At this year’s World Bank Spring Meetings, global leaders and African changemakers came together for a powerful conversation on how to drive Africa’s economic growth by investing in African businesses. The event, hosted by African Business Stories (ABS), featured Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, who gave an inspiring talk on how Africa can grow by attracting investment from its global diaspora.
This was the third edition of the ABS Roundtable Series, held at the offices of Akin Gump Strauss Hauer & Feld LLP in Washington, D.C. It focused on one big question: How can Africans abroad help grow businesses back home? The goal is to close the funding gap that African entrepreneurs, especially women face and to unlock real opportunities for long-term growth.
The event was supported by Bank of America, Akin LLP, and Moneda Invest Africa, who are all committed to creating stronger financial systems and supporting entrepreneurship across Africa.
The event kicked off with strong opening remarks from Admassu Tadesse, President of the Trade & Development Bank, and Zainab Ahmed, World Bank Executive Director and former Nigerian Finance Minister. They urged everyone to move beyond foreign aid and focus on investing in Africa’s businesses and people.
A panel discussion followed, with experts like Joan Manda (UNDP Timbuktoo Initiative), Barbara Iyayi (Unicorn Growth Capital), and Chidi Blyden (Culturally Bound). The conversation focused on how to build trust with investors, create reliable systems, and turn Africa’s 44 million small and medium businesses (SMEs) into engines for economic growth.
In a special fireside chat, Dr. Ngozi Okonjo-Iweala shared her vision for Africa’s future. She was interviewed by Yvonne Ike, Managing Director at Bank of America and Head of Sub-Saharan Africa (ex-RSA ).
Dr. Okonjo-Iweala in addressing investors, policymakers and entrepreneurs made it clear that;
“Africa’s opportunity lies not in aid – but in adding value, building trust, and using our resources wisely,”
She said Africa has the talent and resources to thrive but must stop exporting raw materials and instead build industries that create jobs and value.
“Our critical minerals are in demand — but instead of giving them away raw, we must negotiate smartly, add value locally, create jobs, and become a true hub of global manufacturing and innovation.”
She also talked about global economic challenges, including reduced foreign aid and trade issues, and urged African leaders to focus on transparency, collaboration, and smart policies that attract investment.
Dr. Okonjo-Iweala ended with a strong message of encouragement:
“Even solving one problem or building one enterprise can have ripple effects across the continent. Everyone has a role to play in building Africa’s future.”
Yvonne Ike from Bank of America added that events like this are important because they bring people together to create real change. The diaspora plays a huge role in driving Africa’s growth.
Akaego Okoye, founder of African Business Stories, said the goal of the roundtable is to change how people see Africa, from a continent in need to a continent full of opportunities.
“Diaspora investment is not just about capital; it’s about building ecosystems and reshaping Africa’s economic narrative. We are proud to create a platform where action-oriented conversations drive real change.” she said.
With a shared commitment to innovation, trust-building, and entrepreneurship, participants pledged to expand access to capital for the continent’s 44 million SMEs-key pillars for long-term growth and deepen collaboration with Africa’s diaspora, a vital force in shaping the continent’s future.
