The President of the African Development Bank (AfDB), Sidi Ould Tah, has called for greater mobilisation of Africa’s estimated $4 trillion in domestic savings to fund the continent’s development agenda and reduce dependence on external financing.
Ould Tah made the call during a news conference at the conclusion of the 2026 AfDB Annual Meetings held in Brazzaville, Republic of the Congo.
The meetings, which ran from May 25 to May 29, focused on strategies for accelerating economic growth, strengthening financial systems and enhancing development financing across Africa.
According to the AfDB president, Africa continues to face a significant development financing shortfall estimated at about $400 billion annually despite possessing substantial financial resources within the continent.
He described the situation as one of Africa’s greatest economic contradictions, noting that trillions of dollars in savings remain largely disconnected from investments capable of driving development.
Ould Tah explained that regulatory constraints and concerns about investment risks have continued to discourage institutional investors from committing more capital to African projects.
He noted that pension funds and other major investment institutions often exercise caution because of their responsibility to safeguard contributors’ funds.
To address these concerns, he said the bank is working on various risk-reduction mechanisms designed to encourage long-term investments in African economies.
Among the initiatives highlighted was the African Trade and Development Fund (ATDF), which he described as a key instrument for lowering investment risks and attracting institutional capital.
According to him, the AfDB recently increased its stake in the fund as part of efforts to boost investor confidence and encourage broader participation from development partners and private investors.
Ould Tah stressed that unlocking domestic capital remains essential for achieving economic independence and sustainable development across the continent.
He pointed out that Africa possesses vast natural resources and a rapidly growing population, both of which present enormous opportunities for economic transformation.
The AfDB president noted that while Africa accounts for roughly 18 per cent of the global population and holds more than 30 per cent of the world’s mineral resources, its contribution to global economic output remains relatively low.
He argued that the continent must move beyond exporting raw materials and instead invest in industries that add value, create jobs and strengthen local economies.
According to him, large-scale investments in industrialisation, infrastructure and productive sectors are necessary to unlock Africa’s full economic potential.
Ould Tah also disclosed that the bank’s Board of Directors had approved a roadmap to implement its four strategic priorities alongside a new African Financial Architecture aimed at strengthening development financing mechanisms.
He said the resolutions reached during the Brazzaville meetings underscored a growing commitment to African-led solutions and the mobilisation of domestic resources to drive the continent’s long-term growth and prosperity.