Addis Ababa, May 12, 2026 (FMC) — Chairperson of the African Union Commission, Mahmoud Ali Youssouf, has warned that illicit financial flows continue to undermine Africa’s development aspirations by depriving the continent of critical resources needed for investment and economic growth.
Delivering keynote remarks during the opening session of the Africa Forward Summit in Nairobi, Kenya, the AU Commission Chairperson said the gathering comes at a defining moment for the continent and reflects a shared commitment to advancing Africa’s development priorities.
The Chairperson expressed appreciation to the Government and people of Kenya for hosting the summit, which brought together leaders including Kenyan President William Ruto, French President Emmanuel Macron, and United Nations Secretary-General António Guterres.
He underscored that Africa possesses immense natural resources and a rapidly growing youthful population, describing both as critical foundations for the continent’s long-term prosperity and transformative growth.
Highlighting energy as a major driver of competitiveness and industrialization, Mahmoud Ali Youssouf stressed that sustainable economic transformation across Africa will require predictable and long-term financing, much of which, he noted, already exists within the continent.
On regional integration, he emphasized the importance of infrastructure development in strengthening regional connectivity, enhancing value chains and supply chains, and unlocking the full potential of continental integration efforts.
Echoing remarks made by President William Ruto, the Chairperson said Africa’s progress depends on policy coordination, collective action, and sustained commitment from member states.
He further stressed that peace and security remain essential foundations for development, stability, and prosperity across the continent.
Concluding his remarks, Mahmoud Ali Youssouf expressed confidence in Africa’s future, stating that the continent is well-positioned to emerge as a major global growth powerhouse in the coming decades.