The African Development Bank Group has concluded a landmark Consultative Dialogue on the New African Financial Architecture for Development (NAFAD) in Abidjan, Côte d’Ivoire, culminating in the adoption of the 11-point “Abidjan Consensus.” The Dialogue represents a significant step toward addressing Africa’s $400 billion annual development financing gap and advancing a more effective framework for large-scale resource mobilisation.

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As a core component of the Bank Group’s strategic vision, NAFAD is designed to overcome structural obstacles to mobilising capital and to reorganise how capital and risk are deployed across Africa’s financial ecosystem. A key outcome of the Dialogue is the commitment by stakeholders to unlock Africa’s vast domestic savings — estimated at approximately $4 trillion — and channel them into productive investment across the continent. Participants also pledged continued coordination and annual reviews to sustain momentum and track progress.

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The Dialogue brought together a broad cross-section of financial sector stakeholders, including central bank governors, sovereign wealth funds, development finance institutions, and private sector leaders. Through a series of thematic “Labs,” participants contributed to the development of concrete instruments, platforms, and frameworks aimed at building a new financial architecture for Africa.

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The Africa–Southeast Asia Chamber of Commerce (ASEACC) is pleased to note the active participation of its members, including Paulo Gomes, Didier Acouetey, and Abdou Diop of Mazars. Their engagement reflects the role of ASEACC’s network in contributing to critical discussions on financial innovation and sustainable development in Africa.

 

The advancement of NAFAD is expected to create new opportunities for investment and deepen economic collaboration between Africa and Southeast Asia. ASEACC remains committed to supporting initiatives that strengthen cross-regional partnerships and drive inclusive, long-term growth.

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