The African Development Bank Group has opened a two-day meeting in Abidjan with more than 50 representatives from major African stock exchanges, regional banks, and development finance institutions.
The goal of the inter-institutional meeting is to shape a new financial framework that can close Africa’s widening development financing gap and strengthen the continent’s long-term economic resilience.
Invited by Bank Group President Dr. Sidi Ould Tah, participants are discussing how to reform the way capital is raised and deployed across African markets. Dr. Ould Tah described stock exchanges as “custodians of financial institutions and catalysts of our continent’s future,” underscoring their central role in mobilizing long-term, stable capital.
This is the first time the Bank has convened all major African stock exchanges for joint talks. Leaders from the BRVM, Nairobi Stock Exchange, Tunis Stock Exchange, the Central African Stock Exchange, Casablanca Stock Exchange, the Ghana Stock Exchange, and others are participating. Discussions are focused on how to strengthen Africa’s capital markets, improve regulatory frameworks, and better channel investment into productive sectors.
Speakers highlighted several structural challenges. BRVM CEO Dr. Felix Edoh Kossi Amenounve stressed the need to rethink how pension funds are capitalized, noting the gap between investment needs and available resources. Participants also discussed the urgent need for more risk capital for small and medium-sized enterprises, which make up nearly 90% of African businesses and more than 60% of all jobs, yet still face limited access to financing.
Other priorities include expanding digital tools and fintech adoption, attracting more institutional investors, and improving financial education for young people to build long-term participation in markets.
Regional coordination, regulatory modernisation, and more efficient cross-border investment flows were also flagged as essential steps. As Nairobi Stock Exchange representative Donald Waweru Wangunyu noted, Africa has strong projects, “but the obstacles are still there.”
In the long run, the Bank aims to reduce reliance on foreign aid by strengthening domestic capital markets. Dr. Ould Tah’s broader strategy centers on improving access to predictable, affordable long-term financing, supported by technical assistance, policy reforms, and greater market depth.
