Africa has the potential to reshape global trade and bolster economic resilience, if it moves beyond commodity dependence toward value-added production and deeper integration into global markets, according to Ngozi Okonjo-Iweala, Director-General of the World Trade Organization.
Delivering the 2025 Mattei Lecture at the World Bank’s Africa Growth and Opportunity–Research in Action (AGORA) Conference in Italy, Okonjo-Iweala emphasized that Africa’s demographic dynamism, rising middle class, abundant minerals, and renewable energy resources position the continent as a key driver of future growth.
“Successfully leveraging Africa’s strengths is not just about improving lives on the continent. It is about creating a more resilient global economy, reducing overdependence on limited supply chains, and fostering sustainable interdependence,” she said.
Okonjo-Iweala highlighted Africa’s growing exports, noting that goods exports are projected to grow by 5.3% this year, while digitally delivered services are surging at 15% annually. She pointed to successful initiatives in manufacturing, fintech, creative industries, and green mineral processing as evidence of Africa’s rising competitiveness.
Despite these opportunities, challenges remain. Africa still faces some of the world’s highest trade costs, slow regional integration, and limited value addition. The African Continental Free Trade Area (AfCFTA) offers a solution, but its implementation must be accelerated to unlock the continent’s full potential.
Okonjo-Iweala called for strategic partnerships with Europe and other regions, advocating a modernized “Mattei formula” that prioritizes investment in African value chains and green industries, rather than mere resource extraction. She stressed that timely, delivery-oriented infrastructure and investment are essential to build trust and generate sustainable jobs.
“Europe and other global partners have a strong self-interest in a prosperous, integrated Africa. More trade with more partners diminishes the ability of any single country to weaponize goods or markets,” she noted.
The lecture, captured in the World Bank Policy Research Working Paper 11295, frames Africa as a central player in a multipolar global economy, capable of driving growth, innovation, and resilience in the face of global economic uncertainties.