Africa must seize control of its own financial destiny in a post-aid era to accelerate progress towards its development goals. That is the resounding consensus from the 2025 Ibrahim Governance Weekend (IGW), detailed in the newly released Mo Ibrahim Foundation Forum Report: Financing The Africa We Want.
The report, combining crucial data with insights from the three-day debates held in Marrakech from June 1-3, lays out a blueprint for African-led ownership, autonomy, and accountability in financing the continent’s future.
In a global landscape where traditional aid models are receding, African leaders, international stakeholders, and the continent’s youth gathered at the IGW to advocate for a fundamental shift.
The overarching message: Africa must define its financial priorities, reshape international partnerships, leverage its vast internal resources, and foster development through strengthened regional integration. These steps are deemed essential to propel the continent towards the ambitious targets set by the African Union’s Agenda 2063 and the United Nations Sustainable Development Goals.
The report meticulously outlines five overarching pillars that formed the bedrock of this consensus, offering a roadmap for sustainable, self-financed growth:
Key pillars for Africa’s financial future as discussed in the forum include:
-Build interest-based and symmetrical alliances: The report advocates for a radical shift in Africa’s partnerships. Instead of relying on traditional financial pledges, alliances must be grounded in Africa’s own strategic interests, focusing on more effective mechanisms and capacity-building processes that deliver tangible, mutually beneficial outcomes.
-Capitalise on the world’s demand: With global interest in Africa’s abundant resources on the rise, the continent is urged to move beyond its historical role as a raw material exporter. The imperative is to transition towards diversified, value-adding economies. This necessitates adapting global trade and investment frameworks to incentivise local processing and green industrialisation through targeted technology transfer and knowledge sharing.
-Shift the investment narrative: The forum noted that Africa must proactively redefine its image as a frontier investment destination. A critical component of this involves improving transparency and the rule of law across the continent. Equally vital is the mobilisation of more African capital to support African-led projects, which will be instrumental in building investor confidence and attracting broader global finance.
-Go at scale through continental integration: Accelerating the implementation of the African Continental Free Trade Area (AfCFTA) is paramount. The report calls for scaling intra-African trade and pooling resources through integrated development banks and regional value chains.
-Ensure governance, peace, and security, and take full ownership of it: The report calls for institutional reforms aimed at improving transparency and public accountability. Furthermore, it advocates for enhanced governance of Africa’s financial resources and natural assets, which is crucial for unlocking domestic revenue and supporting both climate and broader development finance mechanisms.
Commenting on the report’s release, Mo Ibrahim, founder and chair of the Mo Ibrahim Foundation, highlighted the urgency and significance of this shift. “The decline of aid should not be seen as some sort of cliff-edge moment for Africa. It was never going to be enough to finance Africa’s development – and our huge continent’s place in the new global economy should never be determined by the generosity of international partners,” Ibrahim asserted.
“This is the opportunity to rethink how we finance development on our own continent. First and foremost, we need to focus on governance, rule of law, security, without which none of this will be possible. And this is our sole responsibility. Because ownership comes with responsibility and accountability,” he added.
The 2025 Forum Report builds upon the Foundation’s earlier “Facts & Figures: Financing The Africa We Want”, released prior to the IGW, by incorporating updated data and expert contributions. While the initial document provided a diagnostic overview of Africa’s financing landscape and untapped potential, this final version consolidates new insights and key takeaways derived directly from the debates and discussions by industry leaders during the event.
