Africa’s economic expansion is running into a persistent roadblock: the continent lacks the domestic capital needed to create jobs for its rapidly growing workforce, according to leaders at the Bloomberg Africa Business Summit in Johannesburg.

Jeremy Awori, Chief Executive of Ecobank Transnational Inc., warned that reliance on foreign investment alone will not be enough to sustain growth. Young populations across Africa, he said, are increasingly frustrated by limited opportunities. “If we do not create growth and jobs, they will take matters into their own hands,” Awori said, pointing to protests across the continent and the recent military takeover in Madagascar as stark reminders of the social stakes.

The solution, experts argued, lies in mobilizing local resources. African banks must strengthen their capital base, while sovereign wealth and pension funds could play a pivotal role in financing infrastructure and private-sector development. Sub-Saharan Africa’s savings rate remains at negative 5.4 percent of GDP, according to World Bank data, leaving governments and companies with higher borrowing costs compared with other regions.

Wamkele Mene, secretary-general of the African Continental Free Trade Area, said boosting domestic savings would not only lower financing costs but also encourage foreign investors to commit funds with greater confidence. “Creating a positive environment for local investment helps everyone,” he said.

Despite challenges including political instability in parts of West Africa, the continent continues to post some of the fastest growth rates globally. But summit participants stressed that without significant progress in mobilizing domestic savings, Africa risks leaving millions of young people without opportunities, potentially undermining both economic and social stability.