World Trade Organization Director-General Dr. Ngozi Okonjo-Iweala has urged African governments to accelerate investments in artificial intelligence, renewable energy and critical mineral processing to strengthen their economies against global shocks and drive long-term growth.
Speaking at the 7th Africa Emerging Markets Forum, Okonjo-Iweala said Africa must position itself at the heart of the next global economic transformation or risk falling further behind.
She warned that the continent can no longer depend on exporting raw commodities while other regions generate wealth through technology, manufacturing and innovation.
Although African economies are gradually recovering from the effects of the COVID-19 pandemic, inflation, supply chain disruptions and geopolitical conflicts, she said current growth levels remain insufficient to create the jobs, industries and prosperity needed for the continent’s rapidly growing population.
Okonjo-Iweala stressed that the future belongs to economies that embrace innovation, create value and invest in human capital.
She called on governments to prioritise investments in digital infrastructure, education, research, artificial intelligence and renewable energy to improve competitiveness.
The WTO chief also urged African countries to move beyond exporting raw minerals by developing industries that process and add value to the continent’s vast deposits of lithium, cobalt, manganese, graphite and rare earth minerals.
According to her, Africa’s rich reserves of strategic minerals present a rare opportunity to become a major player in the global green and digital economy if governments implement policies that attract investment and promote local manufacturing.
Okonjo-Iweala further warned that rising public debt continues to threaten economic transformation and urged governments to maintain fiscal discipline while directing limited resources toward productive investments capable of delivering sustainable growth.
Her remarks come as countries around the world intensify competition in artificial intelligence and seek secure access to the critical minerals required for electric vehicles, batteries, semiconductors and other advanced technologies expected to shape the global economy in the coming decades.
Despite holding some of the world’s largest reserves of these minerals, Africa continues to capture only a small share of their value because most are exported without significant local processing.
Also speaking at the forum, Governor of the Central Bank of Nigeria, Olayemi Cardoso, said macroeconomic stability remains essential for attracting investment and sustaining economic growth.
He said the apex bank would continue implementing policies aimed at maintaining price stability, strengthening investor confidence and protecting Nigeria’s financial system despite growing global economic uncertainty.
The forum, themed “Building Resilience Amidst Geoeconomic Uncertainties,” brought together policymakers, central bankers, economists, investors and development partners to discuss strategies for helping African economies navigate geopolitical tensions, trade fragmentation and financial volatility while accelerating sustainable development.
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