The AfDB (African Development Bank) plans a Pan-African Financial Coordination Platform to unify regional financial institutions.
President Dr Sidi Ould Tah revealed the initiative after he consulted key finance leaders across the continent.
The platform aims to improve collaboration, strengthen capital bases, and ensure development funds reach projects efficiently.
“As African countries require massive resources, cooperation among Development Finance Institutions becomes increasingly critical,” Ould Tah said.
He stressed that regional DFIs work closest to beneficiaries, so we must reinforce their financial capacity to meet mandates.
Consultations And Task Force
Earlier, the AfDB consulted African securities exchanges to gather broad industry input before finalising the framework.
Next, a dedicated task force will tackle concerns raised during consultations, including de-risking, equity strengthening, access to concessional finance, and liquidity support.
Furthermore, Ould Tah will engage private-sector leaders and global rating agencies in London in mid-December, following the 17th African Development Fund replenishment.
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Regional Leaders Emphasise Urgency
Top executives from leading DFIs attended the meeting, including the ECOWAS Bank for Investment and Development, the Eastern and Southern African Trade and Development Bank, the West African Development Bank, Shelter Afrique, and the Africa Finance Corporation.
Meanwhile, President of the Eastern and Southern African Trade and Development Bank, Admassu Tadesse, emphasised the urgent need for stabilising tools to support growth and strengthen the sector.
Ultimately, the platform positions Africa’s financial institutions to work together more effectively and advance the continent’s development goals.
