Dr. Akinwumi Adesina, President of the African Development Bank Group (AfDB), has urged African leaders to prioritize building industries to create jobs for the continent’s youth, emphasizing that reliance on foreign aid is unsustainable. Speaking in an exclusive BBC interview, Adesina, whose tenure as AfDB president ends in September 2025, reflected on the challenges posed by declining aid from countries like the United States and stressed the need for self-reliance. 

“Africa cannot rely on the benevolence of others,” Adesina said. “Benevolence is not a strategy; investment is a strategy.” He advocated for robust private capital investments to unlock Africa’s assets and build competitive industrial value chains. “If you want to create more jobs, build industries. When you export raw materials, that’s the door to poverty,” he added. 

Adesina highlighted the economic potential of local manufacturing, noting that producing lithium-ion precursor batteries in the Democratic Republic of Congo costs three times less than in the United States, Poland, or China. Such industries, he argued, would retain and attract talent, reducing youth migration and fostering economic growth. 

Reflecting on his tenure, Adesina credited his upbringing in poverty for shaping his perspective. “Inequality is not theoretical,” he said, recalling walking kilometers to fetch water as a child. “Poverty is a mother, a child, a farmer, a community needing water, electricity, and health services.” 

As Africa faces a future with less foreign aid, Adesina’s call for industrialization underscores the need for strategic investments to secure economic independence and opportunities for the continent’s youth.