African leaders have called for a major rethink of how the continent finances development, manages natural resources and positions itself within the global economy, saying Africa must strengthen economic sovereignty and reduce dependence on fragmented financing systems and raw commodity exports. Speaking during the ongoing African Development Bank Group (AfDB) Annual Meetings 2026 in Brazzaville, leaders stressed the need to strengthen domestic financial systems, mobilise local capital, accelerate industrialisation and ensure Africa’s natural resources generate more value within the continent. ALSO READ: Africa doesn’t lack capital for its development, says AfDB President During a presidential panel, Denis Sassou Nguesso said Africa’s development agenda can no longer rely on limited or disconnected financing approaches. “The financing of Africa’s development now requires more ambitious approaches, grounded in a sustainable and coherent dynamic,” he said. Sassou Nguesso argued that development financing should become a tool for sovereignty, social justice and shared prosperity, while also calling for reforms to the global financial architecture to make it more responsive to African realities. He said Africa should seek greater control over how its wealth, natural resources and financial systems are managed. The Congolese leader pointed to plans to use Congo’s reserves of potash, phosphate and natural gas to produce fertilisers locally for African and international markets. He also highlighted investments in roads, railways, bridges and ports aimed at boosting regional trade. ALSO READ: Corruption, distrust are costing Africa billions in tax revenue Faustin-Archange Touadéra said African countries emerging from conflict still face difficulties accessing long-term development financing despite possessing significant natural resources and economic potential. “We have moved from crisis management to the real questions of development. Sectors such as mining, agriculture, forestry and biodiversity still hold major untapped opportunities for investors,” he said. Touadéra also stressed the urgency of expanding energy access across the continent, saying even small-scale solar solutions could improve the lives of millions without reliable electricity. Meanwhile, Brice Oligui Nguema said Gabon is positioning environmental protection as part of its long-term economic strategy, noting that the country remains heavily forested and has one of Africa’s lowest deforestation rates. “We have enormous biodiversity and vast forest resources, but these resources must also contribute to the development of our economies,” he said. Nguema said Gabon plans to expand mining, transport and energy infrastructure, including a deep-water port, railway projects and hydroelectric investments aimed at supporting industrialisation and mineral processing. He added that peace and political stability remain essential for attracting investors and sustaining development efforts across the continent. Across the discussions, leaders repeatedly emphasised that Africa’s future growth will depend not only on the availability of capital, but also on the continent’s ability to build institutions, financial systems and partnerships capable of directing resources into productive sectors. Speaking during the same panel, Sidi Ould Tah said Africa already possesses significant financial potential but lacks the structures needed to channel capital into transformative projects. “Africa still struggles to attract sufficient large-scale investment because many projects remain difficult to finance and investment environments continue to carry high-risk perceptions,” he said. Tah added that the AfDB is entering “a new phase” in which it will increasingly act as a platform bringing together governments, private investors and development partners to mobilise financing at scale. Leaders also linked economic sovereignty to industrialisation and regional infrastructure development, arguing that Africa must stop exporting raw materials without local transformation.
