David Ofosu-Dorte, Senior Partner at AB & David Africa, has predicted a seismic shift in the global economic order, identifying electrical power as the most critical commodity of 2026.

Speaking at the Crystal Ball Africa 2026 programme at the Labadi Beach Hotel on January 22, he warned that the relentless rise of Artificial Intelligence (AI) will turn energy into a primary driver of global inflation.

Under the theme, "The Africa Opportunity - Time to take advantage," Mr Ofosu-Dorte argued that AI’s dependence on energy-hungry data centres will create a "power crunch" in Western markets, potentially driving electricity prices to record highs in the United States and beyond.

Mr Ofosu-Dorte explained that while the world focuses on software, the physical reality of AI is built on power.

He predicted that energy scarcity—and the resulting price hikes—will be the "trigger" for a new wave of inflation across Africa and the world.

“Power is going to be the most important commodity, and because you are talking about energy, going forward, just because of AI. AI thrives on power,” Mr Ofosu-Dorte stated. “If there is one place that will trigger inflation around Africa and the rest of the world, it will be power. Because AI thrives on data centres. Quite a lot of energy is needed.”

China’s Strategic Energy Surplus

In a stark contrast to Western energy bottlenecks, Mr Ofosu-Dorte highlighted China as the only global power likely to remain insulated from the crunch.

By maintaining a surplus and selling power to industries at highly competitive rates—often 4 cents or less per kilowatt hour—China is poised to solidify its dominance in global production capacity.

The Ethiopia Blueprint: Supply vs. Distribution

Turning his attention to the continent, Mr Ofosu-Dorte urged African leaders to shift their focus from mere "distribution" to massive "supply" to attract global industries.

He cited Ethiopia as a prime example of a nation that has successfully used aggressive power production—driven by massive projects like the Grand Ethiopian Renaissance Dam (GERD)—to become an industrial magnet.

“If I were an African leader, I would seek to ramp up our power production, which is what Ethiopia has done. And that's why it's attracting quite a lot of industries,” he advised. “Now, we seem to worry so much about distribution capacity instead of its supply to industries.”

A Historical Context: From Slavery to Silicon

In a provocative historical parallel, Mr. Ofosu-Dorte argued that the "control of resources" has always been the ultimate form of power.

He compared the current race for AI and critical minerals to the era of the industrial revolution and even slavery, noting that "energy" has simply evolved in form.

“At a certain point in time, the real energy that was needed was the human body, and that's where we became slaves,” he remarked. “The ability of one power to be able to control the resources of another gives it that energy, quote-unquote.”

He cautioned that while Africa "controls" critical minerals on paper, it has rarely controlled the value or the power generated from them. He noted that while the transition to green energy led by China is well underway, political shifts in the West—referencing a potential four-year term for Donald Trump—could create temporary turbulence in global climate goals.

Ofosu-Dorte concluded that 2026—the ‘Year of the Fire Horse’—will favour the bold.

For Africa, "taking advantage" means moving beyond the role of a resource provider to becoming a power-producing hub that can fuel the next era of human intelligence.