Amadou Hott Unveils Visionary Plan to Reform Africa’s Development Financing

As Africa confronts pressing development challenges and an evolving global landscape, Hott’s campaign signals a timely and strategic recalibration of development financing.

Amadou Hott, the former Senegalese Minister of Economy, Planning, and Cooperation, and current candidate for the presidency of the African Development Bank (AfDB), has revealed an ambitious and comprehensive strategy to transform Africa’s development financing landscape. With a clear focus on self-sufficiency, Hott’s proposals aim to unlock Africa’s vast domestic wealth and empower the continent to take charge of its development agenda, marking a significant shift from reliance on foreign aid and loans to homegrown financial mobilization.

Harnessing Africa's $4.5 Trillion Potential

In a recent op-ed published by Semafor, Hott identified a staggering $400 billion annual gap in development financing across Africa. To address this, he has proposed a bold approach that pivots from dependency narratives to the strategic mobilization of internal resources. He argues that Africa is not a poor continent, but a wealthy one whose riches remain underutilized.

Hott’s plan involves targeting $2.5 trillion in assets held by Africa’s high-net-worth individuals and an additional $2 trillion from institutional investors, including pension funds, sovereign wealth funds, and insurance companies. He emphasizes that unlocking these funds would require the introduction of innovative financial instruments, regulatory reforms, and market-deepening initiatives that create a conducive environment for domestic capital deployment.

Building a Pipeline of Bankable Projects

For these funds to effectively catalyze development, Hott underlines the need for a robust pipeline of bankable infrastructure projects. He advocates for the creation of platforms that not only identify and prepare projects but also work to de-risk them. This, he notes, will attract investment by reducing perceived risks, particularly for long-term infrastructure developments in sectors such as energy, transport, water, and digital connectivity.

By aligning development finance more closely with investment-grade projects and modern risk-sharing mechanisms, Hott envisions an AfDB that becomes the go-to institution for scaling Africa’s growth potential.

Mission 300 and the Drive for Inclusive Growth

In an interview with Forbes Africa, Hott further detailed the pillars of his campaign for the AfDB presidency. A standout proposal is “Mission 300,” an initiative focused on making energy more accessible to 300 million Africans. Energy, he asserts, is the cornerstone of inclusive development, enabling everything from education and healthcare to industry and digital transformation.

Beyond energy access, Hott’s goals include the large-scale creation of jobs, particularly targeting young people and women. By promoting environmentally sustainable industrialization, he envisions a green growth path that aligns with global climate goals while ensuring prosperity and social equity for African populations.

Making the AfDB More Nimble and Efficient

Drawing from his extensive experience within the AfDB—as Vice-President, Special Envoy, and Governor—Hott promises to make the institution more agile. He believes a leaner, faster, and more responsive Bank is essential to meet the urgent needs of member states, especially in a rapidly changing geopolitical and economic environment.

In his interview with African Business, Hott described a leadership style centered on results. His proven track record includes helping restructure UBA Capital in Nigeria, founding Senegal’s Sovereign Wealth Fund, steering the country through sweeping economic reforms, and representing Africa at the highest levels of international diplomacy, including the G7 and G20 summits.

Strategic Leadership at a Critical Juncture

As Africa confronts pressing development challenges and an evolving global landscape, Hott’s campaign signals a timely and strategic recalibration of development financing. He argues that African countries must increasingly look inward and capitalize on their own financial ecosystems to drive sustainable growth.

With his hybrid experience across public and private sectors, Hott presents himself as a pragmatic reformer equipped to bring innovation, stability, and visionary leadership to the AfDB. He promises to center the Bank in Africa’s economic transformation by fostering partnerships, enhancing governance, and expanding its role as a catalytic development financier.

Whether through his focus on energy access, financial innovation, or institutional reform, Amadou Hott's proposals reflect a future where Africa finances its development with its own wealth, talent, and ingenuity.