Sahara Group Calls for Intra-African Investment Boost

At the African Refiners and Distributors Association (ARDA) event in Cape Town, South Africa, Sahara Group's Executive Director Temitop Shonubi highlighted the necessity for a deliberate shift towards intra-African investment. He criticized the fragmented approach of African nations, advocating for a unified mindset that prioritizes local capital mobilization and value creation.

Shonubi noted that despite foreign direct investment in Africa surpassing official development assistance in recent years, the continent still faces significant challenges, including high capital costs and regulatory fragmentation. He emphasized that Africa must transition from being perceived as an aid recipient to a credible investment destination.

The TRIPS framework proposed by Sahara Group aims to guide this transformation, focusing on education and workforce alignment with industry demands. Shonubi also pointed out that 600 million Africans lack access to electricity, underscoring the urgent need for infrastructure investment, particularly in the energy sector.