On April 22, 2025, on the sidelines of the World Bank/ IMF Spring Meetings, Development Reimagined together with the Alliance of African Multilateral Financial Institutions (AAMFI) convened a high-level panel discussion titled “Maximizing the Impact of Africa’s Multilateral Financial Institutions – What Next?” at the Center for Strategic and International Studies (CSIS). The event brought together policymakers, financial experts, and development practitioners to deliberate on how the Alliance can grow and further promote the interests of its member states and shareholders, including by leveraging innovative financing instruments
The discussion centered on the best practices, potential challenges, and opportunities for collaboration to unlock the full potential of the AMFIs. Panelists spoke about the impact of high borrowing costs and limited access to concessional finance, which hinder progress towards achieving Agenda 2063 and the Sustainable Development Goals. Panelists also examined the role of AMFIs, vis-à-vis traditional multilateral lenders like the World Bank and IMF, in mitigating these challenges and proposed innovative solutions to strengthen their impact.
Mr. Mvemba Phezo Dizolele, Director and Senior Fellow at Africa Program, provided opening remarks, highlighting the importance of such discussions and how institutions such as AMFIs can engage in partnerships with the rset of the world joining them, whether be it premiums in credit ratings etc.
The thought-provoking panel was moderated by Ms Hannah Ryder, CEO of Development Reimgained, and Senior Associate (Non-Resident) at CSIS. The panelists included: Mr. Thierno-Habib Hann, Chief Executive Officer and Managing Director at Shelter Afrique Development Bank, Mr. Admassu Tadesse, President and Managing Director at Trade and Development Bank, and Ms. Fatima El Sheikh, Secretary General Arab Bank for Economic Development of Africa (BADEA).
The panelists shared their organization’s experiences with coordination and navigating a challenging international financial system, underscoring the need for innovative financing to bridge the funding gap, having greater regional integration, and the critical role that institutions like Shelter Afrique, BADEA and TDB play in urban development and trade financing. The discussion also touched on the impact of global economic shocks, the need for an African credit rating agency, and the significant economic opportunities Africa presents for the U.S., highlighting its growing population and untapped resources.
The panel had five key takeaways:
- Enhancing Financial Capacity of AMFIs: The need to bolster the capital base of AMFIs to enable them to provide more substantial and affordable financing to member states.
- Innovative Financing Mechanisms: Exploring instruments such as diaspora bonds, green bonds, and blended finance to diversify funding sources and reduce dependency on traditional lenders.
- Strengthening Governance and Transparency: Improving the governance structures of AMFIs to build investor confidence and ensure efficient utilization of resources.
- Regional Integration and Collaboration: Promoting greater cooperation among African countries to harmonize financial regulations and policies, facilitating cross-border investments, and economic integration.
- Leveraging Technology: Utilizing digital platforms to enhance financial inclusion and streamline the operations of AMFIs.
Ms. Hassatou Diop N’Sele, Vice President for Finance & Chief Financial Officer at the African Development Bank (AfDB) gave her reflections on the discussion highlighting the critical role that AfDB has played in the growth of the African continent, not just as a financier, but as a facilitator and catalyst for deeper collaborations that positions African multilateral financial institutions as a cohesive force for transformative change.
Mr. Babajide Sodipo, Acting Executive Secretary at the Alliance of African Multilateral Financial Institutions, gave the closing remarks, asserting the need for the African story to be told and the key role that AMFIs play in telling the story.
The event underscored the pivotal role of Africa’s Multilateral Financial Institutions (AMFIs) in addressing the continent’s financing challenges. By enhancing their capacity, embracing innovative financing mechanisms, and fostering regional collaboration, AMFIs can significantly contribute to Africa’s sustainable development.
The discussion concluded with a call for systematic global conversations to promote African investment opportunities and partnerships.
