Economic dimensions of justice for Africa growth

Africa Day commemorates the founding of the Organisation of African Unity on May 25, 1963, a landmark in the continent’s pursuit of unity, sovereignty, and self-determination.

Today, the call for reparations builds on that legacy, seeking not only to address historical injustice but to shape a more equitable and self-reliant future.

This year’s theme, Justice for Africans and People of African Descent Through Reparations demands more than reflection.

The legacies of slavery, colonialism, and systemic exclusion remain deeply embedded in economic structures across the continent. Responding requires a shift from recognition to economic transformation, focused on expanding access to opportunity, investment, and institutional capacity.

Delivering on this ambition means taking action through policy, finance, and regional collaboration. Central to this is the work of building systems that enable meaningful participation, by unlocking capital, expanding infrastructure, and connecting Africans to the engines of growth.

While traditional models of reparations face practical constraints, from how restitution is calculated to who qualifies, they also open the door for a more expansive conversation.

One that reimagines reparations not only as restitution, but as forward-looking investment in systems and sectors that have long been underdeveloped.

This is how Africa leapfrogs: by building institutions and ecosystems that drive inclusive prosperity.

Africa’s present challenges cannot be divorced from its past. Most of today’s economic boundaries mirror colonial trade routes and administrative divisions that prioritised extraction over development.

These legacies continue to shape where and how infrastructure is built, where industries are located, and who has access to capital.

Yet despite this historical baggage, Africa’s long-term growth trajectory is clear. By 2100, the continent’s population is projected to exceed 3.3 billion, with Nigeria and the Democratic Republic of Congo among the largest globally.

Urbanisation and digital adoption are advancing rapidly, positioning Africa to play an increasingly central role in the global economy.

Read:  Transformative strategies for AfCFTA

Unlocking this potential, however, will depend on how effectively countries address ongoing economic challenges. Ghana and Zambia continue to contend with debt stress and inflation, while in Kenya, fiscal adjustments are underway to stabilise the macroeconomic environment and protect future growth.

Meanwhile, countries such as Rwanda and Morocco illustrate what is possible through focused investment in infrastructure, education, and institutional reform.

Across the region, climate shocks, such as East Africa’s floods and the Sahel’s prolonged droughts, are disrupting communities and livelihoods.

At the same time, too many young Africans remain disconnected from the formal economy, despite their talent and entrepreneurial drive.

This tension, between growing opportunity and enduring exclusion, highlights the need to build inclusive, future-ready economies.

Reparative efforts must strengthen the systems that support productivity, resilience, and regional integration. Long-term empowerment begins with meaningful access to these systems.

In light of the continent’s vast potential and persistent structural barriers, the African Continental Free Trade Area (AfCFTA) emerges as a timely and transformative solution. The deal is among the most ambitious economic initiatives in Africa’s history. If fully implemented, it could boost intra-African trade by over 50 percent and lift millions out of poverty through expanded regional value chains.

It also offers a powerful tool to actualise this year’s theme.

By removing colonial-era trade barriers, AfCFTA enables African countries to reclaim economic agency and build a more equitable and self-reliant future. In doing so, it transforms the idea of reparations from principle into practice, through market access, shared infrastructure, and coordinated policy.

But success will require more than intent. It demands robust trade infrastructure, financial instruments that support cross-border commerce, and ongoing reforms to improve the ease of doing business.

To deliver on this promise, governments, private sector actors, development partners, and regional institutions must collaborate. This includes leveraging institutions such as the African Union, Afreximbank, and regional economic communities to accelerate financing, harmonise regulation, and unlock cross-border value chains. It is a shared responsibility.

Innovation, inclusion, and institutional commitment

Africa’s future will also be shaped by how effectively we embrace opportunities in the digital economy, green finance, and creative industries.

From mobile money platforms to climate-smart agriculture, these sectors offer a chance to leapfrog traditional development models and create jobs at scale.

At Stanbic Bank, we are proud to contribute as one of many institutions committed to Africa’s transformation. From financing green energy and trade infrastructure to empowering entrepreneurs through DADA and FutureNiDigital, we are investing in Africa’s long-term resilience.

But as a Pan-Africanist, I believe our aspirations must go beyond institutional milestones. Real change will only come through continental solidarity, regional ownership, and bold collaboration across sectors and borders. We must build systems that reflect our shared ambition for prosperity, not piecemeal progress, but transformative scale.

The most impactful form of reparations is not compensation — it is access. Access to capital, to markets, and to tools that allow Africans to define and drive their own future, on their own terms.

The writer is the Chief Executive Officer of Stanbic Bank Kenya and South Sudan