March 6, 2025 – The 2025 Ọbafẹmi Awolọwọ Memorial Webinar, themed “Our 21st Century World: Reflections and Projections,” brought together a distinguished gathering of thought leaders, policymakers, and academics from around the world to reflect on the challenges and opportunities shaping the 21st century. Held on March 6, 2025, the event was chaired by former South African President Thabo Mbeki and featured keynote speaker Jeffrey Sachs, a globally renowned economist and sustainable development expert.

The webinar, organized by the Ọbafẹmi Awolọwọ Foundation, aimed to honor the legacy of Ọbafẹmi Awolọwọ, a visionary leader whose commitment to knowledge-driven leadership, economic self-reliance, and social justice remains deeply relevant today.

In her welcome address, Ọlatokunbọ Awolọwọ Dosumu, the only surviving child of the late sage and Executive Director of the Foundation, emphasized the timeliness of the theme, noting the rapid technological advancements, shifting economic paradigms, and evolving geopolitical realities defining the 21st century. She highlighted the need for critical discourse to navigate these changes and shape a more prosperous and equitable future. The webinar focused on four critical sub-themes: the economy, technology (with a special emphasis on artificial intelligence), North-South dynamics, and Africa’s options for development.

Key Observations: A World in Flux

The discussions at the webinar underscored the complex challenges facing Africa and the world. The global economy, while resilient, is fraught with risks, including inflation, debt market instability, and declining productivity. The rise of the BRICS nations, now comprising 10 countries, including Egypt and Ethiopia, is reshaping international trade and finance, challenging the dominance of the G7 and the US dollar. However, the political risk of rising populism in the West and its implications for global economic policies were also noted.

Artificial intelligence (AI) emerged as a central theme, with participants recognizing it as the most consequential development of our time. While AI has the potential to boost global GDP, it also poses significant challenges, including workplace displacement, economic inequality, and the risk of digital authoritarianism. The uneven distribution of AI’s benefits, particularly in the Global South, was highlighted as a pressing concern. Participants warned that without inclusive AI governance, existing global disparities would deepen, reinforcing the dominance of a few nations in the AI economy.

Africa’s unique challenges were also a focal point. The continent faces a multifaceted situation marked by political, economic, and social transformations. Despite its vast mineral resources, Africa’s ownership structures often favour foreign interests, limiting its ability to harness its wealth for sustainable development. The webinar also addressed the urgent need for long-term, low-cost financing for economic programmes, as well as the importance of investing in education, infrastructure, and human development.

Recommendations: A Roadmap for Africa’s Transformation

The webinar concluded with a series of recommendations aimed at positioning Africa for success in the coming decades. Key strategies included:

1. Leadership and Governance: Africa must cultivate competent leaders committed to tackling the continent’s development challenges. The African Union (AU) should play a central role in driving an Africa-wide economic vision.

2. Education and Human Development: Investing in education, particularly for young people, is critical. A 20% return on investment in education makes it a key driver of economic growth. School curricula should be upgraded to equip the youth with skills relevant to the 21st century.

3. Economic Transformation: Africa should aim for an 8% annual growth rate over the next decade, following the economic trajectories of China and India. Regional development banks should be strengthened to provide long-term financing for infrastructure and industrialization.

4. Technology and Innovation: Africa must develop a bold, indigenized AI agenda to avoid digital colonialism. The continent should invest in cutting-edge strategies and plans to transition from being a consumer to a producer of technology.

5. Regional Integration: The Continental Free Trade Area (CFTA) is a vital step, but regulatory barriers must be addressed. Africa should act as a unified bloc, leveraging its collective strength to negotiate better terms in the global economy.

6. Sustainable Development: Africa must shift to more sustainable economic models, prioritizing environmental conservation and climate resilience. The continent should also develop new funding models to reduce dependence on humanitarian aid.

7. Global Engagement: Africa should engage more actively in the global financial market to secure funding for its development. Partnerships with countries committed to long-term development, such as China and India, should be prioritized.

A Call to Action

Awolọwọ Dosumu emphasized that the webinar was more than an academic exercise—it was a call to action. She expressed hope that the discussions would spark innovative ideas and forge pathways toward a more just, prosperous, and technologically empowered world. The Foundation also announced its intention to partner with the Thabo Mbeki Foundation to implement the recommendations from the webinar.

In closing, the Board of Trustees and the Executive Director of the Ọbafẹmi Awolọwọ Foundation extended their gratitude to all participants, including Mbeki, Sachs, and the distinguished panel of guest speakers, for their invaluable contributions. The event served as a fitting tribute to Awolọwọ’s legacy and a clarion call for Africa to claim its rightful place in the 21st century.