Africa is at a pivotal moment in its development, with immense potential waiting to be tapped, according to the Chief Finance Officer of MTN Ghana, Antoinette Kwofie, who believes that the continent’s future success will be determined by how well it invests in its people.
Speaking at the 2025 Africa Prosperity Dialogues (APD) during a panel discussion on “Filling the Funding Gap for Infrastructure,” Kwofie passionately called for a renewed focus on human capital development, emphasizing that Africa’s progress hinges on its ability to nurture homegrown talent.
“Human capital is one of the things we need to get absolutely right if we want to achieve transformation on the continent. Investing in human capital, not just for the technical skills but for the technological skills amongst others, is crucial,” she stated.
The Untapped Potential of Africa’s Youth
Africa’s demographic profile is one of its most significant assets. The United Nations Population Division reports that the continent has a median age of about 19.7 years, making it the youngest region in the world.
In fact, over 60% of Africa’s population is under the age of 25—a stark contrast to the global average of around 42%. Currently, Africa’s population stands at approximately 1.3 billion, with projections suggesting that it could exceed 2.5 billion by 2050. This burgeoning youthful population represents a vast, untapped reservoir of talent and innovation.
However, despite this impressive demographic advantage, challenges remain. UNESCO data indicates that enrollment in tertiary education across many African nations is still lagging behind global averages.
Coupled with youth unemployment rates that, in some cases, soar as high as 30% (according to the International Labour Organization, 2021), it’s clear that significant investments in education and skills training are urgently needed.
Her remarks highlight an undeniable truth that Africa is brimming with potential, yet it continues to depend on external technology instead of harnessing its own capabilities.
“We tend to buy technology from the West when we have so much talent on the continent. MTN has a group of software developers, and they are all Africans developing technology for Africa’s future. It is possible,” she affirmed.
MTN Ghana, for instance, is already demonstrating how local expertise can drive technological advancement. She pointed out that building a strong base of African technology professionals would reduce dependency on foreign solutions and empower local industries to thrive.
By placing human capital development at the center of transformation efforts, Africa can unlock its full potential and set a course toward long-term, sustainable growth.
