major organisations in Africa. “Once you start, it gets easier. But the more you don’t do anything, it becomes difficult.”

Investment and financial markets

Discussions at the forum also examined how African economies can attract more private investment. Eine Zeidane, Director of the African Department at the International Monetary Fund, highlighted structural reforms, stronger domestic financial markets and wider African markets as factors that could help draw investment.

The South African Business Initiative for Impact brought the country’s business, investment and partnership proposition into sharper focus during the event.

Other sessions considered the role of Africa’s young and increasingly connected population in expanding digital payments, artificial intelligence and other technology-driven services. Olugbenga Agboola, CEO of Flutterwave, highlighted the opportunities emerging from these developments.

Technology and inclusion

Elly Savatia, Founder and CEO of Signverse, was among the speakers discussing technology-enabled inclusion. Signverse has received U$2 million in funding from Google and developed what the forum described as the largest publicly documented dataset for an African sign language to date.

The organisation is building a framework intended to expand to multiple local sign languages, according to the information presented at the forum.

Artificial intelligence was also a major theme in the closing discussion. Amina J. Mohammed, UN Deputy Secretary-General, said Africa had an opportunity to use AI to create new routes to growth and innovation.

“We are entering a new age of technology and AI that will fundamentally shape the future, and Africa has a tremendous opportunity to leapfrog,” Mohammed said. “Just as industrialisation transformed economies and created new forms of work, AI can open new pathways for growth, innovation and opportunity. Africa has the talent and the ideas.”

She added that the continent needed opportunity, infrastructure and investment to deploy its capabilities at scale and shape its own AI development.

Youth and creative industries

In a youth empowerment initiative, the Netumbo Nandi-Ndaitwah Foundation and the Queens of the Continent Foundation signed a partnership agreement. The partnership will explore support for young people in Namibia, with particular attention to girls and young women.

The forum also highlighted the role of the creative economy in expanding African commercial opportunities. Khanyi Mashimbiye, Manager of Creatives at Afreximbank, said the Afreximbank CANEX programme had helped connect African fashion brands with international buyers through Tranoï in Paris and Japan, and Coterie in New York.

Since 2022, the initiative has secured more than 120 offtake agreements, while Zimbabwean brand Vanu Vanwerk is reported to be selling in more than 50 stores globally.

The discussions concluded with an emphasis on turning investment momentum into initiatives capable of delivering growth, jobs and lasting economic value across Africa.