Africa's 1.5 billion people are demanding a seat at the table where decisions about trade, finance and climate are made, but the continent's leaders say decades of extractive relationships and institutional exclusion have left them without the tools to turn demographic scale into shared prosperity.
Prime Minister Narendra Modi met Prime Minister Abiy Ahmed Ali on the sidelines of the 18th BRICS Summit in New Delhi from 12-13 September, 2026, nine months after Modi's visit to Addis Abeba elevated the relationship to a Strategic Partnership. Discussions ranged from defence and investment to healthcare, critical minerals, clean energy and capacity building. The contemporary agenda rests upon commercial connections between India and Ethiopia stretching back roughly two millennia, when the Aksumite world traded through the Red Sea port of Adulis with merchants from India. Formal diplomatic relations were established 76 years ago in 1950, with Ethiopia becoming the first African country to open an embassy in New Delhi.
A Hub for African Diplomacy
Addis Abeba isn't merely Ethiopia's capital. As headquarters of the African Union, it's one of the principal meeting points of African diplomacy. Ethiopia therefore matters to India as a country situated at the intersection of African politics, the Horn of Africa and the wider Global South. India has consistently argued that Africa should not merely be discussed in institutions of global governance but should help shape them. That principle was visible when India championed permanent membership for the African Union during its G20 presidency. Ethiopia's presence as a full member of BRICS creates another avenue for African participation, while the New Delhi Declaration's support for Ethiopia's accession to the World Trade Organization adds an important institutional dimension.
Indian companies are among the top three foreign investors in Ethiopia, with more than 675 Indian companies registered with the Ethiopian Investment Commission and investments exceeding $6.5 billion. India is also Ethiopia's second-largest trading partner. Bilateral trade stood at $550.19 million in 2024/25, comprising $476.81 million in Indian exports and $73.38 million in imports. Investment has acquired considerable depth, yet trade remains modest relative to the size and potential of two countries whose combined population exceeds 1.5 billion.
Beyond Raw Material Exports
Africa is also pushing for a bigger role in shaping the global economy, as business leaders, heads of state, investors, policymakers and global partners converged in New York for Unstoppable Africa 2026 alongside the 81st session of the United Nations General Assembly. The fifth edition of the Global Africa Business Initiative's flagship convening drew senior leaders from across business, government and global institutions to the Marriott Marquis in Times Square this month, including UN Secretary-General António Guterres, African Union Commission Chairperson Mahmoud Ali Youssouf and Massad Boulos, Senior Advisor to the President of the United States on Arab and African Affairs.
Guterres called for Africa to have a greater role on the global stage, including a permanent presence on the United Nations Security Council. He said Africa's growing influence in global markets must translate into a stronger voice in international affairs and urged reforms to better reflect the needs of developing countries, particularly in Africa. He also said the continent's natural resources, including critical minerals, should generate more local value and decent jobs rather than simply being exported.
Mahmoud Ali Youssouf said Africa's 1.5 billion people and growing market create a significant opportunity, but the continent must accelerate the development of African value chains and remove barriers to trade to drive industrial transformation. He identified affordable energy, better infrastructure, access to finance, skills, technology and clear standards as critical requirements for Africa to turn its market potential into faster economic growth.
Private Sector Priorities
The private sector took center stage, with the Leaders Panel bringing together Samaila Zubairu, President and CEO of the Africa Finance Corporation; Aliko Dangote, Founder and Chairman of the Dangote Group; Mandy DeFilippo, CEO of Americas, Europe, Middle East and Africa at Standard Chartered; Nonkululeko Nyembezi, Chairperson of Standard Bank Group; Nolitha Fakude, Chairperson of Anglo American South Africa; and Tidjane Thiam, General Partner at Allied Critical Minerals Fund.
Leaders stressed the need to move beyond exporting raw materials, including critical minerals and crude oil, by developing local processing, manufacturing and value chains that create jobs and retain more economic value on the continent. One of the highlights announced was that the US$300 million Nigeria Distributed Renewable Energy Fund had reached its first close, securing its initial capital commitments and moving into operation. Co-managed by the Nigeria Sovereign Investment Authority and Africa50, the fund will provide equity financing to local clean-energy developers, supporting decentralized solutions including solar mini-grids, solar home systems, commercial and industrial power solutions and energy storage. Aligned with Mission 300, which aims to connect 300 million Africans to electricity four years from now by 2030, the fund is designed to mobilize private investment and expand reliable energy access for Nigerian homes and businesses.
Energy was another major focus. Anna Bjerde, Managing Director of Operations at the World Bank Group, and Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, joined discussions on how innovative finance could unlock investment in Africa's power infrastructure and accelerate access to reliable energy. Healthcare also featured within the wider economic conversation. Roche reaffirmed its commitment to advancing breast cancer care through its Africa Breast Cancer Ambition, which aims to help 80% of women diagnosed with breast cancer in Africa survive for at least five years by 2030.
Unstoppable Africa 2026 continued on September 21, two days ago, with further sessions focused on digital transformation, investment, creative industries, sport and Africa's role in the global economy.
Why This Matters:
Africa's push for institutional representation at the UN Security Council, the World Trade Organization and within BRICS reflects a structural reality: the continent holds critical minerals essential to the global energy transition, a growing consumer market of 1.5 billion people, and the youngest population on Earth, yet it remains underrepresented in the institutions that set trade rules, allocate development finance and coordinate climate action. Without local processing capacity, energy infrastructure and access to affordable capital, Africa's resources continue to generate wealth elsewhere while leaving millions without electricity or decent employment. The success of initiatives like the Nigeria Distributed Renewable Energy Fund and the depth of partnerships like India-Ethiopia will determine whether Africa's demographic and resource potential translates into shared prosperity or remains another chapter in extractive economic relationships that concentrate gains in wealthier regions.