Africa: African Development Bank Calls for Mobilization of $400 Billion Annually to Transform the Continent

At the Ambassadors’ Luncheon held in Abidjan, the President of the African Development Bank Group (AfDB), Dr. Sidi Ould Tah, unveiled an ambitious strategic vision for Africa’s future. In a global context marked by geopolitical instability, economic fragmentation, and tighter financing conditions, he stated that Africa will need to mobilize more than $400 billion per year to achieve its economic and social transformation.

Addressing members of the diplomatic corps and international partners, the AfDB President structured his vision around four “cardinal points,” identified as key levers to address the continent’s development challenges.

The first pillar focuses on large-scale capital mobilization. Dr. Ould Tah emphasized the need to better channel African savings and to increase the involvement of the private sector, sovereign wealth funds, pension funds, and institutional investors in financing productive and transformative projects across the continent.

The second cardinal point relates to reforming Africa’s financial architecture. According to him, stronger coordination among African financial institutions is essential to build a new financial architecture capable of reducing reliance on external financing and improving the efficiency and impact of available resources.

The third pillar highlights the importance of leveraging Africa’s demographic dividend. With a predominantly young population, Africa holds significant economic potential. The AfDB therefore advocates increased investment in education, vocational training, youth employment, the digital economy, and support for small and medium-sized enterprises.

The fourth and final point focuses on the development of resilient infrastructure and local value addition. This includes investments in energy, transport, digital infrastructure, and climate-resilient systems, while promoting the local processing of raw materials to create added value and jobs within African economies.

Through this vision, Dr. Sidi Ould Tah called for strengthened partnerships between African governments, financial institutions, the private sector, and international partners. He stressed the importance of a win-win approach, noting that Africa offers attractive investment opportunities capable of generating sustainable and inclusive growth.

This address marks a renewed call by the African Development Bank for financing commensurate with the continent’s ambitions, at a time when Africa’s development needs are becoming increasingly urgent on the global stage.