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Managing Director of Sahara Group, Kola Adesina, has said that Africa’s true progress depends on corporate leaders channelling their expertise toward inclusion and governance reform, much like Singapore did in transforming its economy.
Speaking at the 2025 Annual Directors Conference of the Chartered Institute of Directors Nigeria (CIoD Nigeria), themed “Leading Through Change: Building Sustainable and Inclusive Enterprises,” Adesina emphasised the need for business leaders to step beyond the confines of the boardroom and influence national development.
According to him, “Africa’s corporate leaders must now step beyond the boardroom to champion governance reform, inclusive investment, and innovation ecosystems that transform enterprise into a purposeful engine of sustainable national development.”
He noted that despite the continent’s abundant potential, Africa remains “largely in a shadow.” Using a striking metaphor, Adesina said, “Imagine the world at night. A vast landscape lit by billions of lights. One in every five of those lights should shine from Africa. Yet, when we look from space, you see only a faint glow.”
He explained that the problem was not a shortage of resources but a failure of systems linking potential to productivity. “That is not for lack of fuel. It is because the wires that connect our potential to productivity are still broken. Our task, therefore, is simple, yet profound — to connect the wires, to ignite the current, and let Africa shine in full brightness of light,” he said.
Adesina observed that while Africa has no shortage of innovative ideas, implementation remains weak. “Africa is never short of big ideas. We have quite a number of museums of ideas that people have generated over the years. But the question is, why are we not making progress?” he asked.
Drawing from two decades of boardroom experience, he reflected that “prosperity without national progress is hollow.” He added that although businesses across Africa have mastered “strategy, risk, accountability, and performance,” national prosperity will remain elusive “if our neighbours still remain in darkness, our youths are still searching for work, and our entrepreneurs still struggle to survive.”
He argued that nations, like corporations, must align governance, innovation, and performance to achieve success. “It is time for the nation to benefit from the collective wisdom that drives the boardroom. Just as a successful enterprise aligns strategy, accountability, innovation, governance, and performance, so too must a successful nation,” he said.
Referencing Singapore’s transformation, Adesina said the Southeast Asian nation offers a practical model for Africa. “At independence, Singapore chose to run its nation like a corporation — driven by efficiency, meritocracy, and measurable outcomes,” he recalled, noting that decisions there were made “with speed, clarity, and discipline.”
Adesina concluded with optimism, asserting that “Nigeria, indeed Africa, can do the same.”
