African countries could unlock $100 billion annually in foreign direct investments with adoption of a fair and transparent governance system according to African Development Bank (AfDB) President Dr Akinwumi Adesina.
Speaking at the Kenya Law Society’s 2025 Annual Conference Adesina said Africa’s true wealth lies on its ability to govern its natural resources transparently, enforce contracts fairly, and ensure justice for all citizens.
“Evidence suggests that foreign direct investments move more to countries that have political stability, stable democracies, transparency, and low levels of corruption,” he said.
Dr Adesina attributed Africa’s weak rule of law rankings, debt vulnerabilities, and predatory “vulture fund” cases as a conduit for investors buying national debt at a discount on secondary markets, then exploiting weak legal systems to sue debtor nations for full repayment, plus backdated interest and legal fees.
“When Africa stands for the rule of law, the world will stand with Africa,” said Adesina while delivering his Public Finance, Governance, Justice and Development keynote address at the conference.
He further called for an independent and transparent judiciary, strong regulatory frameworks, public accountability, efficient public service, competition policy, and respect for intellectual property rights to deliver sustainable growth in the continent.
“Justice is not a byproduct of development — it is the foundation of development,” he declared.
He also underlined the vital connection between justice and development, arguing that access to justice must be universal. As such he backed legal aid, digitised courts, and grievance mechanisms that bring the law closer to citizens.
AfDB currently supports procurement and debt transparency reforms, including parliamentary oversight of public borrowing in order to safeguard public funds.
