Afreximbank’s Research and Innovation Hub Aims to Unlock $70B for Africa

The African Export-Import Bank (Afreximbank) has launched the African Research and Innovation Hub (ARIH), a groundbreaking initiative designed to transform Africa’s innovation ecosystem and unlock as much as US$70 billion annually in economic gains. Announced during the Intra-African Trade Fair (IATF2025) in Algiers, ARIH is positioned as a catalyst for technological sovereignty, intra-African trade, and sustainable economic transformation.

Addressing Africa’s R&D Gap

Africa remains one of the least invested regions globally in research and development (R&D), contributing less than 3% to the world’s total research output. This underinvestment has long hampered the continent’s ability to generate scalable innovations and build resilient economies. ARIH directly targets this shortfall by focusing on commercialising research outputs and strengthening collaboration among academia, industry, policymakers, and investors.

Dr. Yemi Kale, Afreximbank’s Group Chief Economist and Managing Director for Research, described the initiative as a turning point for Africa’s development trajectory:

“The establishment of the African Research and Innovation Hub marks a pivotal moment for Africa’s scientific and technological ecosystem. It signals Afreximbank’s commitment to harnessing Africa’s homegrown talent and transforming Africa’s intellectual capital into industrial competitiveness, trade expansion and sustainable development.”

He added that doubling Africa’s R&D expenditure to just 1% of GDP could release up to US$70 billion in annual economic value, a shift that could fundamentally reshape Africa’s industrial and trade capabilities.

A Vision for Transformational Growth

ARIH aims to become a transformational platform that channels intellectual capital into industrial competitiveness and trade-led growth. According to Dr. Kale, the hub is not only about boosting research capacity but also about ensuring that Africa owns, scales, and benefits from its innovations.

By fostering partnerships between scientists, entrepreneurs, and policymakers, ARIH will support Africa’s quest for technological sovereignty—reducing dependency on imported technologies and driving homegrown solutions tailored to local contexts.

Celebrating Innovation at IATF2025

The launch of ARIH was one of the highlights of IATF2025, which attracted over 112,000 visitors from 132 countries, featuring 2,148 exhibitors and culminating in US$48.3 billion worth of trade and investment deals.

During the fair, Afreximbank recognised 12 groundbreaking projects selected from more than 200 applications submitted by researchers, students, educators, and scientists across Africa and the Caribbean. Winners received awards, certificates, and cash prizes presented by Mrs. Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African Trade and Export Development.

Commending the winners, Dr. Anthony Coleman, Afreximbank’s Director for Development Research, urged them to scale their innovations to address Africa’s pressing technological and developmental challenges.

“We must leverage ARIH as a springboard for collaboration among scientists, innovators, and entrepreneurs to advance Africa’s intra-regional trade and economic transformation,” Coleman said.

High-Level Endorsement

The launch was attended by prominent African policymakers, including Dr. Kamel Bidari, Algeria’s Minister of Higher Education and Scientific Research; Dr. Noureddine Ouadah, Minister of Knowledge Economy, Startups, and Microenterprises; Mr. Kamal Rezig, Algeria’s Minister of Foreign Trade and Export Promotion; Mr. Tiroeaone Ntsima, Lesotho’s Minister of Entrepreneurship and Trade; and Mr. Patrick Thierry Akoloza, Minister of Trade and Industry of the Central African Republic.

Their presence underscored the political will across the continent to anchor economic transformation in science, technology, and innovation.

Toward an Innovation-Driven Africa

ARIH’s creation comes at a time when Africa faces mounting challenges, including climate change, food insecurity, and limited industrial competitiveness. By building a robust pipeline of innovations and ensuring they are commercialised, Afreximbank hopes to accelerate intra-African trade, support sustainable growth, and expand Africa’s role in global value chains.

The initiative also aligns with broader continental frameworks such as the African Continental Free Trade Area (AfCFTA), which requires strong innovation ecosystems to succeed.

With Afreximbank’s financial backing and pan-African vision, ARIH is set to become a key driver of Africa’s transformation, ensuring that the continent’s intellectual capital translates into tangible benefits for its people.