By Emmanuel Nduka Obisue
The African Development Bank (AfDB) Group and top private-sector leaders from across the African continent have pledged to intensify collaboration to accelerate Africa’s economic transformation.
AfDB President, Dr. Sidi Ould Tah, announced the renewed partnership during a high-level meeting of industry leaders from West, Central, and North Africa in Abidjan. The session was held a day after the opening of the 13th CGECI Academy, hosted by Côte d’Ivoire’s business confederation, CGECI.
Tah stressed the central role of the private sector in shaping Africa’s future, warning that the continent cannot achieve meaningful growth without it.
“Africa will either develop with the private sector, or it will not develop at all. The Bank Group intends to provide leadership in shaping a new African financial architecture. My vision is to mobilise a wider pool of investments from private-sector partners, multilateral institutions, and regional development banks. This is to help close Africa’s annual financing gap of over $400 billion,” he said.
The AfDB boss revealed that the Bank aims to multiply every dollar raised into $10 worth of transformative investments through innovative financing tools and risk-mitigation strategies.
Business leaders at the meeting, including Ahmed Cissé, President of CGECI, and Célestin Tawamba, President of the Groupement des Entreprises du Cameroun, hailed the dialogue as a “paradigm shift”. They expressed optimism that the partnership would strengthen local banks and boost access to financing, capacity-building, and guarantee mechanisms.
Participants also agreed to maintain continuous engagement with AfDB country offices to sustain momentum and build long-term collaboration.
Tah is expected to continue consultations with business leaders at the Africa Investment Forum in Rabat, Morocco, scheduled for November 26–28, 2025.
