Keypoints:
- Leaders sign growth manifesto in Johannesburg
- Infrastructure and energy flagged as top priorities
- SMEs and mobility reforms seen as vital
LEADERS from several major international organisations are today signing a manifesto aimed at accelerating business growth across Africa, TEHA Africa CEO Pietro Mininni says, as the TEHA CEO Dialogue on Southern Africa unfolds in Johannesburg. The event is organised by The European House – Ambrosetti, an Italian think tank known for shaping high-level business and policy debates across Europe, Africa and the Middle East.
Mininni explains that TEHA Africa – the pan-African arm of the TEHA consultancy group – focuses on economic transformation, private-sector policy and investment strategy across African markets. He says the newly signed manifesto is the product of months of engagement with governments, investors and development partners, designed to push Africa’s competitiveness to the forefront of global economic discussions.
Private sector highlighted as main growth driver
Mininni stresses that Africa’s private sector already anchors the continent’s economic output. It generates more than 80 percent of production, drives roughly two-thirds of investment and provides employment for around ninety percent of working-age Africans.
‘The private sector is the driving force of Africa’s economy,’ he says, noting that the manifesto aims to align public and private actors around a long-term continental growth agenda.
He identifies infrastructure renewal as a core priority. Closing Africa’s vast infrastructure gap — across ports, roads, logistics, transport corridors and energy systems — could lift annual GDP growth by up to two percent. Large portions of the existing network, he adds, require urgent modernisation as industrial and trade volumes rise.
Energy needs demand major annual investment
Mininni outlines the continent’s energy needs, describing them as both a challenge and a global opportunity. Africa holds significant renewable potential, from solar and wind to geothermal and major gas reserves. But to meet basic economic targets, he says, the region must add at least sixteen gigawatts of grid-connected capacity every year until 2050.
This effort requires between $3.2bn and $4.3bn in annual transmission investment. Without reliable and affordable power, he warns, Africa risks losing competitiveness in global value chains.
Conflict, governance and mobility shaping competitiveness
Persistent instability continues to hinder growth, Mininni notes. Countries experiencing serious armed conflict lose around 2.5 percent of GDP growth annually. But he argues that a stable environment could become a competitive advantage, especially for long-term investors.
Improved mobility across the continent is another key theme. Visa facilitation measures have been introduced in twenty-six African countries, and visa-free travel now covers twenty-eight percent of continental routes. Mininni says expanding visa-free regimes, visa-on-arrival systems and digital visa platforms would reduce friction for business travel, strengthen investment flows and enable the movement of skilled labour.
SMEs and capital markets central to future gains
Africa’s capital markets have expanded five-fold in two decades and now hold a combined value of about $1.4tn. This aligns with the rapid rise of startups and SMEs expected to become global competitors.
Yet SMEs face a financing shortfall of around $331bn in sub-Saharan Africa. With SMEs contributing up to half of Africa’s GDP, Mininni says closing this gap is essential for scaling technology adoption, increasing productivity and enabling long-term growth.
Demographics and regulation hold long-term promise
Africa’s demographic profile is a defining asset. More than seventy percent of people in sub-Saharan Africa are under 35, and by 2075, one in three workers globally will be African. Turning this into sustained economic expansion requires major investments in education, health care and workforce development.
Regulatory stability will also be decisive, Mininni adds. He says predictable and transparent frameworks can increase foreign direct investment by up to thirty percent. Strengthening institutions, harmonising standards and ensuring credible dispute-resolution systems would help unlock private capital at scale.
‘Governance is not only a prerequisite for development but a strategic advantage that drives fair competition and innovation,’ he says.
