By Benadeta Mwaura - Reporter
Côte d’Ivoire , July 13, 2026 - African leaders, economists and policymakers have called for the continent to take greater control of its economic future as shifting geopolitical alliances, global trade fragmentation and declining development assistance reshape the international order.
The call came during the 2026 African Economic Conference (AEC) in Abidjan, where delegates also launched the African Chief Economists Network (ACE-Network), a new continental platform aimed at strengthening evidence-based policymaking, coordinating African economic research and giving the continent a stronger voice in global economic governance.
Hosted by the African Development Bank (AfDB) in partnership with the United Nations Development Programme (UNDP) and the Organisation for Economic Co-operation and Development (OECD), the conference brought together ministers, central bank officials, chief economists, academics, researchers and private-sector leaders under the theme "Strengthening Africa's Geopolitical Agency and Trade Resilience in a Multipolar World."
The discussions reflected growing recognition that Africa can no longer rely solely on decisions made by global powers as the world shifts from a unipolar to a multipolar economic system increasingly shaped by competition between the United States, China, the European Union, emerging economies and regional blocs.
Opening the conference, Côte d'Ivoire's Minister of Planning and Development Souleymane Diarrassouba challenged the long-held perception of Africa as merely a supplier of raw materials.
"Africa can no longer be viewed merely as a reservoir of raw materials. We must be recognized as a key player in global supply chains, a hub for industrialization, and a force capable of defending its interests within international economic governance," he said.
His remarks echoed a broader consensus among delegates that Africa must move beyond exporting raw commodities and instead build resilient industrial economies capable of competing globally through manufacturing, value addition and regional trade.
African Development Bank Group President Dr Sidi Ould Tah urged African leaders to redefine the continent's development narrative, arguing that discussions should now focus on influence rather than dependence.
"For decades, discussions about Africa have focused on dependency, vulnerability and adaptation. Today, we must focus on autonomy, resilience, competitiveness and influence. Africa's geopolitical autonomy will be measured by its ability to negotiate from a position of strength, shape the rules of the game, translate its collective interests into collective action and ultimately influence outcomes," he said.
Dr Ould Tah noted that the vision aligns with the Bank's proposed New African Financing Architecture for Development (NAFAD), which seeks to strengthen domestic resource mobilisation, reduce dependence on external financing and create sustainable mechanisms for financing Africa's long-term development.
The conference comes at a time when African economies are navigating rising debt burdens, climate shocks, declining foreign aid, supply chain disruptions and increased geopolitical competition over the continent's strategic minerals, energy resources and expanding consumer markets.
Delegates argued that these global shifts present not only risks but also opportunities for Africa to negotiate better trade agreements, strengthen regional integration and become a more influential player in international economic governance.
UN Assistant Secretary-General and Director of the UNDP Regional Bureau for Africa Ahunna Eziakonwa said Africa must seize the moment to shape global decision-making rather than simply responding to it.
"The world is being rewritten. Africa's role is no longer to adapt to rules made by others, but to help define the rules of tomorrow. Geopolitical influence will not be granted to us; it must be earned through stronger institutions, deeper regional integration, resilient trade and the courage to act together. This conference is where ideas become strategic assets for Africa," she said.
Representing the OECD, Secretary-General Mathias Cormann, in a recorded address, warned that official development assistance can no longer be relied upon as the primary source of financing for developing economies.
OECD Director of International Development Cooperation Pilar Garrido reinforced the message, stating: "For many partner countries, aid is no longer a reliable or growing source of financing. This reality should prompt reflection, but it should strengthen—not weaken—our resolve. We must preserve and prioritize official development assistance where it is most needed while mobilizing significantly larger volumes of development finance from all available sources."
The changing global financing landscape has become increasingly important for Africa as several traditional donor countries reduce aid budgets while placing greater emphasis on private investment, blended finance and domestic resource mobilisation.
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One of the conference's most significant outcomes was the launch of the African Chief Economists Network (ACE-Network), an invitation-only platform bringing together chief economists from development finance institutions, multilateral organisations, central banks, governments, universities, think tanks and the private sector.
The network aims to improve coordination among Africa's leading economic thinkers, strengthen early warning systems for emerging risks and ensure governments have access to high-quality research when making economic policy decisions.
Speaking on behalf of AfDB President Dr Ould Tah during the launch, Senior Vice-President Marie-Laure Akin-Olugbade described the initiative as a major step toward strengthening Africa's policy leadership.
"This is a big responsibility on your shoulders, and we expect to see clear results in the form of very effective decisions and, therefore, actions that really move the needle for the men and women of this beautiful continent of ours," she said.
The network will meet annually during the African Economic Conference while holding quarterly virtual meetings and emergency consultations during major economic or financial shocks affecting the continent.
African Development Bank Chief Economist and Vice-President for Economic Governance and Knowledge Management Professor Kevin Urama said Africa must invest more heavily in research, data and policy institutions if it hopes to influence reforms to the global financial system.
He argued that stronger investment in knowledge systems would complement Africa's growing investments in physical infrastructure such as roads, ports and energy projects while helping governments make better-informed policy decisions.
Among the priorities identified for the network are strengthening Africa's knowledge sovereignty, improving policy coordination, reducing duplication across institutions, expanding investment in research and innovation, strengthening early warning systems and ensuring economic analysis better reflects African realities.
UNDP Regional Bureau for Africa Chief Economist Dr Raymond Gilpin described the initiative as an opportunity to bridge the long-standing gap between academic research and public policy.
"The Africa Chief Economists Network will be an engine room that designs creative solutions necessary for Africa to attain the Sustainable Development Goals and the African Union's Agenda 2063," Gilpin said.
Similarly, United Nations Economic Commission for Africa (UNECA) Deputy Executive Secretary and Chief Economist Dr Hanan Morsy said today's interconnected global crises require stronger collaboration among African economists.
"No country, regardless of its size or resources, can effectively navigate this environment alone," she said, adding that the network's success would ultimately be judged by its ability to improve policymaking, strengthen resilience and support faster, more inclusive growth.
OECD Development Research Unit Head Ida McDonnell added that global challenges such as debt, trade, climate finance and industrial policy should no longer be addressed independently. Instead, she argued, integrated policy approaches would better position African economies to compete globally while reducing duplication across institutions.
Throughout the three-day conference, delegates examined strategies to strengthen Africa's geopolitical influence by expanding regional value chains, accelerating industrialisation, mobilising domestic capital markets, improving public finance management, embracing artificial intelligence, strengthening climate resilience and deepening implementation of the African Continental Free Trade Area (AfCFTA).
Participants concluded that Africa possesses many of the ingredients needed to become a major global economic player, including the world's youngest population, abundant renewable energy resources, vast reserves of critical minerals, rapidly expanding digital markets and the world's largest free trade area by membership.
However, they agreed that stronger institutions, coordinated policymaking, better governance and investment in knowledge and innovation will ultimately determine whether the continent can convert those advantages into sustainable economic growth and greater influence in shaping the global economic agenda.