I recently came across an article about Atlas Oranto Petroleum, a Nigerian firm securing rights to four offshore exploration blocks in Liberia — committing hundreds of millions of dollars to exploration. What struck me even more was discovering that Atlas Oranto operates in 22 African countries, including Equatorial Guinea, Senegal, South Sudan, Uganda, São Tomé and Príncipe, and Zambia. That was news to me
This discovery reframed my understanding of FDI. For decades, African development was synonymous with Western capital. I was thrilled to see that quiet revolution is underway with African capital flowing into African projects, rewriting the rules of engagement.
When a company like Atlas Oranto Petroleum, builds one of the largest footprints of oil exploration licenses across Africa, the story was not just about corporate expansion; it was an undeniable signal of continental confidence. It’s a story of smart African investors backing their own markets, betting on their own people, and building pan-African legacies.
Promoting Continental FDI makes sense on so many levels. Apart from reducing dependence on Western capital and all its conditionalities, African investors understand the nuances of doing business on the continent. While cultural differences exist, they’re far less pronounced than those between Africa and the Global North. Continental FDI will contribute to strengthening regional supply chains and overall intra-African trade. By keeping profits, expertise, and decision-making within the continent, the approach also enhances resilience against global financial shocks with none of the politically skewed perceptions of country risk.
To be fair, Continental FDI has been at work for a long time in Africa notably in Banking, Telecommunications and more recently Fintech but all those investments were driven by individual corporate leaders identifying business opportunities across borders. What’s needed now is a deliberate mindset shift among business and political leaders driven by an understanding that Continental FDI isn’t just a trend; it is the key to unlocking economic resilience, regional integration, and shared prosperity. Alongside the ambitious AfCFTA, the African Union must implement bold reforms that actively promote and incentivize intra-African investments in energy, logistics, and infrastructure. These types of investments are simply too important to leave in the hands of Western or Eastern investors whose main motivation is political self-interest.
Imagine an African consortium winning a Build-Operate-Transfer bid for a continental transport corridor; linking East to West, North to South. The multiplier effect would be enormous: raw materials and finished goods flowing in both directions across borders, regional demand driving on-continent value addition, and African economies rising together. Once you understand why transformative projects like these will never be funded by outsiders, you realize that we must build them ourselves.
It’s time to invest in ourselves and build the Africa we deserve.
