AfDB and ASIF Deepen Partnership to Finance African Infrastructure

ASIF Chairman and Chief Executive Officer of Morocco's Ithmar Capital, Obaïd Amrane, described the declaration as a practical step towards implementing both the Abidjan Consensus and the goals of NAFAD.

The African Development Bank Group (AfDB) and the African Sovereign Wealth Fund Forum (ASIF) have strengthened their partnership to mobilise more African institutional capital for major cross-border infrastructure projects, marking another step towards increasing homegrown investment across the continent.

The expanded collaboration follows the signing of a declaration of intent in Abidjan on 26 June 2026. The agreement builds on an existing partnership and introduces new investment platforms designed to support large-scale development projects while advancing the New African Financial Architecture for Development (NAFAD), a financing agenda championed by AfDB President Dr Sidi Ould Tah. The initiative aims to channel more African savings into projects that can improve infrastructure, strengthen regional connectivity and support long-term economic growth.

Focus on Infrastructure and Sustainable Growth

ASIF Chairman and Chief Executive Officer of Morocco's Ithmar Capital, Obaïd Amrane, described the declaration as a practical step towards implementing both the Abidjan Consensus and the goals of NAFAD. He said the partnership reinforces the ability of African institutions to mobilise financial resources and direct investment into projects that can transform economies across the continent. Amrane added that ASIF remains committed to working closely with the African Development Bank to ensure the successful rollout of the financing agenda.

The strengthened cooperation is expected to support investments in sectors that are critical to Africa's development, including energy infrastructure, regional transport corridors and other strategic projects that improve economic integration and create opportunities for businesses and communities.

Homegrown Capital at the Centre of Development Strategy

Aida Ngom, Director of the African Development Bank Group's Private Sector Development Department, said the agreement reflects the shared vision of both organisations to increase the role of African capital in financing the continent's priorities. She noted that investments in infrastructure remain essential for promoting inclusive economic growth and creating shared prosperity across Africa. Ngom also said the partnership aligns with the Bank's Four Cardinal Points, which guide its development strategy and investment priorities.

Founded in June 2022 in Rabat, Morocco, the African Sovereign Investors Forum brings together 17 African sovereign wealth investors. The platform promotes cooperation, knowledge sharing and coordinated investment to support Africa's long-term structural transformation. By strengthening their collaboration, the African Development Bank Group and ASIF aim to expand the use of African institutional capital to finance projects that improve infrastructure, encourage regional integration and reduce reliance on external funding sources for the continent's development.