https://en.sputniknews.africa/20260106/no-one-can-develop-africa-but-africans-economist-on-power-of-locally-managed-wealth-1081877383.html
‘No One Can Develop Africa But Africans’: Economist on Power of Locally Managed Wealth
‘No One Can Develop Africa But Africans’: Economist on Power of Locally Managed Wealth
Sputnik Africa
Africa’s growing control over its own financial resources is reshaping long-held assumptions about power, dependency, and development. As institutions across... 06.01.2026, Sputnik Africa
2026-01-06T10:00+0100
2026-01-06T10:00+0100
2026-01-06T10:00+0100
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‘No One Can Develop Africa But Africans’: Economist on Power of Locally Managed Wealth
Sputnik Africa
Africa’s growing control over its own financial resources is reshaping long-held assumptions about power, dependency, and development. As institutions across the continent manage more capital at home, the conversation is shifting from how much Africa has to who decides how that wealth is used, protected, and invested for the future.
This shift was at the center of a recent conversation with a Ghanian economist, Professor Evans Akwasi Gyasi, who reflected on what it means for African countries to locally manage close to a trillion dollars in assets. Beyond the figures, the discussion focused on sovereignty, institutional maturity, and the long-term implications of Africans exercising greater authority over their own economic direction.
This shift was at the center of a recent conversation with a Ghanian economist, Professor Evans Akwasi Gyasi, who reflected on what it means for African countries to locally manage close to a trillion dollars in assets. Beyond the figures, the discussion focused on sovereignty, institutional maturity, and the long-term implications of Africans exercising greater authority over their own economic direction.Professor Gyasi explained that this moment reflects years of gradual progress in political will, financial regulation, and domestic market development. He stressed that locally managed assets only become meaningful when they are invested within Africa to support infrastructure, industry, and regional integration. In his view, reclaiming control over capital is closely tied to Africa’s ability to define its own priorities, reduce external dependence, and build resilience against global economic shocks.To find out more, tune in to the Global South Pole podcast, brought to you by Sputnik Africa.In addition to the website, you can also catch our episodes on Telegram.► You can also listen to our podcast on Apple Podcasts, Spotify, Deezer, Castbox, Pocket Casts, Afripods, Podcast Addict, Overcast, and Mave Stream.► Check out all the episodes of Global South Pole
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‘No One Can Develop Africa But Africans’: Economist on Power of Locally Managed Wealth
Aliyu Bello
Correspondent, Podcast Host
Africa’s growing control over its own financial resources is reshaping long-held assumptions about power, dependency, and development. As institutions across the continent manage more capital at home, the conversation is shifting from how much Africa has to who decides how that wealth is used, protected, and invested for the future.
This shift was at the center of a recent conversation with a Ghanian economist, Professor Evans Akwasi Gyasi, who reflected on what it means for African countries to locally manage close to a trillion dollars in assets. Beyond the figures, the discussion focused on sovereignty, institutional maturity, and the long-term implications of Africans exercising greater authority over their own economic direction.
Professor Gyasi explained that this moment reflects years of gradual progress in political will, financial regulation, and domestic market development. He stressed that locally managed assets only become meaningful when they are invested within Africa to support infrastructure, industry, and regional integration. In his view, reclaiming control over capital is closely tied to Africa’s ability to define its own priorities, reduce external dependence, and build resilience against global economic shocks.
“I hold a firm belief that no one can develop Africa but Africans […] This shift represents a quiet form of financial decolonization. As African pension funds, sovereign wealth funds, and other domestic assets are controlled by Africans. I think it helps us fashion our own destiny. Many of the times we have overly relied on the IMF and other Western institutions. It is about time that we manage our own affairs, and many a time, most of the handlers of the economies have blamed the West for the misfortunes of Africans. So I think now is the time Africa is rising; now is a time for us to hold the commanding height of the economy,” Prof. Gyasi echoed.
To find out more, tune in to the Global South Pole podcast, brought to you by Sputnik Africa.
In addition to the website, you can also catch our episodes on
Telegram.► Check out all the episodes of Global South Pole 
