The Asantehene, Otumfuo Osei Tutu II, has called for a new economic vision for Africa, urging governments and investors to move beyond the continent’s traditional dependence on raw material exports and focus on value addition, skills development and productive investment.
Speaking at the maiden Africa Business Investment Summit in Washington D.C., Otumfuo said Africa was entering a critical period as technological advancement, changing global supply chains and new patterns of production create opportunities for the continent.
He argued that Africa should no longer be viewed simply as a continent of future potential but as an emerging force in the global economy.
“Africa must no longer be regarded merely as a continent of future potential. Africa is already becoming a central part of the future global economy, and those who understand this will position themselves advantageously.”
Africa must add value to its resources
The Asantehene said Africa’s economic transformation should be built around its existing strengths, including its youthful population, natural resources, growing consumer markets, entrepreneurial talent and expanding technological capabilities.
He cautioned against maintaining an economic model in which African countries export raw materials while other countries process them and capture a larger share of the resulting value.
“A new Africa must therefore be built on value addition. Our ambition must not simply be to export more, but to produce more value before we export.”
Otumfuo called for increased investment in local industries, technical expertise and institutions capable of strengthening productive capacity across African economies.
AfCFTA can unlock greater opportunities
The Asantehene also stressed the importance of deeper economic integration among African countries.
He highlighted the African Continental Free Trade Area (AfCFTA) as a major opportunity to create a more interconnected African market, allowing businesses to operate at greater scale and making the continent more attractive to investors.
According to him, stronger economic integration would help African businesses access larger markets while creating opportunities for industrial expansion and job creation.
Youth are Africa’s greatest resource
Otumfuo placed Africa’s rapidly growing youth population at the centre of his vision for the continent’s economic future.
He described Africa’s people as its most valuable resource, stressing the need for deliberate investment in education, technical skills, innovation and industry.
“The continent’s greatest resource is not found beneath the soil. It is found in its people.”
He warned that failure to create meaningful economic opportunities for young Africans could increase frustration and social pressures.
However, he said, if governments and investors successfully equip and employ the continent’s youth, Africa could unlock one of the world’s most powerful productive forces.
“If we fail to create opportunities for them, we will create frustration. If we succeed, we will unleash one of the world’s greatest productive forces.”
The Asantehene’s call comes as African countries seek to attract greater investment, expand domestic industries and position the continent to benefit from technological change and shifting global production patterns.
