Former Governor of Anambra State and 2023 Labour Party presidential candidate, Mr. Peter Obi, has called for visionary and accountable leadership as a prerequisite for Africa’s development.

Obi made the call while delivering a keynote address at the London Business School, at an event hosted by the institution’s Africa Business Club.

Themed “From Promise to Prosperity: Charting Africa’s Development with Political Will and Vision,” the event drew academics, students, and members of the African diaspora for a critical dialogue on the continent’s growth potential.

Obi argued that Africa’s persistent poverty is not due to a lack of resources but the result of decades of poor leadership and mismanagement.

“Africa is not poor; it is poorly managed,” Obi stated. “We are blessed with about 30% of the world’s known mineral reserves, over 60% of the world’s uncultivated arable land, and 60% of global solar energy potential. Yet, we remain energy-poor and underdeveloped.”

He emphasized Africa’s youthful population as a strategic advantage, noting that over 60% of the continent’s 1.4 billion people are young and potentially productive.

“By 2050, 40% of the world’s youth will be African. This is a huge asset that remains largely untapped,” he said.

Obi decried Africa’s marginal contribution—less than 3%—to global GDP compared to Asia’s over 35%, blaming the disparity on leadership failures.

“Asian countries focus on education, healthcare, production, and poverty reduction. In Africa, we often do the opposite,” he noted.

To reverse this trend, Obi advocated for strategic investment in key sectors such as education, healthcare, agriculture, and infrastructure.

He urged African leaders to redirect public resources from wasteful expenditures to human capital development.

“Africa doesn’t lack potential. What we lack is purposeful, accountable, and competent leadership,” he said.

He stressed that the path from promise to prosperity demands leadership built on character, competence, capacity, compassion, and integrity.

The event formed part of the Africa Business Club’s commitment to engaging influential voices on the continent’s future.

It also reflected the need for African countries to adopt people-centered governance models that foster sustainable development.