Prime Minister Gaston Browne has called on leaders in Africa and the Caribbean to overhaul their economic systems, arguing they must prioritise local development over external interests.

He made the remarks while welcoming a delegation led by Nwachukwu Anakwenze, regent of the Abagana Kingdom in Nigeria’s Anambra State, ahead of his installation as king.

Browne said both regions were historically shaped into “extractive economies” by slavery and colonialism, with wealth flowing outward rather than benefiting local populations.

He argued that Africa’s natural resources and Caribbean agriculture helped build prosperity abroad, while leaving their own people underdeveloped.

“We have not reached our full potential,” he said, urging coordinated action to redesign economies to ensure greater local ownership.

As an example, Browne pointed to his government’s decision to block the sale of local banking operations by Canadian institutions to foreign buyers, insisting they instead be transferred to local ownership. He said the move, though criticised at the time, has since strengthened the sector.

The prime minister said bold leadership would be needed to resist entrenched interests and drive reform.

“This is the time for courage,” he said. “We must remain resolute in making decisions that serve our people.”

He added that shifting towards “productive economies” — where wealth is generated and reinvested locally — would be key to long-term development.

Browne also welcomed closer ties with African leaders and said he hopes to visit the Abagana Kingdom in the near future.