Global economist challenges universities to focus on socio-economic development
- Wits University
Pre-eminent economist Professor Jeffrey Sachs unpacked geotectonic shifts during his public lecture at Wits and called on universities to step up.
The global order is shifting toward multipolarity, and Africa is poised to become a significant actor, not a passive observer, argued Professor Jeffrey Sachs during his public lecture presented in the University of the Witwatersrand’s Great Hall on the afternoon of Friday, 21 November 2025.
During his lecture Sachs argued that the world is undergoing “geotectonic shifts”, deep structural changes affecting every dimension of global power. For over 200 years, Western countries enjoyed “outsize economic and geopolitical dominance, but that era is now coming to an end”. Today’s world is multipolar, characterised by multiple centres of economic and geopolitical gravity, including the United States, China, India, Russia, Africa and the European Union.
He described the global technological landscape as undergoing rapid change and shifting power. He emphasised China’s leadership in renewable energy and electrification of transport, industries that the U.S. is neglecting due to vested interests and lack of political vision. He argued that new energy technologies, along with advances in digital connectivity and AI, will “shape the next generation of economic growth”.
Africa, in particular with its enormous renewable energy potential and young population, could position itself strategically to take advantage of the world’s new technological frontier if the continent invests in skills, research, and industrial development.
The Great Hall audience was reminded by Sachs that Africa’s demographic trajectory is one of the world’s most important megatrends.
Africa’s population will grow dramatically through the 21st century, creating the world’s largest youth workforce, a vast emerging consumer market, and a unique opportunity to shape global culture, economics, and geopolitics. Nonetheless, he warned that demographic advantage is not automatic; it requires investment in education, digital infrastructure, health systems, and green industrialisation.
Sachs visited Wits on the eve of the first-ever G20 Heads of State Summit to be hosted on African soil, which took place on 22 and 23 November, 2025. Against this historic background, he argued that Africa has a particular responsibility in the G20 to articulate coherent positions on:
- Global financial reform
- Debt restructuring
- Sustainable development
- Food security
- Climate adaptation and mitigation
- Global health preparedness
- Technology transfer
- Fairer forms of global governance
The G20 taking place in Africa was an indication that the continent is now recognised as essential to global governance. Sachs stressed that Africa must approach this moment strategically, armed with evidence-based policy positions and confident in its ability to shape global conversations.
In the hours before his public lecture in the Great Hall, Sachs attended a session with senior Wits academics and administrators that had been organised by Professor Bob Wekesa of the African Centre for the Study of the United States.
In this meeting, which was chaired by Wits’ Deputy Vice-Chancellor for Research and Innovation Professor Lynn Morris, the global economist Sachs emphasised that in order for Africa to seize the opportunities before it, academic institutions like Wits should position themselves to build the continent’s scientific and policy capacity, shape global agendas, and promote sustainable development.
In this regard, he stressed the need for interdisciplinary research, evidence-based policymaking, training of future leaders, and strong international academic networks.
Sachs praised Wits University’s research contributions, across water, health, governance, and other areas related to the United Nation’s Social Development Goal (SDG). He stressed that Africa’s voice is essential in shaping climate and sustainability policies globally.
Professor Uma Kollamparambil, Head of the Wits School of Economics and Finance (SEF), asked questions of Prof Sachs about how best academics can seek to align inter-disciplinary academic research with the resolution of real world problems.
SEF’s Dr Kenneth Creamer noted in his response that the passion and intensity of Sachs’ ideas are redolent of WB Yeats’ insight that "Education is not the filling of a pail, but the lighting of a fire.”