President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has once again called on African countries to put an end to the export of raw materials, describing the practice as a key factor keeping the continent in poverty.
In a statement posted on his official X (formerly Twitter) handle, Dr. Adesina said, “Africa must end the exports of its raw materials. The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth. And Africa is tired of being poor.”
The former Nigerian Minister of Agriculture maintained that the current economic model, where Africa exports unprocessed commodities and imports finished goods at higher costs, is unsustainable and detrimental to the continent’s growth.
He emphasised that value addition and industrialisation are critical to creating jobs, building industries, and generating wealth locally.
Experts have long warned that Africa’s reliance on exporting raw materials benefits foreign economies more than it does the continent. A common example cited is cocoa, which is widely produced in West Africa but largely processed abroad into chocolate and other products.
Dr. Adesina’s renewed call comes at a time when there is growing demand for economic diversification and industrial expansion across Africa. The African Continental Free Trade Area (AfCFTA) has also opened fresh opportunities for regional cooperation and local value addition.
“Africa is not poor,” Adesina had earlier declared. “It is rich in resources—but it must also become rich in value.”
Analysts say his comments reflect an urgent need for African governments to adopt policies that support local processing and reduce dependence on external markets.
