The report, an initiative of the Brookings Institution's Africa Growth Initiative, provides critical insights and strategies for addressing the continent's priorities over the next five years.
In his keynote address, delivered virtually, Dr. Ngirente said Africa is on a 'promising growth path,' emphasizing the continent's unique demographic advantage.
"Our continent will soon be home to the youngest and most active labour force in the world, offering huge potential for economic development," he said.
By 2050, Africa is projected to account for 25% of the global population, with nearly 800 million people entering the workforce, according to the report.
Dr. Ngirente stressed the importance of unlocking this potential through investments in human capital, job creation, and modernizing agriculture to ensure food security.
He also called for improved infrastructure for transport and connectivity, a critical enabler for intra-African trade under the African Continental Free Trade Area (AfCFTA).
The Prime Minister praised the AfCFTA as "proof of our collective strength," noting that it connects 1.4 billion people across Africa with a combined GDP of over $3 trillion.
The report echoes this optimism, stating that AfCFTA could increase intra-African trade, which currently stands at just 14%, to levels comparable to other regions like Europe and Asia.
The Foresight Africa Report 2025 highlights that by promoting regional collaboration and innovation, Africa can accelerate its progress toward achieving the Sustainable Development Goals (SDGs). However, the report warns that less than 6% of SDG targets are on track in Africa, underscoring the need for bold and coordinated action.
Rwanda's model of progress
Sharing Rwanda's success story, Ngirente attributed the country's progress to visionary leadership, investment in education, and robust accountability mechanisms.
"We have invested in human capital, focusing on education and skills development, empowering Rwandans to better contribute to inclusive growth," he said, adding that Rwanda has also demonstrated the value of strong institutions, ensuring timely responses to citizens' needs.
The Prime Minister underscored the need for Africa to embrace modern technologies to remain competitive in a changing global landscape. The Foresight Africa Report 2025 highlights that Africa's digital economy could create 230 million jobs and generate $130 billion in economic value by 2030.
On climate change, Ngirente emphasized the urgency of proactive measures, a sentiment echoed in the report, which estimates that nearly 900 million Africans could face climate hazards by 2050. However, the global net-zero transition presents opportunities in green industries, with the potential to generate $2 billion annually and create 700,000 jobs by 2030.
Ngirente concluded his remarks by emphasizing Africa's growing role on the global stage, urging everyone to consider the opportunities and reaffirm their commitment to unlocking Africa's potential.
'Africa is positioning itself as a significant and influential player in the global arena, with the potential to drive sustainable development and enhance the well-being of its citizens. Strengthening and enabling the private sector to support government initiatives is crucial to achieve these goals.'
Wycliffe Nyamasege
