Building Global Africa Through Harnessing the $4 Trillion Diaspora Economy

In a powerful address at the African Diaspora Day during the Intra-African Trade Fair (IATF2025) in Algiers, Prof. Benedict Oramah, outgoing President of Afreximbank, issued a compelling call to action. He framed the current moment as a critical opportunity to transform the global African community, both on the continent and throughout the diaspora - into a cohesive, self-reliant economic powerhouse.

The speech, delivered on 5th September 2025 and on the centenary of Pan-Africanist thinker Frantz Fanon, moved beyond symbolism to lay out a concrete economic vision. This vision, termed 'Global Africa,' is defined as Pan-Africanism underpinned by markets and capital owned and controlled by people of African descent.

The numbers speak for themselves. The global African community, with a population of around two billion people and a combined GDP of approximately US $4 trillion, represents an economic bloc of staggering potential. This 'integrated, ring-fenced economy,' as Prof. Oramah described it, presents an unparalleled opportunity for internal trade, investment, and shared prosperity.

However, this potential has largely remained latent. For too long, the narrative has been defined by fragmentation, a divide-and-conquer legacy that has prevented this vast community from leveraging its collective strength.

Prof. Oramah highlighted a poignant example: the world of sports. People of African descent are renowned for producing elite athletes, from sprinters to football stars. Yet, the economic architecture surrounding these talents is often owned and controlled by others. The result is that the community provides the labour (sweat labourers) while external entities act as 'sweat merchants,' reaping the vast majority of the financial rewards.

This pattern repeats across industries. From commodities and manufacturing to the creative arts. The core challenge is not a lack of talent or resources, but a failure to create and control the markets and distribution channels for what we produce.

The future roadmap outlined by Prof. Oramah involves building strong institutions to channel this collective will. These include The Global Africa Commission, which is proposed as the institutional vehicle to drive this agenda forward, ensuring sustained effort beyond individual events

In addition, the Global Africa Athletics Championship and an Expanded Unity Cup are proposed sporting events which are more than games; they are strategic tools for economic integration. They aim to formally harness the sporting prowess of the diaspora and the continent, creating new commercial opportunities, branding, and economic value that benefits the athletes and their communities directly

The message from Algiers is clear - the era of fragmentation must end. The future of Global Africa depends on deliberate actions to produce within our communities, sell within our communities, and take pride in consuming what we produce.

The IATF2025 serves as a living example of this potential, connecting African and diaspora businesses with financiers and partners. The path forward is built on regaining confidence in our own abilities and systematically building the structures that will allow a united Global Africa to finally harness its US $4 trillion potential The foundation has been laid. The next step