NextBillion - A WDI Publication

Why Africa Must Embrace Shared Ownership?

In the global competition for capital, size matters.

The breakdown of multilateralism and aid flows, alongside rising conflict in the Middle East, is redrawing capital allocation and sharpening investors’ search for stability and scale. Scale has also become a defining corporate imperative, as leading nations in Asia and North America are leveraging advanced technological expertise – from clean energy and digital platforms to manufacturing and finance – to project influence through their major companies. As for Europe, having created the world’s most integrated common market, it is now seeking to better harness this strength to foster more truly continental champions like Airbus, recognising the cost of overlooking this fundamental shift:

Scale is no longer an option. It is the first line of defence.
In this new world, can Africa rise to the occasion? The continent has demonstrated resilience, with growth rates rising, sovereign ratings improving, and the AfDB securing record replenishment. But as the European experience has shown, if Africa is to compete on the global landscape, reaching the necessary scale will require not only removing the physical and regulatory barriers but also encouraging the emergence of truly continental champions and projects. Achieving this will mean moving beyond a mindset sometimes anchored in economic patriotism and embracing a new vision: shared ownership.

Shared ownership offers Africa its clearest path to scale.