Cape Town – Nigerian opposition leader and former Anambra State governor Peter Obi told a gathering of ministers and policymakers in Cape Town on Friday that Africa has no excuse for its continued poverty, given the vast natural and human resources the continent possesses.
Obi delivered a guest speech at the Spier Dialogue Event on “Policies for Growth in Africa” in Cape Town, South Africa, a day after meeting with ministers, where he laid out his vision for what he described as a continent held back not by a lack of resources but by poor leadership and corruption.
“Africa holds huge mineral reserves, possesses over 60% of the world’s uncultivated arable land, and has the youngest population globally. These are not liabilities; they are strategic assets for economic transformation,” Obi said.
He argued that despite these advantages, Africa continues to lag behind because of weak institutions, poor leadership and the high cost of governance, and called on the continent to shift its attention away from endless election cycles toward productivity, development and nation-building.
Obi said the future of Africa depended on aggressive investment in Human Development Index indicators, particularly education, healthcare and poverty reduction, noting that many African countries still recorded low life expectancy, high infant mortality, widespread unemployment and growing poverty.
He also warned that small and medium-scale businesses, which he described as the engine of growth, were collapsing under harsh economic conditions, poor infrastructure and policy inconsistency.
“What Africa needs is competent leadership with the capacity, compassion, and commitment to prioritise production over consumption, and development over politics. If we invest in our people, strengthen institutions, reduce the cost of governance, combat corruption, and create an environment where businesses can thrive, we can build a more productive, secure, democratic, and prosperous Africa that works for all its people,” he said.
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