Africa economic potential discussed at GABI conference

At the 2026 Global Africa Business Initiative (GABI) conference, themed ‘Promoting Business, Scaling Economies, Shaping the Future’, over 3,000 policymakers, business leaders, and investors gathered to discuss sustainable economic development for the continent.

African Union Commission Chairperson Mahmoud Ali Youssouf highlighted Africa's immense potential, driven by a young workforce, a market of approximately 1.5 billion people, and abundant clean energy and strategic mineral resources essential for the global energy transition and high-tech industries. Experts suggest the region could become a new driver of global economic growth.

However, significant challenges remain. Youssouf emphasized that peace and stability are prerequisites for development, noting that ongoing conflicts in regions such as the Sahel, Libya, Sudan, South Sudan, Somalia, and the Democratic Republic of the Congo continue to hinder progress. Other obstacles include political instability, public debt burdens, poverty, and migration.