By Atoyebi Nike
World Trade Organization Director-General Dr. Ngozi Okonjo-Iweala says Africa urgently needs trade and infrastructure reforms after revealing that it costs 20% more for African countries to trade with one another than with nations outside the continent. She made the remarks during an interview with CNN’s Christiane Amanpour.
Okonjo-Iweala said the high cost of intra-African trade undermines the goals of the African Continental Free Trade Area, which was created to boost regional commerce and industrial integration. She warned that Africa’s weak infrastructure such as poor ports, unreliable electricity and inadequate logistics remains the biggest barrier to economic growth.
She noted that Africa holds 30% of global mineral resources and 67% of the world’s arable land, yet structural challenges prevent the continent from fully utilizing these advantages. Although Africa’s economy is projected to grow by around 4% in 2025, she said countries must invest more in human capital.
By 2050, Africa will account for 2.5 billion people and 22% of the world’s working-age population, a potential economic game changer if the youth are technologically skilled. “You can’t just say we have people; therefore, we are rich. They’ve got to be skilled,” she said, urging investment in tech and AI education.
Okonjo-Iweala praised the continent’s growing innovation, particularly in fintech, agritech, health tech, and the creative industries. She described Africa’s youth as its greatest asset and called for increased support for young innovators.
Despite existing challenges, she expressed optimism about Africa’s future. “I’m just excited to be African and to be Nigerian because of what I see,” she said.
