AfDB Annual Meetings Spotlight Private Sector’s Role in Africa’s Development

On the fourth day of the African Development Bank Group’s (AfDB) Annual Meetings in Abidjan, Côte d'Ivoire, a pivotal seminar focused on unlocking business opportunities with the Bank brought together private-sector leaders from 40 African countries, marking a significant step in enhancing collaboration between the Bank and the continent’s entrepreneurial ecosystem.

Held under the broader umbrella of the AfDB’s Annual Meetings 2024, the seminar aimed to demystify the Bank’s procurement processes, financing policies, and project engagement pathways for private entities. The session provided a platform for entrepreneurs, investors, and developers to engage directly with senior Bank officials, raising questions, sharing project ideas, and exploring potential partnerships.

“Africa will not develop without a robust private sector. This seminar should give you a better understanding of how the Bank operates and how to work with us,” said Gauthier Boulard, Senior Director of Resource Mobilization and Partnerships at AfDB, in his keynote address.

Clarity on Procurement and Integrity Standards

A significant portion of the seminar focused on AfDB’s procurement plan, which outlines the mechanisms through which businesses can participate in Bank-funded tenders, contracts, and consulting services. Attendees were briefed on key elements such as:

• Eligibility requirements for African and international companies

• Transparency and anti-corruption policies

• Digital application procedures and project bidding standards

Bank officials emphasized that integrity and compliance are central to all AfDB operations, and that projects receiving funding must adhere to strict governance and accountability benchmarks.

Ten-Year Strategy and Support for Transformative Projects

As the Bank rolls out its Ten-Year Strategy 2024–2033, officials shared that a greater emphasis will be placed on transformative projects—those that not only deliver value to individual countries but also create ripple effects across regional markets, industries, and communities.

“We are ready to support the private sector,” said Ronald Rateiwa, Senior Strategy, Policy and Infrastructure Officer at AfDB. “The projects we seek to finance must disrupt, modernize, or catalyze change in the sectors and markets they target.”

Rateiwa underscored that the Bank’s vision is grounded in scalability, sustainability, and innovation, with an eye on delivering long-term value that aligns with Africa’s development goals and climate commitments.

Real Projects, Real Dialogue

One of the session’s highlights was the active participation of entrepreneurs who pitched real-world projects and sought guidance on accessing support from AfDB. Among them was Cheikh Ibra Faye, Director of Faye Groupe Services, which operates in Senegal, Mali, and Côte d'Ivoire.

Faye shared his plan to replace urban transport fleets in West Africa with renewable energy-powered vehicles, asking about potential financing and technical assistance.

In response, Aude Apetey-Kacou, Manager of Private Sector Operations for West Africa, confirmed that the project aligns with AfDB’s priorities in urban mobility and green infrastructure.

“The Bank finances urban transport. So the fleet project meets one of our criteria. We would need to discuss the project in more detail, including its structure, current financing, and feasibility studies,” she said.

Diverse Ideas Across Sectors

Several other innovative project ideas were discussed during the session, including:

• Biometric labs for early cervical cancer detection

• African-owned social media platforms

• Use of satellite imagery for agricultural intelligence

• Financing for youth-driven small and medium-sized enterprises (SMEs)

These proposals reflect the diverse entrepreneurial spirit emerging across Africa and the willingness of the AfDB to serve as a catalytic partner in sectors beyond traditional infrastructure and finance.

“Health is a key sector that the Bank intends to support and is already involved in. There are other sectors that are just as important, and we'll have the opportunity to talk about them again,” said Boris Honkpehedji, Senior Manager of Private Sector Operations at the Bank.

Snapshot of AfDB’s Investment Landscape

As of 31 December 2024, the African Development Bank Group’s portfolio reflected a strong focus on finance and infrastructure. Its financing was distributed as follows:

• 46% to the financial sector

• 16% to energy

• 15% to industry

• 9% each to transport and agriculture/social affairs

• 5% to multi-sector initiatives

This breakdown highlights the Bank’s core areas of engagement, while also illustrating opportunities for new partnerships in healthcare, digital innovation, and environmental sustainability.

A Pathway to Africa’s Private Sector Future

The seminar reaffirmed AfDB’s commitment to strengthening the private sector as a driver of inclusive economic development. By offering clear insights into its operations and policies, the Bank has opened the door to greater collaboration with Africa’s business leaders, innovators, and development practitioners.

As the continent faces pressing challenges—from urbanization and unemployment to climate change and infrastructure deficits—the AfDB is positioning itself not just as a financier but as a partner in Africa’s transformation.