Africa Needs Long-Term Capital, Not Just Aid, Says Shettima

Africa Needs Long-Term Capital, Not Just Aid, Says Shettima

Vice President Kashim Shettima has stated that Africa’s development challenges can no longer be resolved through traditional aid alone.

Speaking at the 2026 Africa Social Impact Summit in Abuja, he emphasized that the continent requires a transition toward more sustainable financial models to address its long-term needs.

The Vice President, represented by his Technical Adviser on Women, Youth Engagement, and Impact, Hauwa Liman, argued that for decades, development has been incorrectly framed as an expenditure rather than an investment.

He called for a shift in perspective, focusing on human capital, productive systems, and digital infrastructure as the primary drivers of growth.

Shettima highlighted that the future of Africa depends on the strategic deployment of diverse financial instruments. He noted that instead of relying on charity, the continent needs “patient capital, catalytic capital, blended finance, and private enterprise deployed at scale and guided by impact” to achieve meaningful progress.

He further explained that impact investing is not merely a rebranded form of charity but a type of “strategic capitalism.” This approach recognizes that long-term financial returns are inextricably linked to the stability of society, the health of the population, and the resilience of local communities and ecosystems.

In a definitive call for a new economic narrative, Shettima asserted “The future of this continent will not be financed by aid alone. It will be financed by patient capital, catalytic capital, blended finance and private enterprise deployed at scale and guided by impact.”