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Africa is rising. But is it still on course, or is it being pushed off track by an increasingly fragmented world? As geopolitical rivalries intensify, global economic imbalances re-emerge, and the rules of international cooperation are increasingly contested, the continent stands at a defining moment. The contributions gathered in this issue examine how Africa can navigate these shifting dynamics while advancing a development model that is more resilient, inclusive, and firmly anchored in its own strategic priorities.

 

Africa's voice in global governance has never been more important. As the international order undergoes profound transformation, the continent has an opportunity to strengthen its influence within multilateral institutions, promote reforms to the international financial architecture, and shape global debates on development, climate, and economic cooperation. At the same time, persistent global imbalances and growing geopolitical fragmentation are reshaping trade, investment, and capital flows, creating new risks but also opening space for African countries to diversify partnerships and pursue greater strategic autonomy.

 

The continent's greatest asset remains its people. With the world's youngest population entering a decisive electoral cycle in 2026, meaningful youth participation and inclusive governance will be central to democratic legitimacy and long-term stability. Expanding opportunities for younger generations through responsive public policies, civic engagement, and greater political representation is essential to strengthening democratic institutions and unlocking Africa's economic and social potential in an era increasingly shaped by digital transformation and artificial intelligence.

 

Food, energy, and industrial development remain equally critical to Africa's future. Climate change, global supply-chain disruptions, and geopolitical tensions continue to expose structural vulnerabilities while reinforcing the urgency of building greater economic resilience. Achieving the ambitions of Agenda 2063 will require transforming agriculture, strengthening regional value chains, accelerating the implementation of the African Continental Free Trade Area, and expanding reliable access to energy through a diversified mix of renewables, natural gas, and potentially small modular nuclear reactors.

 

Africa's abundant natural resources also offer an unprecedented opportunity to move beyond exporting raw materials toward creating value at home. Growing global demand for critical minerals and petroleum products could become a catalyst for industrialization, expand domestic processing and refining capacity, and build integrated value chains. Harnessing these opportunities will ultimately depend on sound governance, strategic investment, and coordinated action that enables the continent to capture a greater share of the value generated by its own resources.

 

Africa's future will be shaped not only by the challenges it faces, but by the choices it makes. In a world defined by uncertainty and fragmentation, the continent's greatest comparative advantage will lie in its capacity to act collectively, strengthen its institutions, and translate its demographic, economic, and strategic assets into lasting and inclusive development.

PUBLICATIONS

Global Imbalances and Geopolitical Fragmentation

 

Otaviano Canuto, Diogo Ramos Coelho, Bruno Saraiva

 

Global imbalances are back, and this time the risks look different. The 2008 financial crisis showed how persistent current-account deficits and surpluses between major economies can fuel financial instability and trigger sudden, severe reversals of capital flows. After almost two decades, many thought that episode had been resolved. It had not. New imbalances have built up, with a familiar cast: China, Germany, Japan, and oil exporters running large surpluses, and the United States absorbing the rest of the world's savings. But the underlying dynamics have shifted in ways that make the current situation harder to read and potentially harder to unwind. This paper traces those shifts and asks whether the world is better or worse placed to manage them this time around... Read more

 

Africa, the New South and Global Governance: Challenges and Opportunities

 

Hung Q. Tran

 

This report highlights the critical need for Africa and the New South to leverage existing global governance formats, like the G20, G77, and Non-Aligned Movement, to amplify their voices and coordinate on key global issues such as growth, food security, and international financial reform. The energy transition is identified as a significant opportunity for growth, enabling these nations to become energy powerhouses. The book ultimately provides an overview of the complex challenges and opportunities facing Africa and the New South amidst a quadruple climate-demographic-geopolitical-technological transition, advocating for adaptable and innovative cooperation mechanisms... Read more

 

The 2026 Elections in Africa: Youth Participation, Inclusive Governance, and Generational Issues

 

Nouzha Chekrouni

 

