AfDB rallies global investors to boost private capital for Africa
The African Development Bank Group (AfDB), together with the Government of the United Kingdom, has moved to accelerate global private investment into Africa as part of efforts to close the continent’s large development financing gap.
The push follows the successful conclusion of the 17th replenishment of the African Development Fund (ADF-17), which raised US$11 billion for Africa’s most vulnerable countries. Building on this momentum, the AfDB convened global investors and private sector leaders in London to shift from commitments to concrete action.
Held on 17 December at Lancaster House, the inaugural Africa Private Capital Mobilisation Day brought together more than 150 senior decision-makers from private equity firms, pension funds, sovereign wealth funds, insurers, philanthropies, and development finance institutions. The event marked a clear focus on mobilising large-scale private capital to support Africa’s development priorities.
The high-level meeting was hosted by the African Development Bank Group in partnership with UK institutions, including the Foreign, Commonwealth and Development Office, UK Export Finance, and British International Investment.
Opening the event, AfDB President Dr Sidi Ould Tah said the initiative was a natural continuation of the ADF-17 process and a decisive step towards addressing Africa’s estimated US$402 billion annual development financing gap.
He noted that the Bank would build on recent engagements with global financial institutions to advance its vision for a New African Financial Architecture, aimed at unlocking Africa’s capital potential and strengthening financial sovereignty.
UK Minister for Development Jenny Chapman welcomed the decision to hold the event in London, highlighting the role of the City of London in mobilising investment for Africa. She said the UK’s evolving role from donor to investor would support African countries seeking sustainable economic growth and reduced dependence on aid.
Discussions during the programme focused on reshaping perceptions of risk in Africa, designing innovative financial platforms, and mobilising capital in fragile and frontier markets. New analysis presented at the event showed that long-term lending to African borrowers has historically been less risky than widely assumed.
Participants also examined opportunities in key sectors such as healthcare and aviation, seen as critical to economic resilience and regional integration. Two flagship initiatives were highlighted: the Africa Medicines and Equipment Facility, developed with the Gates Foundation, and the Integrated Aviation Transformation Programme for Africa, supported by blended finance.
On the sidelines of the event, Dr Ould Tah held closed-door talks with senior institutional investors to explore the creation of an Africa-focused Private Sector Innovation Lab to develop tailored financing and risk-sharing solutions.
The outcomes of the meeting are captured in the London Communiqué, which sets out commitments to scale up private capital mobilisation for Africa, with further work planned to turn these commitments into practical investment solutions.
