The future of Africa’s economic transformation hinges on the deliberate development and protection of African-owned businesses capable of competing globally, Alex Apau Dadey, Executive Chairman of KGL Group, has said.
Speaking at the Africa Prosperity Dialogues (APD) 2026, Mr. Dadey emphasized that strong African business champions are key drivers of sustainable growth, industrialization, and long-term prosperity across the continent.
“If we want sustainable growth in Africa, we must deliberately build African business champions that can compete globally,” he said. “History shows us that lasting economic transformation is driven by enterprises that scale beyond domestic markets — businesses that meet global standards, attract international capital, and compete on quality, governance, and execution.”
Mr. Dadey pointed out that Africa does not lack entrepreneurs or ideas. The real challenge lies in turning innovation into large-scale, sustainable businesses and protecting successful local enterprises from failure.
“Africa does not lack entrepreneurs. Africa lacks protection for successful entrepreneurs,” he said. “Across the continent, when an African business moves from survival to significance, it attracts attention — not celebration, not partnership, but scrutiny. The systematic destabilisation of African business champions once they become competitive is worrying.”
He stressed that building African champions is not about exclusion or nationalism, but about inclusion and ensuring African ownership in global value chains. “Building great African businesses is not about leaving Africa behind; it is about taking Africa with us,” he said. “An Africa built by African global champions is an Africa that is resilient, confident, and competitive.”
According to Mr. Dadey, African business champions are more than wealthy individuals; they are stabilizing forces in economies. They anchor supply chains, sustain local production, invest in research and development, and provide patient capital that stays committed even when external financing retreats.
He also called for a rethink of public–private partnerships (PPPs), urging the private sector to go beyond commercial collaboration. “Wealth created through PPPs should make a lasting impact in the communities they operate in. The private sector should not limit PPPs to only commercial collaboration, but also be responsible corporate citizens, filling in critical social intervention gaps left uncovered by governments — not as charity, but as investment in long-term stability, trust, and shared prosperity,” he said.
Mr. Dadey warned of a subtle but growing threat to African businesses — the weaponization of narratives. “In today’s economy, companies are not destroyed with tanks,” he said. “They are dismantled through headlines, hashtags, consultant reports, and so-called neutral policy advice. Once control of the narrative is lost, the business is already wounded.”
Despite these challenges, he remained optimistic about Africa’s economic future, highlighting initiatives like the African Continental Free Trade Area (AfCFTA) as tools for scaling businesses, integrating markets, and spreading prosperity.
“Africa’s greatest advantage is not just its resources or demographics,” he concluded. “It is the choices we make now — and the African business champions we choose to support, protect, and empower to lead our transformation.”
