Africa must increase its capacity to produce, process and retain more value from its resources, Temwa Gondwe, Director of Intra-African Trade and Export Development (Creatives and Diaspora) at Afreximbank, said.
Gondwe delivered the message on behalf of Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, during the 2026 YGL Convening of the ADF Africa-Diaspora Leadership Programme in Lagos.
Speaking at the 650,000-barrel-per-day Dangote Refinery, Gondwe cited the project as an example of Africa’s ability to develop industrial ventures at global scale.
Afreximbank supported the refinery’s development by underwriting $2.5 billion of a $4 billion syndicated loan and providing a $1 billion working-capital facility.
Gondwe said the refinery forms part of a broader industrialisation agenda aimed at shifting African economies from exporting raw materials towards producing finished goods, developing regional value chains and creating jobs.
He affirmed that achieving this transition requires investment beyond production facilities, including in power, transport, logistics, payment systems and trade infrastructure needed to connect African producers with regional and global markets.
Gondwe also highlighted Afreximbank’s Global Africa Strategy, which seeks to mobilise capital, expertise and business networks across the African diaspora to support investment and enterprise on the continent.
Through initiatives including the Afreximbank Global Africa Gateway, the Caribbean Initiative and CANEX, the Bank is seeking to facilitate investment, market access, knowledge exchange and business partnerships across the global African community.
The strategy aims to channel a greater share of diaspora resources into productive investment while connecting African businesses with the capital, skills and markets needed to expand.
