Leaders from major international organisations are today signing a manifesto aimed at fast-tracking business growth across Africa, according to TEHA Africa CEO Pietro Mininni. The announcement comes during the TEHA CEO Dialogue on Southern Africa in Johannesburg, organised by the Italian think tank, The European House – Ambrosetti, known for shaping high-level business and policy discussions across Europe, Africa, and the Middle East.
TEHA Africa, the pan-African arm of the consultancy group, focuses on economic transformation, private-sector policy, and investment strategy. Mininni says the manifesto is the result of months of collaboration with governments, investors, and development partners, designed to place Africa’s competitiveness at the centre of global economic discussions.
Mininni highlights the private sector as the continent’s main growth engine. He notes that businesses already account for over 80% of Africa’s production, drive roughly two-thirds of investment, and provide employment for about 90% of working-age Africans. “The private sector is the driving force of Africa’s economy,” he says, adding that the manifesto aims to align public and private actors around a long-term growth agenda.
Infrastructure renewal is a core focus. Africa’s ports, roads, transport corridors, and energy systems require urgent modernisation, he explains, estimating that closing the infrastructure gap could lift annual GDP growth by up to 2%. Reliable energy supply is another priority: Africa needs at least 16 gigawatts of grid-connected capacity each year until 2050, requiring $3.2–4.3bn in annual transmission investments. Without it, the continent risks losing competitiveness in global value chains.
Mininni also points to governance, stability, and mobility as key competitiveness factors. Countries plagued by armed conflict can lose around 2.5% of GDP growth annually. Improved visa regimes—currently visa-free travel covers 28% of continental routes—would ease business travel, support skilled labour movement, and boost investment flows.
Small and medium-sized enterprises (SMEs) and capital markets are central to Africa’s future. Capital markets have grown five-fold in two decades, reaching $1.4tn, while startups and SMEs are poised to become global competitors. Yet financing gaps remain: sub-Saharan African SMEs face a $331bn shortfall. Mininni stresses that bridging this gap is critical for scaling technology adoption, raising productivity, and driving sustainable growth.
Africa’s young population is another advantage: over 70% of people in sub-Saharan Africa are under 35, and by 2075, one in three workers globally will be African. Realising this potential requires investments in education, healthcare, and workforce development. Regulatory stability is equally important, with predictable frameworks potentially increasing foreign direct investment by up to 30%. Strengthening institutions, harmonising standards, and credible dispute-resolution systems are key to unlocking private capital at scale.
“Governance is not only a prerequisite for development but a strategic advantage that drives fair competition and innovation,” Mininni concludes, underscoring the manifesto’s focus on turning Africa’s challenges into long-term growth opportunities.