The African Export-Import Bank (Afreximbank) has called for improved investment in manufacturing and infrastructure in Africa, saying such will unlock the continent’s economic potentials.
In an X post on Friday, Afreximbank noted that Africa’s vast natural wealth — from minerals and oil to agriculture and human capital — has long been a key driver of global supply chains.
However, the continent generates minimal local value by exporting much of its resources in raw form.
The bank emphasized the urgent need for Africa to shift from a resource-based economy to an industrial powerhouse.
The bank outlined key priorities to achieve industrialization in the continent:
Afreximbank stressed that Africa’s economic sovereignty depends on capturing more value within its borders.
Instead of exporting raw materials, the continent must focus on value-added production — transforming commodities into finished goods for domestic, regional, and global markets.
To achieve this, the bank called for targeted investments in:
By prioritizing industrialization and reducing external dependencies, Afreximbank argued that Africa can transition from being a supplier of raw materials to a major player in the global economy.
“Africa’s prosperity depends on its ability to own its value chains and retain the wealth generated from its resources. By leveraging industrialization, trade integration, and strategic investments, the continent can rewrite the narrative—one where its wealth works for its people, not just for external beneficiaries.”
Afreximbank noted that it is at the forefront of Africa’s economic transformation, “providing the financial backbone for industrialization, trade expansion, and value chain development.”
The bank’s key initiatives include: