Driving Africa’s Growth: Embrace Made-in-Africa, Local Investment

In a bold move to reshape Africa’s economic trajectory, stakeholders have been advised to focus on promoting Made in Africa products, mobilizing local capital, and implementing supportive policies that empower African entrepreneurs.

Founder and Chief Executive Officer, Arise Integrated Industrial Platform, Gagan Gupta, who made th call at the ongoing AFREXIM Bank Annual Meeting in Abthe continent’s potential was widely acknowledged but often underutilized.

Gupta explained that economic liberation can not rely solely on foreign investment. “If you really want to describe Africa’s future accurately, you have to promote Made in Africa. That is the foundation of self-determination and growth.”

He noted that entrepreneurs and investors were increasingly recognizing that Africa’s economic advancement must be driven from within. The movement emphasizes consuming goods manufactured on the continent, fostering pride in local craftsmanship, and building brands that reflect African culture and resilience.

The CEO stressed that beyond cultural pride, the push was economically strategic to mobilize local capital, which is seen as critical to reducing dependency on external funding sources. 

“We need more local capital to come into play, where African entrepreneurs themselves are investing and growing platforms that serve African needs.”

He posited that across the continent, small and medium-sized enterprises were the backbone of innovation, but many were constrained by limited access to financing.

Gupta said encouraging domestic investment, savings, and reinvestment can fill this gap and drive job creation.

He urged the government to implement supportive regulations, tax incentives, and trade policies that prioritize local production and consumption, without which local businesses would continue to be outcompeted by cheaper, mass-produced imports

He said integration of local capital and policy support was also expected to enhance intra-African trade under the African Continental Free Trade Area, creating new markets and economies of scale for producers.

Gupta added that the time was ripe for a continental mindset shift from consumers of global goods to producers of African value, with the right mix of patriotism, investment, and policy, Africa could unlock a new chapter of homegrown prosperity.

Umbwanko Baba, Edited By Grace Namiji