African Regional Blocs Rally Behind AfDB’s New Financial Architecture to Unlock $4tn Capital
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Dr Sidi Ould Tah, president of the African Development Bank Group, convened REC leaders on the margins of the 39th AU Summit in Addis Ababa on 15 February to advance NAFA—a home-grown framework designed to unlock Africa’s capital power for infrastructure, industrialisation, and youth jobs. The session included CEOs from the Arab Maghreb Union, COMESA, CEN-SAD, ECCAS, ECOWAS, IGAD, SADC, and the AfCFTA secretariat.
Ould Tah positioned NAFA as more than a financial plan but a “blueprint for Africa’s economic transformation,” enabling the continent to finance development on its own terms through collaboration and leadership. As a pillar of his “Four Cardinal Points” vision, it aims to reform fragmented financial systems and amplify Africa’s global voice.
Regional leaders endorsed the initiative, committing to scale cross-border infrastructure, private sector development, and co-financing platforms with guarantees to de-risk pipelines. They highlighted curbing illicit financial flows as essential to bolster domestic resource mobilisation and fiscal sustainability.
African Union Commissioner Francisca Belobe called out fragmentation in financial efforts, urging RECs to champion African corporates, harmonise policies, and integrate AI skills training to drive industrialisation and regional value chains. AfCFTA Secretary General Wamkele Mene hailed NAFA as an accelerator for trade implementation and infrastructure.
COMESA Secretary General Chileshe Kapwepwe stressed RECs’ role in packaging investable cross-border projects via market research and policy alignment. The session concluded with three pillars: deepening AfDB-RECs coordination, aligning flagship projects with NAFA priorities, and ensuring measurable, inclusive impact.
NAFA positions Africa to mobilise its wealth at scale for Agenda 2063, with AfDB consolidating outcomes into an implementation roadmap for sustained high-level engagement.
