African Business Leaders Forge New Strategic Ties with AfDB President Ould Tah

In a landmark engagement that could reshape Africa’s development trajectory, key representatives of the continent’s private sector met with Sidi Ould Tah, President of the African Development Bank Group (AfDB), in Abidjan. The meeting marked the beginning of what many leaders described as a "new chapter" in the partnership between Africa’s foremost development finance institution and its private sector engines of growth.

The gathering followed the opening of the 13th CGECI Academy, Côte d’Ivoire’s flagship private-sector forum, which convened business leaders from West, Central, and North Africa, including delegations from Morocco and other key markets.

Private Sector Leaders Welcome “Paradigm Shift”

Ahmed Cissé, President of the Confédération générale des entreprises de Côte d'Ivoire (CGECI), expressed optimism that this new dialogue could rapidly evolve into a strategic alliance:

“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.”

Echoing his sentiments, Célestin Tawamba, President of the Groupement des Entreprises du Cameroun (GECAM), hailed the discussions as a true “paradigm shift” in the way the Bank engages with the private sector.

Bridging Africa’s $400 Billion Funding Gap

At the core of the dialogue was the enormous financing challenge facing the continent. Africa currently faces an annual funding gap exceeding $400 billion, a shortfall that continues to constrain infrastructure development, industrialization, and social progress.

In his election manifesto, President Ould Tah outlined a bold vision for addressing this gap, calling for the mobilization of a wider spectrum of investors—from private companies and sovereign wealth funds to regional development banks and multilateral partners.

He emphasized that the AfDB should leverage innovative financial instruments and stronger risk-mitigation strategies to multiply impact. His goal: transform every dollar raised into $10 or more of productive investment, thereby accelerating development outcomes across the continent.

A Stronger Role for the Private Sector

During the meeting, Dr. Ould Tah reiterated a fundamental principle that will guide his presidency:

“Africa will either develop with the private sector, or it will not develop at all.”

He stressed that the AfDB will provide leadership in building a new African financial architecture, one that recognizes the private sector not as an auxiliary actor, but as a core driver of economic transformation.

Key Issues on the Table

Business leaders took the opportunity to present both their concerns and proposals for deepening collaboration with the Bank Group. Key areas of focus included:

• Supporting African champions: Scaling up successful African enterprises to compete globally.

• Improved access to financing: Easing credit flows for SMEs and large-scale private projects.

• Capacity-building initiatives: Equipping African firms with skills and tools to boost competitiveness.

• Guarantee mechanisms: Enhancing support for national and regional banks to strengthen lending capacity.

The private sector also pushed for continuous dialogue with the AfDB, with agreement to maintain open communication channels through the Bank’s country offices across Africa.

Looking Ahead: Africa Investment Forum in Rabat

This engagement in Abidjan is only the first step in what promises to be a sustained partnership. Dr. Ould Tah is scheduled to meet with key private-sector stakeholders again at the Africa Investment Forum (AIF), organized by the AfDB and its partners in Rabat, Morocco, from 26 to 28 November 2025.

The AIF is expected to be a critical platform for converting dialogue into actionable investment deals, advancing flagship projects, and solidifying the role of Africa’s private sector in shaping the continent’s future.

A Defining Moment for Africa’s Development

The Abidjan meeting signals a recognition that Africa’s development cannot be state-driven alone. With population growth, urbanization, and infrastructure needs mounting, only a dynamic and empowered private sector—supported by a proactive AfDB—can unlock the continent’s full potential.

For many, this first formal engagement between President Ould Tah and African business leaders could mark the beginning of a new era—one where finance, entrepreneurship, and innovation converge to redefine Africa’s growth model.