UK, AfDB launch major push to scale private capital for Africa after ADF-17 success

In a parallel closed-door session, President Ould Tah met with senior executives from about 30 top institutional investors to explore the creation of an Africa-focused Private Sector Innovation Lab.

Following the successful conclusion of the 17th replenishment of the African Development Fund (ADF-17), which secured a record US$11 billion for Africa’s most vulnerable countries, global efforts to mobilise private investment for the continent have entered a new phase. The African Development Bank Group and the Government of the United Kingdom convened leading global investors and private sector leaders in London for the inaugural Africa Private Capital Mobilisation Day, signalling a decisive shift from dialogue to implementation.

Held on 17 December at Lancaster House, the high-profile gathering brought together more than 150 senior decision-makers from sovereign wealth funds, pension funds, private equity firms, insurers, philanthropies, development finance institutions, and export credit agencies. The event underscored the shared ambition to dramatically scale private capital flows into African economies to help bridge the continent’s estimated US$402 billion annual development financing gap.

A New Era of Execution: Building on ADF-17

African Development Bank Group President Dr. Sidi Ould Tah described the event as a natural extension of the ADF-17 replenishment process and a major step toward advancing the Bank’s vision for a New African Financial Architecture.

“We will build on recent engagements with development finance institutions, export credit agencies, pension funds, sovereign wealth funds, insurers, and philanthropic partners to advance concrete initiatives,” Dr. Ould Tah said during the opening session.

The Mobilisation Day strongly reflected President Ould Tah’s Four Cardinal Points vision for Africa’s transformation:

• unlocking Africa’s vast capital potential

• strengthening financial sovereignty

• turning demographic growth into a productive dividend

• delivering resilient infrastructure and stronger value chains

UK Signals Shift from Donor to Investor

UK Minister for Development Jenny Chapman emphasised the UK’s renewed commitment to Africa’s investment landscape:“We are delighted that President Ould Tah decided to hold the first Private Capital Mobilisation Day here in London. The UK’s shifting role—from donor to investor—will support countries that want to grow their economies and ultimately exit the need for aid.”

The event was co-hosted by the African Development Bank Group alongside the UK Foreign, Commonwealth & Development Office, UK Export Finance, and British International Investment—demonstrating a coordinated approach to unlocking investment at scale.

Correcting Risk Perceptions and Designing New Financial Platforms

Discussions throughout the day addressed persistent misconceptions about investment risk in Africa. New evidence from the Center for Global Development, based on updated Global Emerging Markets Risk Database analysis, confirmed that long-term lending to African borrowers has historically been significantly less risky than widely believed. This insight is expected to shift investor sentiment and encourage increased institutional participation.

Panels also explored innovative financial platforms aimed at mobilising capital for fragile and frontier markets, including modern blended-finance models, risk-sharing mechanisms, and pipeline development strategies.

Spotlight on Healthcare and Aviation: Two Catalytic Sectors

Participants were introduced to two major sectoral initiatives championed by the African Development Bank Group and its partners:

1. Africa Medicines and Equipment FacilityDeveloped with the Gates Foundation, this platform will provide African countries with predictable, affordable financing to purchase essential medicines, diagnostics, and medical equipment—strengthening health systems and preparedness.

2. Integrated Aviation Transformation Programme for AfricaSupported by blended finance, the programme aims to modernise the continent’s aviation ecosystem. Its focus spans airports, airlines, aviation services, and infrastructure critical to regional integration, tourism, and trade.

Advancing an Africa-Focused Private Sector Innovation Lab

In a parallel closed-door session, President Ould Tah met with senior executives from about 30 top institutional investors to explore the creation of an Africa-focused Private Sector Innovation Lab. The proposed platform would enable co-design of new financing instruments, strategic partnerships, and customised risk-sharing solutions tailored to the needs of African markets.

The London Communiqué: A Framework for Scalable Action

The outcomes of the Africa Private Capital Mobilisation Day are formalised in the London Communiqué, which outlines clear commitments by the African Development Bank Group and its partners to mobilise private capital at scale.

Next steps include developing priority actions, implementation pathways, and investment structures to translate ambition into real, deployable capital—unlocking billions in private financing for Africa’s transformation.