This paper examines the dual challenge for youth policies globally: addressing socioeconomic issues like unemployment and regional disparities, while fostering civic participation. In Africa, this is amplified by a large youth population and fragile democracies. With 2026 marking a pivotal election year across the continent, including Morocco, youth involvement in decision-making is critical. The analysis also considers how AI is transforming labor markets and governance, highlighting the systemic risk of perpetuating existing inequalities in youth policy design and implementation... Read more

 

 

A Book Review of “How Africa Works” by Joe Studwell

 

Hafez Ghanem

 

Africa should not simply copy Asia’s development model. While Joe Studwell’s book offers valuable lessons on agriculture, political consensus, and productive transformation, this piece contends that Africa’s path in 2026 must reflect today’s realities: digital transformation, services-led growth, changing global trade, and the diversity of African economies. The key message is that Africa needs a hybrid development strategy, one that strengthens agriculture and manufacturing, while also investing in high-value services, digital infrastructure, and better management of natural resources... Read more

 

AFRICA’S FOOD AND ENERGY SECURITY

Africa: Different Approaches to Food Security in an Era of Climate Change, Rising Geo-Political Tensions, and Global Trade Fragmentation - Part I

 

Isabelle Tsakok

 

This paper highlights Africa's persistent food insecurity, marked by malnutrition and underemployment, placing it significantly behind on SDG targets. Despite this, Agenda 2063 offers a vision for shared prosperity. The Mo Ibrahim Forum advocates for a shift from "business-as-usual," urging Africa to prioritize governance, rule of law, and security. Key actions include attracting private investment, mobilizing domestic financial resources, implementing the AfCFTA, and investing in infrastructure and agriculture to enhance food security... Read more

Should Africa Go Nuclear?

 

Hafez Ghanem

 

This opinion explores whether Africa should adopt nuclear energy, specifically small modular reactors (SMRs), to address its significant electricity deficit. It highlights the continent's urgent need for increased electricity production to support economic and social development, particularly in the digital and AI sectors. The piece examines recent advancements in SMR technology and the World Bank's new policy allowing financing for nuclear projects in developing countries, comparing the costs and benefits of nuclear energy with renewables and natural gas to determine if SMRs are a viable solution for Africa's energy challenges... Read more

Africa Needs More Petroleum Refineries

 

Hafez Ghanem

 

Africa needs to expand its petroleum refining capacity to boost domestic value-added and reduce import dependence, especially given increasing global shocks. Currently, Africa exports crude oil and imports refined products, losing significant economic benefits. Investing in refineries, despite the energy transition, offers high returns and builds industrial capacity, creating skilled jobs. While green energy investment is crucial, petroleum demand will persist, making efficient, integrated refining plants a strategic necessity for the continent's resilience and development... Read more

Proposing an African Mineral Exporters Platform

 

Hafez Ghanem

 

Geopolitical rivalries, and especially the competition for access to critical minerals, could be an opportunity for Africa. The objective of African mineral exporters is to diversify their partners and increase processing and value addition on the continent in order to create jobs and enhance export revenues. To succeed, African exporters of critical minerals need to strengthen their coordination and develop joint infrastructure projects and regional value chains. The creation of a platform of key African mineral exporters would be an important step toward enhanced coordination and cooperation... Read more

UPCOMING EVENT

Register to attend the 4th Africa Economic Symposium (AES), organized by the Policy Center for the New South under the theme "Turning Transitions into Growth". This major convening will bring together more than 200 economists, policymakers, and academics from 40 countries to examine the macroeconomic and structural transformations shaping Africa’s future. The Symposium will also mark the launch of the 7th edition of the PCNS Annual Report on the African Economy, while discussions will explore fiscal resilience, debt, industrial transformation, climate and technology transitions, and the financing of sustainable growth. A special session will further examine how Morocco can leverage the 2030 FIFA World Cup to generate lasting economic and social impact.

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