Standard Bank is joining the heads of state, ministers, business leaders and policymakers in Luanda for the three-day 2025 US-Africa business summit that starts today.
At the end of this year, South Africa will host the G20 and B20 — the first time the G20 presidency is held by an African country. This presents an unprecedented chance for the continent to articulate its priorities and influence the global policy agenda in a way that reflects the needs and ambitions of our people.
What we achieve through the summit will feed directly into these broader global discussions. It is an opportunity to help shape an agenda that is fundamental to unlocking our prosperity and strengthening the continent’s place in the global economy.
Africa stands at a pivotal moment.
By 2050, our continent is projected to boast a GDP of about $16-trillion (R290-trillion), underpinned by the world’s youngest, fastest-growing population. Urbanisation is accelerating, and technological adoption is surging. The promise is undeniable. Yet, we also know that potential alone does not automatically translate into prosperity or economic transformation. We need deliberate action, practical partnerships and smart investment to turn Africa’s demographic dividend into tangible, inclusive growth.
That is why the conversations that will take place in Luanda are so important — and why Standard Bank is taking an active role, bringing expertise from our pan-African operations and our New York office to the table. We intend to contribute to real solutions, not just broad statements.
Our teams will be engaging on how to expand trade flows, close infrastructure gaps, deepen capital markets and foster digital innovation — all essential ingredients for building an Africa that thrives on its own terms.
The summit theme, “Pathways to Prosperity: A Shared Vision for US-Africa Partnership”, is a fitting call to action. The US and Africa have a tremendous opportunity to build a relationship defined by mutual benefit and co-investment rather than dependency. Since 2021, more than $18bn in trade and investment deals have been concluded between the US and 47 African countries, while the US private sector has contributed an additional $8.6bn.
These figures are encouraging, but there is much more we can accomplish together, and among the focus areas must be advancing the African Continental Free Trade Area.
The free trade agreement promises to create a single market of 1.3-billion people with a combined GDP of more than $3.4-trillion. More importantly, it has the potential to double intra-African trade by 2035, lift 30-million people out of extreme poverty, and boost incomes for an estimated 68-million people across the continent. This is not theory — it is a practical framework for building resilient African economies and ensuring that the benefits of growth are more evenly spread.
Realising this potential, however, requires resolving some long-standing challenges. Africa’s persistent infrastructure deficit is estimated at about $100bn annually. Roads, ports, rail networks and power grids are the arteries of economic activity; without them, trade agreements remain words on paper rather than engines of real commerce.
This is where partnerships matter deeply. No single government or institution can bridge this gap alone
As Standard Bank, we have long championed regional projects that connect markets, such as the Lobito Corridor, and we continue to play a leading role in structuring blended finance that attracts global capital to African projects.
This is where partnerships matter deeply. No single government or institution can bridge this gap alone. Blended finance, public-private partnerships and innovative funding models are critical tools for mobilising capital at scale and ensuring that projects are bankable and sustainable over the long term.
In the energy space, Africa must navigate a complex path: we need to expand access to reliable, affordable energy to fuel industrialisation and improve livelihoods, while simultaneously aligning with global efforts to reduce carbon emissions. Standard Bank is committed to financing Africa’s just transition.
Our role is not limited to funding. We see ourselves as a catalyst for partnerships that mobilise domestic resources, attract global investors and unlock policy reforms that make Africa an easier, more attractive place to do business. We believe strongly that banking must serve a developmental purpose — creating real economic opportunities for businesses and households alike.
We head into this summit with a clear vision: to use every opportunity to strengthen Africa’s voice and to position our continent as a confident partner in the global economy. The discussions must translate into concrete actions that can feed into the G20 and B20 dialogues later this year. It is not enough to simply meet — we must ensure that commitments lead to deals, that deals lead to projects, and that projects deliver jobs, income and better futures for millions of Africans.
In Luanda, and in Johannesburg later this year, we have a chance to demonstrate that Africa’s growth is not just an aspiration but a practical, investable reality — a story of resilience, innovation and partnership that can benefit not only Africans but the world at large.
• Engelbrecht is CEO for Africa regions at Standard Bank Group
For opinion and analysis consideration, e-mail Opinions@timeslive.co.za
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