African Development Fund approves $3.48 million financing to boost industrial and trade capacity in five African countries

The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has approved $3.48 million in funding to strengthen industrial and trade capacities in Cameroon, Chad, Comoros, Madagascar and Togo.

The financing aims to help these countries improve the implementation of the African Continental Free Trade Area (AfCFTA) and accelerate their industrial development by enhancing competitiveness, trade facilitation and private sector capacity.

The initiative is designed to support national institutions and economic actors in adapting to the requirements of the continental market, enabling businesses to better access regional value chains and benefit from new trade opportunities created by the AfCFTA.

By improving industrial capabilities and strengthening commercial ecosystems, the programme seeks to promote economic diversification, increase local production and support the integration of African economies into regional and global markets.

The investment comes as African countries continue efforts to maximise the benefits of the AfCFTA, the world’s largest free trade area by the number of participating countries, with the ambition of boosting intra-African trade and creating new opportunities for industrial growth.

Through this support, the African Development Fund reaffirms its commitment to accelerating Africa’s industrialisation and helping countries build more competitive and resilient economies.