The forum, which brought together senior policymakers, international investors, banking executives, and business leaders from across Africa and beyond, focused heavily on the future of African banking, industrial development, tourism, digital finance, and regional integration. Discussions reflected a growing consensus that Africa’s next economic phase will depend less on raw resources and more on private-sector expansion, intra-African trade, and the creation of stronger regional value chains.
One of the forum’s most closely watched discussions centered on the future of African banking following the release of new analysis by McKinsey & Company showing that banking revenues across the continent approached the $100 billion mark in 2024 and are projected to exceed $107 billion in 2025.
The findings were presented in McKinsey’s latest report, From Potential to Performance: A Snapshot of African Banking, which argued that African banks are increasingly moving from a narrative centered on untapped potential toward one focused on measurable financial performance and profitability.
According to the report, African banks recorded returns on equity averaging around 19 percent in 2024, significantly above the global banking average of approximately 10 percent. The report attributed the sector’s growth to expanding financial inclusion, rising digital banking adoption, and increasing demand for financial services among Africa’s rapidly growing and youthful population.
Speaking during the forum, Mayowa Kuyoro, Partner and Head of Financial Services Practice in Africa at McKinsey, said the continent’s banking sector had “moved decisively from a story of potential to one of performance,” noting that digital transformation and mobile banking continue to reshape financial access across many African economies.
The discussions also highlighted Egypt’s growing role in African investment and industrial expansion. In remarks to Ahram Online, Cheikh Oumar Sylla, Regional Director for North Africa at International Finance Corporation, described the forum as a major platform for connecting governments and private investors around the continent’s most urgent economic priorities.
Sylla said IFC’s annual investments in Egypt exceed $1 billion, with a strong focus on sectors capable of generating employment, including tourism, manufacturing, energy, agriculture, and pharmaceuticals. He noted that job creation remains one of the World Bank Group’s central priorities across Africa, particularly as governments seek to absorb millions of young people entering labor markets each year.
He added that Egypt possesses significant untapped tourism potential, pointing out that the country currently receives nearly 19 million tourists annually while aiming to increase that figure to 30 million visitors over the coming years. According to Sylla, continued investment in infrastructure, hospitality, and transportation could strengthen Egypt’s ability to compete with major international tourism destinations.
Sylla also stressed that Egypt’s industrial base gives it a strategic advantage as a regional manufacturing and export hub serving African, Middle Eastern, and European markets. He highlighted pharmaceuticals as one of the sectors where IFC hopes to expand local production capacity across Africa during the next decade.
Support for small and medium-sized enterprises also featured prominently in discussions throughout the forum. Sylla noted that SMEs account for nearly 80 percent of African economies and remain one of the continent’s main engines for employment and economic growth.
He explained that IFC largely supports SMEs through financing lines provided to commercial banks and financial institutions, allowing local lenders to expand financing for smaller businesses. Around 45 percent of IFC’s Egypt portfolio, he said, is directed toward such financing mechanisms.
The institution is also seeking to increase support for microfinance across the region, which Sylla described as an area with strong long-term growth potential despite still representing a relatively limited share of IFC’s broader investment portfolio.
Beyond traditional sectors, the forum also explored the growing economic role of sports and entertainment industries in Africa’s urban development strategies.
On the sidelines of the event, International Finance Corporation announced a partnership with Zaria Group, co-founded by Masai Ujiri, to develop sports and entertainment districts in major African cities.
The initiative will initially focus on Kigali and Nairobi before expanding into other cities across the continent. Organizers say the projects are designed to support youth employment, strengthen Africa’s creative economy, and stimulate local business activity around sports, media, and entertainment infrastructure.
Ujiri said Africa’s sports economy is expanding rapidly but still lacks the large-scale infrastructure needed to support long-term growth and international competitiveness. He added that the planned developments are expected to create thousands of jobs while helping transform Africa’s cultural and creative industries into broader economic assets.
Elsewhere at the forum, Philip Sigwart, CEO of Baobab, said the company had undergone a major strategic transition following its acquisition earlier this year by Egypt’s Beltone, reflecting growing Egyptian interest in investment opportunities across African markets.
Sigwart described the forum as an important venue for understanding emerging investment trends and strengthening ties among African and international investors. He added that East Africa, in particular, continues to attract attention due to its diversified economies, industrial expansion, and long-term growth prospects.
Held under the theme “Scale or Fail: Why Africa Must Embrace Shared Ownership,” this year’s Africa CEO Forum reflects growing concern among policymakers and investors that Africa risks losing major economic opportunities unless it accelerates regional integration, strengthens local industries, and builds larger African companies capable of competing globally.
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