AfDB and African Sovereign Wealth Funds Align on Infrastructure Funding

This expanded cooperation centers on the New African Financial Architecture for Development, an agenda spearheaded by AfDB President Dr. Sidi Ould Tah to strengthen regional connectivity and long-term economic stability. By pooling resources from 17 member sovereign wealth funds, the initiative seeks to bridge the persistent funding gap in critical sectors, specifically energy infrastructure and regional transport corridors.

Obaïd Amrane, Chairman of the African Sovereign Investors Forum and CEO of Morocco's Ithmar Capital, identified the agreement as a vital mechanism for executing the Abidjan Consensus. Aida Ngom, Director of the African Development Bank Group's Private Sector Development Department, noted that the move directly supports the Bank’s Four Cardinal Points, ensuring that local capital becomes the primary engine for inclusive growth. Since its founding in Rabat in June 2022, the forum has acted as a hub for knowledge sharing, and this deeper integration marks its most significant push yet to reduce the continent's reliance on foreign financing.