• AfDB President Sidi Ould Tah said Africa needs more than $400 billion annually to finance development.

• He outlined four strategic priorities focused on large-scale financing, financial architecture reform, jobs, and infrastructure.

• He said African institutional investors manage at least $1 trillion that remains poorly allocated to development.

The ninth president of the African Development Bank (AfDB), Mauritanian national Sidi Ould Tah, met diplomats and partners in Abidjan to outline his strategic priorities. He won election on May 29, 2025 and took office on September 1, 2025.

Members of the diplomatic corps accredited to Côte d’Ivoire gathered on Thursday, February 5, 2026 at the Sofitel Hôtel Ivoire in Abidjan for the AfDB’s annual diplomatic luncheon. The meeting marked the first such event chaired by Sidi Ould Tah since he began implementing his mandate.

The ceremony took place in the presence of Nialé Kaba, Minister of State and Minister of Foreign Affairs and International Cooperation, alongside a large majority of ambassadors and representatives of international organizations. Sidi Ould Tah said the strong turnout reflected the importance of strategic dialogue with Africa’s partners.

Mobilizing Resources at the Scale of Africa’s Needs

Sidi Ould Tah described the global environment as “among the most complex and turbulent” and emphasized Africa’s financing gap. “It is estimated that the African continent would need more than $400 billion every year to finance its development,” he said, while acknowledging that AfDB’s own resources cannot meet this need alone.

Against this backdrop, he outlined the “four cardinal points” guiding his presidency. He stressed the need to mobilize large-scale financing by combining traditional partners, private-sector capital, and African resources.

He linked this approach to his previous role as head of the Arab Bank for Economic Development in Africa, where he built close ties with Arab donors. In Abidjan, he said he intends to attract more capital to strengthen AfDB’s lending capacity.

The second pillar of his strategy focuses on building a new African financial architecture. Sidi Ould Tah said Africa does not lack resources but suffers from poor allocation. “Africa does not lack resources,” he said, noting that African sovereign wealth funds, pension funds, and institutional investors manage at least $1 trillion that remains largely invested in assets with limited development impact.

He said the reform aims to improve coordination among fragmented African financial institutions through a three-tier structure at continental, regional, and national levels, with AfDB acting as coordinator. “Together, we could mobilize substantial resources to finance Africa’s development,” he said, adding that discussions have already started with development banks, sovereign funds, and soon central banks.

Demographics, Jobs, and Infrastructure at the Core of the Mandate

The final pillars of the strategy target Africa’s structural transformation. Sidi Ould Tah recalled that Africa is the world’s youngest continent, with a median age of 19, and warned against inaction. “It is essential to develop transformative activities at scale that can create millions of jobs,” he said.

He called for stronger small and medium-sized enterprises, gradual formalization of the informal economy, and reform of education systems with a focus on technical and vocational training.

He said resilient infrastructure must support this agenda by enabling local value creation, broadening tax bases, and anchoring long-term economic transformation.

In conclusion, Sidi Ould Tah reaffirmed his commitment to strengthening partnerships with regional and non-regional shareholders. “Africa needs to invest, but it also needs to offer investment opportunities to the private sectors of its partners,” he said, arguing that this approach underpins shared and sustainable prosperity.

This article was initially published in French by Moutiou Adjibi Nourou

Adapted in English by Ange J.A de BERRY QUENUM