“Africa is not ‘just another market’ - it is the global growth engine of the 21st century”
Haim Taib, President and Founder of Mitrelli Group and the Israel-Africa Institute, spoke at Calcalist’s Forecasts Conference.
Haim Taib, President and Founder of Mitrelli Group and the Israel-Africa Institute, spoke at Calcalist’s Forecasts Conference last week, with a strong message about the looming opportunities in Africa and Israel's lack of presence in the continent.
Taib called on investors to join a $1 billion investment platform he established together with Angola’s Sovereign Wealth Fund, tied to the massive infrastructure initiative known as the Lobito Corridor.
“By 2050, one in every four people in the world will be African, and nearly every second child worldwide will live in Africa. This is not just demography, it is economics. It is consumption, and it is the future,” said Taib in his opening remarks.
According to Taib, the International Monetary Fund estimates that Africa’s economy will surpass $3 trillion as early as 2026, making the continent a strategic destination that must be placed firmly on the agenda of Israeli decision-makers, investors and entrepreneurs.
From a geopolitical perspective, Taib issued a sharp warning that Israel is steadily losing its standing in Africa due to shifting priorities and the absence of a long-term strategy. He contrasted this with other countries that have dramatically expanded their footprint: the United Arab Emirates is now the largest investor on the continent, alongside growing investments from the E.U., the U.S. and China.
Taib added that "expanding the Abraham Accords framework to Africa, particularly if Saudi Arabia joins, could open the door to normalization with additional African countries and drive broad regional growth."
The centerpiece of Taib’s address was a new initiative surrounding the Lobito Corridor- a transcontinental infrastructure project linking the Port of Lobito on the Atlantic Ocean to the Indian Ocean. The project includes a railway designed to transport critical resources for future industries and has already attracted more than $4 billion in U.S. investment.
Taib revealed that he has launched an international private investment platform with a target of $1 billion, focused on developing new cities, industry, and agriculture along the corridor, which serves approximately 40 million people. “We have already secured a $50 million investment from Angola’s Sovereign Wealth Fund, alongside an additional $50 million from our own private investment,” he said, calling on Israeli and international investors to join the initiative.
Taib presented data underscoring Africa’s rise as an emerging economic power: the continent is home to approximately 1.4 billion people, around 60% of whom are under the age of 25. Many African countries maintain annual growth rates of 3%–4%, with forecasts projecting growth of more than 4% in the coming years.
“Africa is leapfrogging technological stages and advancing at a pace unmatched in the Western world,” Taib said, emphasizing that those looking to the future understand that Africa is a global growth hub already placed at the center of policymaking in many countries.
Taib’s call to Israeli investors and entrepreneurs is grounded on his 34 years of on-the-ground experience. He described the national projects led by Mitrelli in Angola- a country that has established modern infrastructure after a long and devastating civil war. “Over the years, we have connected approximately 15 million people to modern healthcare services in Africa and more than 1.6 million people to the electricity grid,” he noted.
He highlighted the Aldeia Nova project, launched in 2003, which created more than 40,000 jobs, as well as the development of 17 new cities now home to over 140,000 residents.
Taib concluded with a call for the State of Israel to provide investment protections, incentives, and diplomatic support to enable Israeli companies to succeed in Africa. He closed with a quote from Nelson Mandela:
“It always seems impossible- until it’s done.”
