By Anita Dennis
African private-sector leaders have welcomed a new beginning with the African Development Bank (AfDB) Group, following a landmark meeting with its newly appointed President, Dr. Sidi Ould Tah, in Abidjan recently.
The discussions brought together employers’ representatives from West and Central Africa, alongside Moroccan business leaders, only a day after the opening of the 13th Confédération générale des entreprises de Côte d’Ivoire (CGECI) Academy event. The gathering marked the first high-level dialogue between the bank’s leadership and private-sector organizations since Dr. Ould Tah assumed office on 1 September.
Speaking on behalf of Ivorian businesses, Ahmed Cissé, President of the CGECI, expressed optimism about the renewed relationship with the bank. “We hope this dialogue will rapidly develop into a strategic partnership with African employers’ organizations,” Cissé declared.
Echoing the sentiment, Célestin Tawamba, President of the Groupement des Entreprises du Cameroun (GECAM), described the meeting as a turning point. “For the private sector, the meeting itself represents a paradigm shift with the African Development Bank,” he said.
Dr. Ould Tah used the occasion to outline his strategic vision for the continent, reiterating commitments he made in the manifesto that secured his election. He emphasized the need to mobilize a wider range of investments – from private firms to multilateral institutions and regional development banks – to close Africa’s annual $400 billion financing gap.
“Through innovative financial instruments and enhanced risk mitigation strategies, I am convinced that the African Development Bank’s goal should be to multiply every dollar of capital, converting each dollar raised into a productive and transformative investment of $10 or more,” the AfDB president noted.
He also highlighted the critical role of business leaders in driving Africa’s growth. “Africa will either develop with the private sector, or it will not develop at all,” Dr. Ould Tah remarked, pledging that the bank group will take the lead in shaping a new African financial architecture.
Employers’ representatives shared their concerns and expectations, highlighting issues such as access to financing, support for homegrown African companies, capacity-building for entrepreneurs, and guarantee mechanisms to strengthen local and regional banks. Both sides agreed to keep communication channels open through AfDB’s country offices.
Looking ahead, the bank’s new president is expected to deepen engagement with African businesses at the upcoming Africa Investment Forum (AIF), scheduled for 26–28 November 2025 in Rabat, Morocco. The Forum. jointly organized by AfDB and several partners, will provide another platform to refine the contours of this emerging partnership between the continent’s foremost development finance institution and its private sector.
