The African Private Capital Association (AVCA) has called for increased private investment in infrastructure, local manufacturing and domestic supply chains to strengthen Africa’s economic resilience and improve the continent’s competitiveness in global markets.

The association made the call at its Sustainable Investing in Africa Summit in London, UK, where investors, development finance institutions and industry leaders examined how private capital could support economic transformation amid geopolitical tensions, market volatility and changing global supply chains.

Participants stressed the need to move African economies away from dependence on raw material exports towards local processing and industrial production, arguing that retaining more value within the continent would create jobs, strengthen domestic businesses and expand government revenue.

Chief Executive Officer of AVCA, Abi Mustapha-Maduakor, said sustainable investment remained critical to Africa’s long-term economic prospects, despite changing global attitudes towards sustainability.

“While sustainability is being questioned, redefined, or deprioritised in some parts of the world, it has never been more relevant in Africa,” she said, adding that sustainable investment was essential to building resilience and creating long-term value.

The summit also highlighted Africa’s growing strategic importance in addressing global supply chain disruptions and supporting the energy transition, with speakers urging investors to reconsider conventional approaches to assessing risks across African markets.

British A. Robinson, Chair, Africa at the Milken Institute, said the continent had greater room to build partnerships across global markets rather than align exclusively with geopolitical blocs.

She described Africa as a “swing actor” capable of working with different countries and economic powers as global relationships evolve.

The discussion also underscored the importance of mobilising domestic capital alongside international funding to finance infrastructure and support businesses seeking to expand across the continent.

Head of Equity and Funds Division at the European Investment Bank, Matthieu Ducorroy, said Africa’s resilience was closely linked to that of Europe, highlighting the interconnected nature of their economic prospects.

On industrial development, Senior Investment Officer for Private Equity Funds at the International Finance Corporation, Saima Rehman, called for a shift from extractive activities to locally integrated supply chains.

She said processing raw materials within Africa would help create sustainable employment, strengthen domestic enterprises and establish a more resilient tax base.

Co-Founder and Managing Partner of Alitheia Capital, Tokunboh Ishmael, said investment should extend beyond individual businesses to the infrastructure and value chains needed to support their growth.

She argued that financing these foundations would help businesses withstand economic shocks and scale their operations.

The need for locally developed digital infrastructure also featured prominently, particularly as artificial intelligence adoption increases demand for computing capacity and data services.

Investment Principal at 4DX Ventures, Harriet Adinkrah, said data centres needed to be located within the markets they serve to improve access, reduce latency and support the development of Africa’s digital economy.

She noted that local infrastructure was not only important for data sovereignty but also necessary for the technical performance of digital services used by African businesses and consumers.

Climate adaptation was another priority discussed at the summit, with participants calling for innovative financing structures to support resilient infrastructure and attract domestic institutional investors.

Chief Executive Officer and Managing Director of ARM-Harith Infrastructure Investment, Rachel Moré-Oshodi, said pension funds could play a greater role in financing long-term infrastructure projects.

She noted that investments offering inflation protection and maturities aligned with pension fund liabilities had helped attract domestic institutional capital.