News

By Prosper Mene

The seventh annual Africa Soft Power Summit brought together women executives, entrepreneurs, policymakers, and creative leaders from across the continent—not to seek opportunities in the usual sense, but to claim ownership of Africa’s growing influence, capital flows, and cultural assets.

Under the overarching theme “Africa’s Compound Interest,” the gathering framed economic growth not as abstract GDP figures, but as a compounding mechanism that must primarily benefit Africans themselves. Founder Dr. Nkiru Balonwu set the tone early, challenging delegates: countries that shape the world align their capital with their culture, talent with markets, and innovation with ownership.

Shifting from Visibility to Value Capture

Key discussions moved beyond traditional empowerment narratives. Panels emphasized women’s leadership as critical economic infrastructure. Uche Ofodile, CEO of MTN Benin, stressed that diverse leadership improves information flows and decision-making within organizations. Joyce-Ann Wainaina of Chui Ventures highlighted stark funding disparities: despite Africa boasting more female entrepreneurs than any other continent, women-founded startups captured less than 1% of venture capital in recent years.

In the beauty and wellness sector— one of the continent’s fastest-growing market, speakers like Sneha Mehta of Uncover and Cheryl Itemere Arunga of Endeavor Kenya argued against category bias that dismisses these businesses as merely “aspirational.” They positioned them instead as drivers of employment, value chains, and cultural confidence.

Concrete Commitments and Bold Visions

High-profile voices reinforced the message. H.E. Zainab Hawa Bangura, Under-Secretary-General of the United Nations and Director-General of the UN Office at Nairobi, declared that Africa is shifting global conversations rather than merely reacting to them. Kenya’s Principal Secretary for Culture, Ummi Bashir, cited culture as the foundation—not the backdrop—of development.

In sessions on the female economy, actress and producer Rita Dominic drew from Nollywood’s history to distinguish visibility from ownership: “Visibility gets you hired. Ownership gets you paid for life.” Fellow panelist Wandia Gichuru of Vivo Fashion Group shared the frustration of advertising dollars flowing out of the continent, while Rukky Ladoja of Dye Lab announced a major step forward—establishing a production facility and innovation center in Ibadan, Nigeria, to build local capacity in the garment value chain.

Day two turned to technology and creativity. Speakers addressed AI sovereignty, narrative control, and the creative economy as “the new crude,” urging Africans to build and own their platforms and stories rather than exporting talent or content for others’ benefit.

A Call for Systemic Change

Throughout the summit, recurring themes emerged: the need for better capital allocation to women-led ventures, stronger local value capture, investment in skills and infrastructure, and deliberate alignment between culture, finance, and human capital. Participants acknowledged progress—such as the scaling of initiatives like the 2X Challenge—but stressed that the real work lies in positioning African businesses to seize available opportunities.

As the event concluded, the message was clear: Africa’s soft power, its culture, creativity, and human talent represents immense compound potential. The women who gathered in Nairobi are determined to ensure that this interest accrues to the continent’s own people, building enduring economic power rather than temporary visibility.

The summit signals a maturing conversation on the continent, one that moves from dependency and external aid toward self-determined growth, ownership, and shared prosperity. For many attendees, it was not just another conference, but a pivotal coordination moment for Africa’s next chapter.