ABSTRACT
Africa currently accounts for 1.1 billion people and the COVID-19 global pandemic has seen its Foreign Direct Investment (FDI) inflows decreased by 16% in 2020. Its historic challenges have become endemic through the resultant human toll, economic disruption, disrupted logistics and debilitating vaccine inequality. Repurposing its FDI flows for development finance is therefore crucial for transcending the post-pandemic era. Refocusing on strategic priority areas can fervently stimulate economic development and ‘holistic knowledge spillovers’ across its labour sectors. Policy roadmaps will be pivotal to maximising such key opportunities in the market size of Africa, its human capital resource, the emerging African Continental Free Trade Area (AfCFTA) and the importance of financial passporting, a green economy and a proposed biopharma industrial cluster among others. With committed action, Africa can attain greater heights, even in the post-COVID-19 age.
