Africa's $4 trillion capital base struggles to create jobs and foster industrial growth, report finds
via Punch Nigeria6 min read
A new report by the Africa Finance Corporation AFC reveals that Africa's growing capital base, estimated at over $4 trillion, is not translating into significant job creation or industrial growth. The 2026 State of Africa鈥檚 Infrastructure report, "The Africa We Build: From Capital to Systems," highlights that despite substantial expansion in domestic financial resources across banks, pension funds, insurance pools, and sovereign institutions, the continent faces high unemployment, weak industrialization, and infrastructure deficits. The report identifies a disconnect between capital availability and its real economic impact, noting that funds are not effectively channeled into productive sectors. Samaila Zubairu, President and Chief Executive Officer of AFC, stated that the core challenge is not access to capital but its deployment. Africa continues to export raw materials and import finished goods, thereby exporting jobs and importing inflation. The report argues that the issue is a failure of alignment, where existing capital, resources, and markets are not connected to create productive capacity and sustained employment. Financial systems often prioritize low-risk, short-term investments, leaving long-term capital unutilized in critical sectors like infrastructure and industry. The AFC also warns that reliance on external financing is becoming unreliable, emphasizing that Africa must increasingly depend on its own capital. The report calls for a strategic shift from extrac
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African players are expressing confidence in the continent's representatives at the 2026 FIFA World Cup in Mexico, Canada, and the United States, drawing inspiration from Morocco's semi-final achievement in Qatar 2022. The tournament's expansion to 48 teams means 10 African nations will participate: Algeria, Cape Verde, C么te d鈥橧voire, DR Congo, Egypt, Ghana, Morocco, Senegal, South Africa, and Tunisia. While no African nation has won the World Cup since 1930, Cameroon 1990, Senegal 2002, and Ghana 2010 reached the quarter-finals before Morocco set a new benchmark. Senegal forward Iliman Ndiaye and South Africa captain Ronwen Williams believe African teams can advance further. Williams stated that African football has seen immense improvement in leagues, CAF, the African Champions League, and AFCON, and that Morocco's performance instilled belief. Ndiaye emphasized a winning mindset, stating he wouldn't participate if not to win. Former Ghana midfielder Michael Essien also believes the expanded tournament improves Africa's chances of making history.
Must ReadThe Nigerian Senate has urged security agencies to intensify surveillance and enforcement against bandits and terrorists who display their criminal activities and financial gains on social media platforms, particularly TikTok. This resolution follows a motion by Senator Sunday Karimi concerning rising bandit attacks in Kogi West and other regions. Senator Natasha Akpoti-Uduaghan introduced an additional prayer for coordinated action by the Nigerian Police Force National Cybercrime Centre and other security agencies to track and arrest individuals using social media to publicize criminal operations. Akpoti-Uduaghan highlighted instances where armed groups flaunt ill-gotten wealth and conduct "giveaways" online, questioning why such overt digital footprints have not led to arrests. Senate President Godswill Akpabio described these actions as an affront to state authority and a deliberate attempt to undermine public confidence in the country's security architecture, emphasizing the need for improved coordination and real-time response to online intelligence, and accountability for arrests and prosecutions.
Seychelles and Eritrea have adopted Abbott鈥檚 Determine Antenatal Care Panel, a World Health Organization-prequalified integrated diagnostic test, to intensify their fight against mother-to-child transmission of HIV, syphilis, and hepatitis B. This integrated test allows for simultaneous screening of these three infections from a single finger-prick blood sample, providing results within minutes. The innovation aligns with WHO's goals for the triple elimination of these infections and is particularly beneficial in regions where pregnant women may have limited antenatal visits. The Determine ANC Panel is the first and only WHO prequalified rapid diagnostic test that includes a 4th-generation HIV test. Both Seychelles and Eritrea's Ministries of Health have highlighted the significance of this adoption, with Eritrea building on its previous success in eliminating mother-to-child transmission of HIV. Experts emphasize that without early diagnosis, syphilis and hepatitis B can lead to adverse pregnancy outcomes and long-term health complications. Dr. Andrew Mulwa, head of Kenya's National AIDS and STIs Control Programme, noted Kenya's updated national PMTCT guidelines to reflect triple elimination. Aziz Abdi, Abbott鈥檚 General Manager for Rapid Diagnostics in Central, East and West Africa, stated that the test empowers healthcare workers to detect infections and act immediately to prevent transmission.