African Leaders Call for Greater Economic Independence as 2026 African Economic Conference Opens

July 13, 2026
By Mintesinot Nigussie

African policymakers and development experts have called for stronger collective action to increase the continent’s influence in global economic affairs, as the 2026 African Economic Conference (AEC) opened in Abidjan, Côte d’Ivoire.

Held from July 10 to 12 at the headquarters of the African Development Bank Group (AfDB), the conference is focused on strengthening Africa’s geopolitical agency and trade resilience amid a shifting multipolar global order.

The event, organised jointly by the AfDB, the United Nations Development Programme (UNDP) and the Organisation for Economic Co-operation and Development (OECD), brings together economists, researchers, policymakers and development institutions to discuss strategies for improving Africa’s economic position.

Souleymane Diarrassouba, Côte d’Ivoire’s Minister of Planning and Development and Governor of the AfDB for Côte d’Ivoire, said Africa must move beyond its traditional role as a supplier of raw materials and become a stronger participant in global value chains.

“Africa can no longer be viewed merely as a reservoir of raw materials. We must be recognised as a key player in global supply chains, a hub for industrialisation, and a force capable of defending its interests within international economic governance,” he said.

African Development Bank Group President Dr Sidi Ould Tah said the continent’s future influence would depend on its ability to negotiate collectively, strengthen competitiveness and shape international economic rules.

“For decades, discussions about Africa have focused on dependency, vulnerability and adaptation. Today, we must focus on autonomy, resilience, competitiveness and influence,” he said.

He added that Africa’s geopolitical autonomy would be measured by its ability to negotiate from a position of strength, translate shared interests into collective action and influence global outcomes.

The conference comes as countries face changing patterns in trade, development financing and international cooperation. Speakers said Africa needs stronger institutions, deeper regional integration and improved domestic financing capacity to respond to global shifts.

Ahunna Eziakonwa, UN Assistant Secretary-General and Director of the UNDP Regional Bureau for Africa, said Africa should play a more active role in shaping global governance.

“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,” she said.

OECD Secretary-General Mathias Cormann highlighted changes in the global development finance environment, saying countries need to make better use of development assistance while mobilising additional sources of investment.

“For many partner countries, aid is no longer a reliable or growing source of financing,” he said in a video address.

Pilar Garrido, OECD Director of International Development Cooperation, said official development assistance should remain focused on areas where it is most needed while broader financing sources are mobilised.

The opening sessions examined issues including industrialisation, human capital development, informal sector transformation, women and youth employment, natural resource governance, digital transformation and corruption prevention.

Participants are also discussing ways to strengthen Africa’s financial systems, develop domestic capital markets and address the impact of geopolitical tensions on African economies.

Established in 2006, the African Economic Conference has become a major platform for dialogue between researchers, governments, development institutions and private sector actors on Africa’s economic challenges.

The 2026 conference also hosts the annual meeting of the Global Network of Chief Economists of Development and Financing Institutions and features the launch of the African Chief Economists Network. It will also recognise graduates from the Public Finance Management Academy for Africa and the Macroeconomic Policy Management Academy for Africa.

Source: FSX Business News