Brian Kagoro Managing Director of Programs and the Africa Geo Lead - Open Society Foundations speaking at the 10th East Africa Philanthropy Network./Photo curtesy.
Discussions about development in Africa often focus on funding shortages, declining aid, and the challenge of raising more resources.
Speaking at the ongoing 10th East Africa Philanthropy Conference (EAPC) in Addis Ababa, Brian Kagoro offered a different perspective.
Kagoro, Managing Director of Programs and Africa Geo Lead at Open Society Foundations, encouraged delegates to think beyond the idea that Africa lacks capital.
Instead, he highlighted the resources that already exist across the continent and asked who gets to decide how they are used.
During his keynote address, Kagoro pointed to several figures. Africans living abroad send an estimated US$100 billion home each year.
He also noted that about US$4 trillion is held in domestic savings, while African pension funds hold a further US$1.8 trillion.
These resources, he argued, show that Africa has significant financial capacity of its own.
“The capital was always here and the only thing imported was the blueprint,” Kagoro told delegates.
His presentation came at a time when many organisations are adjusting to reduced aid flows and growing pressure to find sustainable sources of funding.
While acknowledging these challenges, Kagoro argued that the discussion should not focus only on what is missing, but also on how existing resources can be better used to support African priorities.
A key theme of his address was the need for greater ownership of development financing.
He called for what he described as “capital designed in Africa and answerable to Africa,” stressing the importance of local institutions and communities having a stronger role in shaping decisions.
The 10th East Africa Philanthropy Conference, currently underway at the Ethiopian Skylight Hotel in Addis Ababa, has brought together philanthropy leaders, civil society organisations, funders, and development practitioners from across the region.
As discussions continue, Kagoro’s keynote has contributed to an important conversation about resources, leadership, and the future of African philanthropy.
“The future is not waiting,” he said.
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