KEY POINTS
- Experts at the AfDB 2026 Annual Meetings said stronger financial systems are needed to mobilise development finance in Africa.
- Speakers highlighted financial integration, domestic capital markets and macroeconomic stability as key drivers of growth.
- Panelists said Africa’s challenge is less about resources and more about effective mobilisation and deployment of capital.
MAIN STORY
Experts have said that Africa’s economic transformation depends on stronger and more integrated financial systems capable of mobilising development finance at scale.
The position was shared at a high-level knowledge event held during the African Development Bank (AfDB) Group’s 2026 Annual Meetings in Brazzaville, Republic of the Congo.
The session, themed “Strengthening and Consolidating Africa’s Financial Systems and Agency in the Changing World,” brought together central bankers, regulators, development finance leaders and legal experts from across Africa and beyond.
AfDB Vice President for Finance and Chief Financial Officer, Hassatou N’Sele, said Africa requires stronger financial systems that can mobilise domestic resources more effectively for development needs.
She said deeper financial integration and stronger institutions would be necessary to attract long-term investment into the continent.
Governor of the Japan Bank for International Cooperation (JBIC), Nobumitsu Hayashi, said lessons from Asia showed that financial integration supported by strong capital markets and local currency financing systems had been critical to sustained growth.
He said, “We are doing a lot of financial integration because it is the real driver of sustained economic growth within Asian countries.”
First Deputy Governor of the Central Bank of the Democratic Republic of Congo, Dieudonné Alimasi, said improving confidence in local currencies would require macroeconomic stability and stronger financial inclusion.
He added that exchange rate stability and digital financial expansion would help widen access to banking services across Africa.
Deputy Governor of the Bank of Central African States (BEAC), Michel Dzombala, said central banks play a key role in supporting regional financial development and improving capital mobilisation.
Managing Director of the African Guarantee and Economic Cooperation Fund (FAGACE), Ngueto Yambaye, said African institutions need stronger collaboration to reduce perceived investment risks.
He said existing guarantee mechanisms still cover only a small share of the continent’s financing needs.
Chief Executive Officer of African Trade and Investment Development Insurance (ATIDI), Manuel Moses, said Africa has significant untapped financial resources that can be better mobilised for development.
He described the African Development Bank’s New African Financial Architecture for Development (NAFAD) as a framework designed to organise and deploy African capital more effectively.
He added that the initiative could help close Africa’s estimated 400 billion dollar annual development financing gap.
Co-Chair of the US-Africa Practice at DLA Piper, Kalidou Gadio, said regulatory and legal barriers must be addressed to improve investment flows into Africa.
He said deeper and more unified financial markets would be required to attract larger volumes of capital.
Chief of Business Development at the Arab Bank for Economic Development in Africa (BADEA), Cedrick Motetcho, said stronger institutional partnerships are necessary to improve financing efficiency.
He said collaboration would help institutions respond faster to development needs.
Carlos Lopes, Honorary Professor at the Nelson Mandela School of Public Governance, said African governments must align macroeconomic policies with long-term development objectives.
He said pension funds and domestic institutional investors should play a larger role in financing structural transformation.
Participants agreed that Africa’s key challenge is not a shortage of resources but the need to mobilise and deploy existing capital more effectively.
THE ISSUES
The discussions highlighted ongoing concerns around financial fragmentation in Africa, limited capital market depth and weak investor confidence. Speakers emphasised that without stronger integration and institutional reforms, the continent may struggle to attract the scale of investment needed for long-term development.
WHAT’S BEING SAID
“We are doing a lot of financial integration because it is the real driver of sustained economic growth within Asian countries,” said Governor of the Japan Bank for International Cooperation, Nobumitsu Hayashi.
WHAT’S NEXT
- Further policy discussions are expected on implementing Africa’s financial integration agenda.
- Development finance institutions are expected to explore frameworks for expanding local currency financing.
- Stakeholders may push for stronger participation of pension funds and institutional investors in infrastructure financing.
BOTTOM LINE
The Bottom Line: Africa’s development agenda increasingly depends on deeper financial integration and stronger institutions. Experts say the continent already has significant capital, but unlocking it will require reforms that improve coordination, investor confidence and market efficiency.
