Africa Shapes Collective Agenda at Summer Davos 2026 in China
The 17th edition of the annual WEF Annual Meeting of the New Champions took place in Dalian from 23 to 25 June 2026. This edition saw the remarkable rise of Africa on the global agenda. Actually, Samalia Zubairu, Chair and CEO of the Africa Finance Corporation (AFC), served as co-chair of the Meeting. Other than AFC, the Afreximbank was represented by its EVP George Elombi. Wamkele Mene, SG of the AfCFTA Secretariat was also in attendance.
Several African leaders of state or government also made a remarkable appearance in Dalian. Among them, Egypt President Abdel El-Sisi, Morocco PM Aziz Akhannouch, Mozambique President Daniel Chapo, Ghana President John Mahama, DRC President Felix Tshisekedi, Sierra Leone President Julius Bio, and Equatorial Guinea President Teodoro Mbasogo.
The shift in China’s strategy toward Africa can be summed up in three phrases. Firstly, China is delocalizing some manufacturing to Africa in response to the industrialization drive and in line with the local beneficiation policy of African countries. As first raised during FOCAC, China is favoring more ‘Small, Yet Beautiful’ projects that bring about tangible benefits for local communities and moving away from ‘face-enhancing’ megaprojects which are not always bankable. Thirdly, both China and Africa are on the same page with regard to the #ClimateChange and will work together to foster more sustainable projects in line with UN #SDG.
One of the key challenges of Africa has been the high cost of capital due to perceived high risk, that is slowing down its development. Thus, the AFC is promoting novel multi-layered risk-mitigating mechanisms. At the early stage, AFC will support project preparation. At project implementation, the AFC will employ blended finance to derisk projects and mobilize funds from both the public and private sectors.
At the same time, guarantees and insurances will be made available to enhance the comfort level of investors and financiers. Finally, the AFC advocates the leveraging of pension funds and sovereign wealth funds to boost financing. The AFC measures are part of the larger momentum to reform the Globa Financial Architecture that is more friendly to the #GlobalSouth.