ABIDJAN, Ivory Coast – Key representatives of Africa’s private sector welcomed the prospects of a fresh start with the African Development Bank Group (AfDB) in Abidjan on Tuesday, at a groundbreaking meeting with its President, Sidi Ould Tah.
“We would like to take this opportunity to express our satisfaction at this renewed relationship with the African Development Bank Group. We hope that this dialogue will rapidly develop into a strategic partnership with African employers’ organizations,” declared Ahmed Cissé, President of the Confédération générale des entreprises de Côte d’Ivoire (CGECI).
The meeting with the African business leaders took place a day after the opening of the 13th CGECI Academy event, which was attended by private-sector representatives from West, Central and North Africa, including Morocco.
“For the private sector, the meeting itself represents a paradigm shift with the African Development Bank,” commented Célestin Tawamba, President of the Groupement des Entreprises du Cameroun (GECAM).
In his strategic “vision” as President of the Bank Group (the manifesto on which he was elected), Mr Ould Tah called on the institution to mobilize a wider range of investments, from private-sector partners to multilateral institutions and regional development banks, with the aim of significantly reducing Africa’s current funding gap of over $400 billion a year. “Through innovative financial instruments and enhanced risk mitigation strategies, I am convinced that the African Development Bank’s goal should be to multiply every dollar of capital, converting each dollar raised into a productive and transformative investment of $10 or more,” he notably wrote in his manifesto.
Dr Ould Tah who took office on 1 September as the head of Africa’s leading development finance institution, told the private-sector leaders that the Bank Group intends to provide leadership in defining the new African financial architecture. “In the years to come, the role of the private sector will be important in the work of the Bank Group,” he explained, because “Africa will either develop with the private sector, or it will not develop at all”.
During the meeting, the new Bank Group’s president took time to listen to the concerns and expectations of the of the African captains of industry, as well as their ideas for developing partnerships with the Bank Group.
Support for African champions, access to financing, capacity-building for the African private sector, guarantee mechanisms to boost national and regional banks were among the topics discussed.
The business leaders agreed to maintain dialogue, and open channels of communications with the Bank Group’s country offices.
Dr Ould Tah is scheduled to meet with key stakeholders of the African private sector at the Africa Investment Forum (AIF) organized by the African Development Bank Group and several other partners in Rabat, Morocco, from 26 to 28 November 2025.
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