The African Development Bank Group and the African Forum of Deposit Funds have forged a strategic alliance in Cotonou, Benin, to mobilize long-term financing for sustainable development across the continent.
Channelling Public Savings Into Productive Growth
According to joint announcements published by the African Development Bank, the partnership seeks to channel public savings into productive investments, enhance economic resilience, and drive inclusive growth. The African Forum of Deposit Funds operates as an exchange platform for public financial institutions that collect and manage long-term public resources for economic and social development.
Navigating Global Uncertainty Through Institutional Cooperation
The structured framework respects the institutional diversity and complementary mandates of both entities. According to the two pan-African institutions, the cooperation addresses geopolitical and economic uncertainties, climate-related disruptions, global shocks, market dependencies, and socioeconomic divides.
Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank Group, emphasized the necessity of collaborative action.
“In a context marked by global economic uncertainty and the need to mobilise more resources for development, no institution can act alone,” Attout said. “By strengthening our cooperation with the African members of the African Forum of Deposit Funds, we are creating the conditions for more effective mobilisation of long-term financing to support Africa’s economic transformation, job creation and the resilience of our economies.”
Uniting Savings and Investment Capacity
Maryse Lokossou, Managing Director of the Caisse des Dépôts et Consignations du Bénin and current Chair of the African Forum of Deposit Funds, pointed to the unique role deposit funds play in national development.
“African deposit funds have a unique capacity to mobilise long-term savings for national development,” Lokossou stated. “By combining our expertise and investment capacity with those of the African Development Bank Group, we aim to accelerate financing for projects with significant economic and social impact and help build more resilient and inclusive African economies.”
Targeting High-Potential Sectors and Operational Goals
The partnership outlines several concrete operational targets designed to scale up development finance:
- Co-financing projects and executing joint operations across high-potential sectors
- Mobilizing resources at scale through coordinated mechanisms
- Developing specialized investment vehicles and platforms dedicated to productive investment, entrepreneurship, and job creation
- Expanding knowledge sharing and institutional capacity development
- Advancing solutions that bolster the resilience of African economies against external, financial, and climate-related shocks
Alignment Under the New African Financial Architecture
Activities under the alliance will align with national and regional priorities. Both organizations committed to promoting a predictable and inclusive African financial system aligned with the New African Financial Architecture for Development, cementing their focus on impact-driven cooperation.
