Africa needs approximately $1.6 trillion in investment to implement large-scale infrastructure and economic projects, Sudanese Ambassador to Azerbaijan Anas Eltayeb Elgailani Mustafa said at a conference in Baku for Africa Day 2026, Olaylar informs.
"Africa needs approximately $1.6 trillion in investment. We expect to leverage these funds through North-South and South-South cooperation, as well as to maximize the continentchr("39")s vast natural resources," he noted.
According to the diplomat, Africa is already demonstrating resilience and innovative potential, but the continentchr("39")s continued prosperity will depend on a shift from commodity exports to value creation, industrialization, and expanded inclusive participation in the economy.
He emphasized that digital innovation ecosystems, infrastructure corridors, and renewable energy projects are actively developing on the continent.
Furthermore, intraregional trade is growing thanks to the African Continental Free Trade Area.
"Africa continues to face a number of serious challenges, including debt burdens, external economic shocks, high youth unemployment, dependence on commodity exports, the impacts of climate change, and infrastructure financing shortfalls," he noted.
The ambassador also emphasized the importance of deepening regional integration, the free movement of people, goods, and services, and expanding cooperation with international partners and the private sector to achieve sustainable development on the continent.
