Prominent figures from Africa's private sector expressed optimism about a new beginning with the African Development Bank Group during a significant meeting in Abidjan on Tuesday, led by its President, Dr Sidi Ould Tah.
"We wish to seize this chance to convey our pleasure regarding the renewed connection with the African Development Bank Group. We anticipate that this conversation will soon evolve into a strategic collaboration with African employers' organizations," stated Ahmed Cissé, President of the Confédération générale des entreprises de Côte d'Ivoire (CGECI).
The gathering with African business leaders occurred one day following the launch of the 13th CGECI Academy event, which drew participation from private-sector figures across West, Central, and North Africa, including Morocco.
"In the private sector, the meeting marks a significant change in approach, with the African Development Bank playing a key role," said Célestin Tawamba, President of the Groupement des Entreprises du Cameroun (GECAM).
In his strategic vision as President of the Bank Group, as detailed in the manifesto that led to his election, Dr. Ould Tah urged the institution to gather a broader array of investments, including from private-sector partners, multilateral organizations, and regional development banks, with the objective of substantially narrowing Africa's present annual funding shortfall of more than $400 billion. "By employing innovative financial tools and improved risk management strategies, I am confident that the African Development Bank's aim should be to multiply every dollar of capital, transforming each dollar raised into a productive and impactful investment of $10 or more," he stated in his manifesto.
Dr. Ould Tah, who assumed his position on 1 September as the head of Africa's premier development finance institution, addressed private-sector leaders, stating that the Bank Group aims to take a leading role in shaping the new African financial structure. "In the coming years, the private sector will play a crucial role in the Bank Group's work," he explained, adding, "Africa will either develop with the private sector, or it will not develop at all."
At the meeting, the new president of the Bank Group spent time hearing about the worries and hopes of African business leaders, along with their suggestions for forming collaborations with the Bank Group.
Assistance for African entrepreneurs, availability of financial resources, development of skills within the African private sector, and security measures to enhance the strength of local and regional banks were some of the issues addressed.
Business executives committed to keep communication open and continue discussions with the Bank Group's national offices.
Dr. Ould Tah is set to engage with important stakeholders from the African private sector during the Africa Investment Forum (AIF), hosted by the Bank Group and various other partners in Rabat, Morocco, on November 26 to 28, 2025.
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Tagged: Economy, Business and Finance, Privatization, Labour, International Organizations and Africa, Africa, External Relations
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