MTN Chairman Mcebisi Jonas Says Africa Needs Independent Institutions for Growth

MTN Group chairman Mcebisi Jonas warned that Africa’s long‑term economic redemption depends on strong, independent public institutions. Speaking on the debut of the Y’ello Chair vodcast, he said weak governance deters investment and undermines economic inclusion, urging governments to “hardwire democracy, economic growth and economic inclusion.”

Jonas cited South Africa’s experience, noting that protecting the judiciary and electoral commissions helped avoid a systemic crisis. He linked institutional credibility to investor confidence, pointing to the UNCTAD World Investment Report which showed foreign direct investment to Africa rising to $97 billion in 2024, increasing the continent’s share of global inflows to 6 %. Jonas cautioned that capital flows remain volatile and flee at any sign of political interference, calling for constant vigilance to keep institutions independent.

He concluded that sustainable development in Africa requires predictable, rule‑of‑law‑based institutions rather than short‑term political shortcuts.