AFRICA'S MISSING INFRASTRUCTURE FOR INCLUSIVE TRANSFORMATION IS VISIONARY LEADERSHIP - ALEX DADEY

Delivering his lecture at the International Conference on African Development (ICAD) 2026 hosted by Anglia Ruskin University, Cambridge, United Kingdom, Mr Dadey delivered a thought-provoking reflection on the theme, “Building African Business Champions to Lead the Green Transition and Inclusive Transformation in Africa". Addressing the gathering, which brought together leading academics, development practitioners and government officials, including the Economic Advisor to the President of the Republic of Ghana, Hon. Seth Terkper, Mr Dadey challenged conventional narratives surrounding Africa’s development, arguing that while the continent possesses immense potential, sustainable prosperity will ultimately depend on its ability to build strong institutions and globally competitive enterprises.

Nations do not achieve lasting prosperity simply because they possess abundant natural resources, favourable geography or large populations,” he noted. “They achieve lasting prosperity because they build strong institutions and competitive enterprises capable of creating value at home while competing successfully within the global economy.”

He observed that discussions about Africa’s future often focus on entrepreneurship, innovation and investment. Yet, insufficient attention is given to the institutions required to sustain these opportunities over the long term. Distinguishing between growth and transformation, Mr Dadey emphasised, "Growth is often the result of opportunity. Transformation is the result of institutions that can repeatedly create value, attract investment, nurture talent and sustain innovation long after the opportunities themselves have emerged.

A central theme of his address was the role of leadership in Africa’s development journey. While acknowledging the importance of physical infrastructure such as roads, ports, energy systems and digital connectivity, he argued that leadership remains the most critical determinant of whether those investments translate into meaningful economic outcomes.

“I often describe leadership as Africa’s most important infrastructure. Infrastructure creates opportunity, but leadership determines whether that opportunity is converted into productivity, competitiveness and long-term prosperity,” he remarked.

The Executive Chairman also highlighted the importance of trans-generational enterprise, describing it as one of Africa’s most underappreciated development imperatives. While acknowledging the remarkable entrepreneurial success stories that continue to emerge across the continent, he cautioned that wealth creation alone is insufficient if businesses and institutions fail to survive beyond a single generation.

“Family wealth must be viewed not merely as an inheritance to be passed down, but as a strategic asset capable of driving long-term economic transformation,” he noted. “The conversation must move beyond what we leave behind for our children and focus instead on what we empower them to build, sustain and grow.”

Mr. Dadey further challenged Africa to rethink its engagement with the diaspora, arguing that the continent has yet to fully harness one of its most valuable development assets. While remittances remain important, he stressed that the African diaspora represents far more than a source of financial transfers.

“The African diaspora represents one of the continent’s greatest reservoirs of human and intellectual capital,” he said, calling for stronger partnerships capable of unlocking diaspora expertise, innovation, investment and global networks in support of Africa’s development ambitions.