For the last 500 years, Africa’s economy has largely been characterized by the extraction of ‘raw’ materials – labour, agriculture products, or minerals, and has provided far too little benefit to Africans. This was exacerbated by a rent seeking mentality that stunted the potential of the private sector to drive inclusive economic development.
Africapitalism is defined as the positive role the private sector must play in Africa by making long-term investments in strategic sectors of the economy in a way that creates and multiplies local value in order to accelerate and broaden prosperity throughout the continent and around the world. Africapitalism calls for a new kind of capitalism – a version in which Africa leapfrogs other models, creating a more broad-based and sustainable economy.
The Africapitalism Institute is a pan-African, independent, non-profit think tank. We pursue our mission by carrying out academically rigorous, practically applicable research; by widely communicating new ideas, directly engaging key stakeholders, and advocating for public policies and business practices that will unlock opportunities for all Africans.
Based in Lagos, Nigeria, the Institute will rely on a network of partner organizations around the continent to achieve its goals. Supported by The Tony Elumelu Foundation – the Institute’s Africapitalism philosophy is its founder’s vision for Africa’s development – the Institute will eventually become independent and self-sustaining.
To be the world’s leading authority on the important role Africa’s private sector must play in transforming the continent.
To accelerate and broaden economic prosperity and social progress throughout Africa by unlocking the private sector’s capacity to create and multiply local value.
- To build a broad-based campaign around Africapitalism that changes the ethos of Africa’s private sector, as well as the practices of non-African interests seeking to do business on the continent.
- To produce rigorous and innovative applied research that demonstrates the critical importance of Africapitalism to Africa’s development.
- To remove policy barriers and create incentives to encourage Africapitalism in both the public and private sectors.