Africa cannot achieve a high level of development without better education, but education on its own will not solve Africa’s problems.
Africa’s problems are caused by many things that are not really connected to education. As we see in Kenya right now, there are ethnic tensions within countries. Another problem is that many governments are rather corrupt. A third problem is a severe lack of infrastructure. None of these things will be solved simply by ensuring that every African can read or that there are more African college graduates.
However, education is an important aspect of promoting development. A more educated populace can get better jobs or can create small firms that can grow and promote development. This can create more of a middle class that might demand more infrastructure and better government. Greater prosperity might (though there is no guarantee of this at all) lead to less ethnic conflict.
In these ways, education could help Africa develop even if it cannot solve all of the continent’s problems automatically.