The shocking truth that keeps Africa poor – Adesina speaks out

President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has renewed his call for Africa to end the export of raw materials, insisting that the practice continues to trap the continent in poverty.

In a post on his official X (formerly Twitter) handle, Adesina declared: “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 argued that exporting unprocessed commodities benefits foreign economies more than it does African nations, as it robs the continent of the opportunity to create jobs, build industries, and generate wealth.

“Africa’s current economic model, where we ship out raw materials and import finished goods at higher prices, is unsustainable,” he has repeatedly stated in various fora. “We must process what we produce and move up the value chain.”

Adesina’s comments come amid growing calls for economic diversification across the continent and the implementation of policies that promote industrialisation and intra-African trade.

Analysts say his remarks reflect a broader urgency for Africa to take ownership of its production capacity and reduce dependence on external markets.

Experts often cite the example of cocoa—largely produced in West Africa but processed abroad into chocolate—as a symbol of this imbalance.

By focusing on value addition, African nations could significantly increase export earnings and strengthen local economies.

With the African Continental Free Trade Area (AfCFTA) creating new avenues for regional collaboration and industrial expansion, Adesina’s message underscores a timely call to action.

“Africa is not poor,” he said in an earlier statement. “It is rich in resources—but it must also become rich in value.”