Mali’s Savings and Local Enterprise Could Unlock Development Finance: AfDB Report

Antoine-Marie Tioyé Sié, the Bank’s Principal Country Economist in Mali, presented the report at a workshop organised by the Bank’s Mali Country Office in Bamako on 10 September.

Mali could finance more of its development by drawing on domestic revenues, national savings, diaspora remittances and the strength of its businesses, according to the African Development Bank's 2026 Country Focus Report. The findings point to opportunities for greater financial autonomy in an increasingly fragmented global environment, with reforms needed to turn these resources into investment that supports economic transformation and reaches more people.

The report recorded economic growth of 5.6% in 2025 despite persistent security, humanitarian and climate-related challenges, describing that performance as a foundation for mobilising additional resources. Its analysis examines Mali's recent macroeconomic performance and financing needs, placing stronger national financial systems at the centre of efforts to sustain growth and spread its benefits more widely.

Building Projects That Can Attract Investment

Antoine-Marie Tioyé Sié, the Bank's Principal Country Economist in Mali, presented the report at a workshop organised by the Bank's Mali Country Office in Bamako on 10 September. Titled "Mobilising Large-Scale Resources to Finance the Development of the Republic of Mali in a Fragmented World", it proposes reforms that could help the country meet growing development needs through a broader range of financing sources.

Cédric Mbeng Mezui, the Bank's Country Manager for Mali, called for a change in how projects are prepared and financed, arguing that credible investment proposals need to come earlier in the process. "We must no longer wait for financing to build projects, but rather build bankable projects to attract financing," he said, stressing that domestic resources would become more important as external aid is expected to decline.

Bringing Savings, Businesses and Regional Markets Into Play

The report identifies stronger domestic revenue collection, the mobilisation of national savings and diaspora remittances as key sources of development finance, alongside a deeper regional financial market and greater private capital participation. It also calls for the gradual formalisation of the informal sector and stronger financial administrations, connecting the search for funding with the institutional capacity needed to manage resources effectively.

Workshop participants highlighted regional financial integration and the development of the West African Economic and Monetary Union (WAEMU) capital market as priorities, together with stronger private sector participation. Their discussions stressed the importance of fully recognising the informal sector's contribution to Mali's economy, giving attention to economic activity that must be understood as part of the country's wider resource base.

The New African Financial Architecture for Development (NAFAD) offers further opportunities, according to the report, and forms a central pillar of Bank Group President Dr Sidi Ould Tah's "Four Cardinal Directions" strategic vision. Turning those opportunities into productive, sustainable investment across Africa will require coordinated action from public authorities, businesses, institutional investors, development partners, financial institutions and civil society.

Making Natural Resource Wealth Count for Communities

Participants also discussed the Local Development Mining Fund, which can increase the resources available to local governments and strengthen the extractive sector's contribution to community development. The discussion placed local financing needs within the broader national debate, drawing attention to how mining-related resources can support the communities connected to the sector.

The report concludes that Mali's natural resources, people, entrepreneurial activity and financial assets could collectively support a larger development effort if matched with appropriate reforms. Mobilising those strengths at scale would put the country in a better position to improve competitiveness, attract investment and accelerate economic transformation over the coming decades, with domestic capacity carrying greater weight in financing that progress.