A Vision for Africa’s Future: Mobilizing Global Capital
Dr. Akinwumi Adesina, former President of the African Development Bank, has made it clear that his commitment to mobilizing global capital for Africa’s development will not end with his tenure. As he prepares to step down from his role on September 1, 2025, Adesina remains steadfast in his mission to tilt global investment toward unlocking Africa’s vast potential.
In a keynote speech delivered at the Standard Chartered Africa Summit in Lagos on July 31, titled “Tilting Global Capital for Unlocking Investment Opportunities in Africa,” Adesina emphasized the importance of aligning global financial resources with Africa’s developmental needs. He declared, “Together, let us tilt global capital to unlock Africa’s assets. As I step into a new future, you can be sure this will be my focus! For I will always have Africa in my heart and in my sight.”
The summit, themed “Africa to the Globe: Innovation, Resilience, and Growth,” brought together a diverse group of leaders, including corporate executives, policymakers, investors, and thought leaders. Attendees included Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole; Aliko Dangote, Africa’s richest man; Hakeem Belo-Osagie, Chairman of FSDH Group and Harvard Business School lecturer; and award-winning author Chimamanda Adichie.
Adesina opened by expressing his optimism about Africa’s future, joking that as “Africa’s Optimist in Chief,” he couldn’t refuse the opportunity to speak on the continent’s potential. His message was clear: the African Development Bank is not waiting for more capital—it is innovating to maximize the impact of existing resources.
Financial Innovations and Achievements
Over the past decade, the African Development Bank has focused on bold financial innovation. Adesina outlined several key achievements, supported by the Bank’s AAA rating:
- Over $102 billion in low-cost financing provided to Africa since 2015.
- Capital raised increased from $93 billion in 2015 to $318 billion in 2024, the highest in the Bank’s 60-year history.
- Rechanneling of IMF Special Drawing Rights (SDRs) through partnerships with the Inter-American Development Bank, allowing multilateral development banks to leverage these funds up to 4-8 times.
- The Africa Investment Forum, launched in 2018, has attracted over $225 billion in investment interest across critical sectors such as infrastructure, energy, and agribusiness.
- The Bank issued the largest social bond by multilateral institutions, amounting to $14 billion over eight years.
- In 2025 alone, the Bank issued $10 billion in long-term global benchmark bonds to finance projects across Africa.
- The Bank pioneered the first-ever synthetic securitization of a non-sovereign portfolio, involving a $1 billion private sector loan portfolio.
- It also executed the first-ever private sector hybrid capital transaction, valued at $750 million, with over 275 investors contributing a total of $5.1 billion.
- The Bank facilitated a Room to Run Sovereign offering, creating an estimated $2 billion in new sovereign lending capacity.
- Several partial credit guarantees totaling nearly $3 billion were issued, mobilizing $5 billion for the continent.
- A $250 million partial credit guarantee enabled Egypt to issue its first Panda Bond on the Chinese capital market, valued at $500 million.
Strategic Partnerships and Recognition
Adesina praised Standard Chartered Bank for its successful partnership with the African Development Bank, particularly in the 2023 Côte d’Ivoire sustainable loan partial credit guarantee transaction. This deal unlocked €533 million in support of the country’s financing needs and was recognized as the “Sovereign Syndicated Loan Deal of the Year” at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards.
He also commended Standard Chartered for being named Best Transaction Bank at the Asset Triple A Treasurise Awards in Hong Kong, noting the bank’s impressive record of 127 accolades globally.
Call to Action for Global Institutions
Adesina urged global financial institutions to collaborate more strategically with the African Development Bank and other multilateral development banks. He called for greater use of risk mitigation tools, mainstreaming ESG practices, and scaling up local currency financing solutions.
His delegation at the summit included the Bank Group’s Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor, and the Director General of the Nigeria Country Department, Dr. Abdul Kamara.
Expanding Africa’s Development Portfolio
The African Development Bank currently has the largest active portfolio in Nigeria, valued at $5.1 billion and comprising 52 operations—26 public and 26 private. National operations account for 84% of the portfolio, while multinational projects make up the remaining 16%.
Looking ahead, the Bank plans to establish a Youth Entrepreneurship Investment Bank in Nigeria as part of a pan-African initiative aimed at creating and financing opportunities for young Africans. Additionally, Phase 1 of the Special Agro-Industrial Processing Zones is underway in eight states, including the Federal Capital Territory. Construction has begun in four states—Kaduna, Cross River, Oyo, and Ogun—with Phase 2 expected to launch in September 2025, covering the remaining 28 states.
