Africa’s economic future will depend on its ability to produce more goods locally, build its own digital infrastructure and mobilise investment in reliable energy, three entrepreneurs driving investments across the continent have said.
Hardy Pemhiwa, president and chief executive of Cassava Technologies; Aliko Dangote, founder and president of the Dangote Group; and Linda Mabhena-Olagunju, founder of renewable energy company DLO, say industrial production, artificial intelligence (AI) and clean energy present opportunities to create jobs and retain more economic value within Africa.
Speaking in separate interviews with the BBC’s Africa Enterprise programme, the entrepreneurs highlighted the need for African-led investment, stronger infrastructure and policies that give businesses the confidence to invest.
Africa accounts for just 1% of the global data centre population, despite the continent having an economy valued at approximately $3.5 trillion.
Pemhiwa said Cassava Technologies is developing its digital infrastructure and AI computing ambitions around five priority markets: South Africa, Kenya, Nigeria, Egypt and Morocco. These are intended to serve as regional hubs for neighbouring countries.
“If we don't have our own AI compute solutions and our own digital infrastructure on the continent, we are repeating exactly the same pattern that we've seen over the years. You know, produce coffee, sell the green beans, go and put others to work. We've done it with cocoa. We've done it with minerals. The data sits here with us. It doesn't have to be exported,” Pemhiwa said.
He sees locally generated data as an opportunity to build AI applications for industries such as mining and healthcare, where years of operational information could support solutions tailored to African needs.
AI could also expand access to education by reducing language barriers that prevent some learners from fully participating in technical subjects.
“I think we're talking about a 100x impact compared to what mobile money did,” Pemhiwa said, comparing AI's potential with the expansion of financial access through mobile money.
Dangote said Africa must turn its economic potential into productive industries capable of creating jobs and reducing dependence on imported products.
“You have to put that potential into reality. You have to. But the only way that you are going to do that is by us Africans to drive it. Nobody, and I repeat, nobody will come and drive it for us,” he said.
His comments come as his flagship refinery in Lagos, Nigeria, which began operations in 2024, targets an expansion of its processing capacity from 700,000 barrels of oil per day to double that level by 2029.
The refinery is expected to meet a substantial share of regional fuel demand, demonstrating the scale of investment required to reduce reliance on imported refined petroleum products.
Dangote linked industrial production directly to the continent’s ability to create employment and prosperity, particularly for its growing population.
