African billionaire entrepreneur has renewed calls for stronger African investment in the continent, drawing on his experience building one of Africa’s most successful telecommunications companies.
Speaking about his entrepreneurial journey, Ibrahim reflected on the growth of Celtel, the mobile network operator he founded in 1998. Starting at a time when many global investors viewed Africa as a high-risk destination, the company expanded across multiple countries and played a key role in connecting millions of people to mobile communications services.
Within a few years, Celtel grew into one of Africa’s leading telecommunications firms, attracting hundreds of millions of dollars in investment and serving millions of subscribers across the continent. In 2005, Ibrahim sold the company to Kuwait-based MTC, now known as Zain, in a deal valued at $3.4 billion. The business later became part of a larger transaction when its African operations were acquired by Bharti Airtel for $10.7 billion.
Reflecting on the success of the venture, Ibrahim said the experience demonstrated that Africa offers significant opportunities for investors willing to recognize the continent’s long-term potential.
He argued that African investors should play a larger role in financing development projects, noting that local capital remains underrepresented in investment flows across the continent. According to Ibrahim, greater participation from African businesses and financial institutions would help unlock economic growth and reduce dependence on foreign funding.
The businessman also highlighted the need for African countries to strengthen domestic resource mobilization. He pointed to issues such as illicit financial flows, weak tax collection systems, and underutilized investment funds as areas where substantial resources could be recovered and redirected toward development.
Beyond business, Ibrahim stressed the importance of good governance, transparency, and accountability. Through the Mo Ibrahim Foundation, he has long advocated for stronger institutions and effective leadership as essential foundations for sustainable economic progress.
While acknowledging ongoing challenges, Ibrahim expressed confidence in Africa’s future, citing the continent’s young population as its greatest asset. He encouraged young entrepreneurs to pursue innovation, invest in local opportunities, and help shape the next phase of Africa’s economic transformation.
According to Ibrahim, Africa’s future growth will depend not only on external investment but also on the willingness of Africans themselves to back businesses, industries, and ideas that can drive development across the continent.
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