At the 2026 Annual Meetings of the African Development Bank Group African Development Bank Group in Brazzaville, development finance leaders, policymakers, and business executives called for a stronger shift toward private sector-led growth as the main driver of Africa’s structural transformation.
The discussions took place during the African Private Sector Forum, where participants emphasized that private enterprise and intra-regional trade are essential for accelerating industrialisation and building integrated African value chains. The forum highlighted the growing role of SMEs, which make up the vast majority of African firms and employment, but continue to face barriers to scaling due to limited access to finance.
AfDB representatives stressed that the institution’s strategic vision under President Sidi Ould Tah places the private sector at the center of Africa’s development model. The approach focuses on connecting domestic savings, institutional investors, and financial markets with bankable projects capable of driving large-scale economic transformation across the continent.
Speakers from global financial institutions and development agencies reinforced the importance of partnerships in unlocking Africa’s market potential. Representatives from international partners noted growing interest from global investors, particularly where strong local enterprises and stable investment environments are present.
A key theme was the need to accelerate implementation of the African Continental Free Trade Area, which is expected to improve market integration and expand opportunities for small and medium-sized enterprises. Financial infrastructure such as regional payment systems was also highlighted as critical for enabling smoother intra-African trade and currency exchange.
Business leaders and government officials stressed that Africa’s economic future depends on moving beyond extractive industries toward diversification, industrialisation, and innovation. They pointed to emerging projects in mining, energy, and industrial corridors as examples of how private investment can create jobs and stimulate local value addition.
The forum also showcased the AfDB’s Private Sector Development Strategy, which focuses on improving the business climate, financing entrepreneurship, supporting SMEs, and helping build African multinational companies capable of competing globally.
The discussions concluded with a shared commitment to strengthen collaboration between governments, development banks, and private investors to unlock Africa’s full economic potential and drive long-term, sustainable growth.
