AfDB and Global Insurers Advance New Push for Africa’s Development Finance
The African Development Bank Group has deepened its collaboration with global insurers and export credit agencies following the successful hosting of its fourth annual Insurer & ECA Day in Rabat, Morocco.
The event, held on 25 November ahead of the 2025 Africa Investment Forum Market Days, brought together more than fifty insurers, brokers, ECAs and risk-mitigation specialists committed to unlocking greater investment flows into Africa.
This year’s gathering reinforced the platform’s strategic purpose: enhancing risk-sharing and credit-enhancement mechanisms to mobilise private capital at scale for the continent’s development.
A major highlight came as Berne Union President Yuichiro Akita announced the African Development Bank Group’s admission as the first multilateral development bank to join the Union – the leading global association for export credit and investment insurance. Akita noted that Berne Union members deployed $140 billion in insurance capacity to emerging and developing markets in 2024.
The Bank Group’s Chief Economist, Dr Kevin Chika Urama, delivered an update on Africa’s economic outlook, emphasising the continent’s resilience and long-term growth potential.
He cited projections showing that the value of Africa’s agricultural technologies and agribusiness markets could reach $1 trillion by 2030, while the continent’s vast renewable energy potential is expected to help grow energy markets to $1.3 trillion within the same period.
Vice President for Finance and Chief Financial Officer, Hassatou Diop N’Sele, underscored the event’s theme, Risk Sharing for Impact: Catalysing Investment Across Africa with Insurance and Guarantees.
She said this year’s edition directly responded to calls from industry partners for earlier engagement, improved visibility of project pipelines, and more predictable collaboration frameworks.
N’Sele added that the Bank Group continues to strengthen private capital mobilisation efforts through balance-sheet optimisation and expanded syndications.
Max Ndiaye, Senior Director for Syndication, Africa Investment Forum and Client Solutions, highlighted the pivotal role of guarantees in attracting insurance capacity. Since 2014, the Bank Group has implemented guarantee transactions worth $2.3 billion, which have helped mobilise approximately $5.2 billion in private capital across eight African countries.
Technical discussions delved into risk allocation for sovereign and non-sovereign deals, underwriting information requirements, and opportunities to integrate insurers and ECAs earlier in the project cycle. The Bank Group’s Risk Office outlined its approach to risk management and noted that, according to the Global Emerging Markets Risk Database, Africa records the world’s highest recovery rate on defaults.
The event concluded with the presentation of the African Development Bank’s 2026 transaction pipeline, valued at more than $20 billion. Key projects include Ethiopia’s $12 billion Bishoftu International Airport and Angola’s Unicargas Project, for which the Bank Group serves as mandated lead arranger.
In her closing remarks, Senior Vice President Marie-Laure Akin-Olugbade praised the Insurer & ECA Day as a central component of the Bank Group’s mobilisation agenda, aligning directly with President Sidi Ould Tah’s Four Cardinal Points vision.
