The African Development Bank Group hosted a high‑level delegation from the UK’s Foreign, Commonwealth and Development Office (FCDO) on April 29, 2026, for the first of two days of talks focused on reforming Africa’s financing and increasing capital flows into the continent. Discussions on day one centered on the Bank’s progress in implementing the G20 reform agenda for multilateral development banks, with a strong emphasis on mobilizing private investment into African projects.
A key highlight was the presentation of the New African Financial Architecture for Development (NAFAD), an initiative led by Bank President Sidi Ould Tah to strengthen coordination among Africa’s financial institutions, regulators, and investors. The Abidjan Consensus, signed earlier this month, committed participants to unlocking domestic savings, building continent‑wide guarantees and shared risk systems, and deepening local capital markets. Mission 300, a joint African Development Bank–World Bank initiative to connect 300 million Africans to electricity by 2030, was showcased as a flagship example of collaborative impact.
The delegation reviewed the Bank’s scorecard against the G20’s 13 recommendations. Of 44 associated actions, six are complete or well advanced, and 29 are underway. Progress on private capital mobilization includes setting targets, agreeing on common measurement frameworks with peer institutions, and helping African countries raise more domestic revenue.
Talks also explored the Bank’s private sector strategy, leveraging its strong relationships with governments, convening power, and on‑the‑ground experience. Non‑sovereign lending reached a record high in 2025, underscoring the Bank’s growing role in private sector financing. Other sessions examined how targeted funding tools help governments prepare investment‑ready projects and how the African Development Fund supports complex cross‑border initiatives in transport, energy, and trade.
The FCDO delegation praised the Bank’s clear direction and identified areas for deeper discussion on day two, including mobilizing domestic capital country‑by‑country, refining private capital measurement, potential collaboration with UK Export Finance, and continued dialogue on NAFAD. Upcoming sessions will also focus on project pipelines, guarantees, corridors, agriculture, and energy.
