Ballim Urges Young Leaders to Invest in Africa
Standard Bank chief economist Goolam Ballim addressed young changemakers at the One Young World Summit in Cape Town.
Updated on Nov. 8, 2026 in Africa
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Standard Bank chief economist Goolam Ballim urged young leaders to invest in Africa's development at the first One Young World Summit in Cape Town, which gathered more than 2,200 changemakers. He addressed the main plenary at the Cape Town International Convention Centre on Friday.
Why it matters
Ballim argued that Africa holds abundant cobalt, platinum, lithium and other critical and rare earth minerals, yet its potential has not translated into prosperity. Structural barriers, including limited electricity, skills, technology, regulation and rule of law, prevent the continent from monetising those resources.
Africa is home to 18% of the world's population and holds 60% of the world's still-available arable land, yet contributes only 4% of global GDP. The stub does not specify how these shares are measured or what timeframe they cover.
The players
Goolam Ballim
Goolam Ballim is the chief economist of Standard Bank, a major South African financial institution, and is known for his analysis of African economic development.
One Young World
One Young World is an international nonprofit organisation that convenes young leaders from around the world through an annual global summit.
The details
Speaking at the first One Young World Summit in Cape Town, Ballim said Africa's mineral resources are largely extracted and exported with little value added on the continent. He also noted that Africa's population of 1.5 billion is projected to reach 2.5 billion by 2050.
Timeline
Friday: Ballim addressed the main plenary at the Cape Town International Convention Centre.
2050: Africa's population is projected to reach 2.5 billion.
Travel Outlook
Ballim's remarks frame Africa's gap between population share and GDP share as the central challenge for investors and young leaders. The source provides no further regional comparison or historical benchmark for this gap.
Readers planning travel to Cape Town should note that the One Young World Summit brought more than 2,200 attendees to the city. The stub does not describe any travel logistics, pricing, or accommodation effects.
The takeaway
Ballim's message is that Africa's large and growing population and vast mineral and land resources represent a major opportunity if structural barriers are addressed. Young leaders who engage with the continent's development may help determine whether that potential is realised.
Further reading
For more on the continent's economic outlook, explore the Africa travel destinations section.
Source note: This article includes information reported by Sunday World.
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