5 African countries make historic $16 million pledge to African Development Fund

The $16 million pledge was made during a high-level meeting on the sidelines of the 2025 African Development Bank (AfDB) Annual Meetings in Abidjan, Côte d’Ivoire, signaling a strategic and symbolic shift for the African economic alliance.

This move, which more than triples their previous pledge of $5 million, marks a breakthrough in the continent’s development financing approach.

Notably, for the first time in ADF history, all five countries from a single constituency have committed to the Fund’s replenishment cycle.

Rufus Darkortey, the outgoing Executive Director, welcomed the development with great enthusiasm. He said: “This is a powerful message that Africa is not just a recipient but a partner in shaping its own future.”

The bold pledges have significantly increased the number of African donor countries to the ADF from 8 to 13, representing a 62.5% rise in intra-African financial support, signaling growing confidence in homegrown financing solutions

The meeting also marked a significant leadership transition, honoring Sheku Bangura, Sierra Leone’s Finance Minister and Chair of the Governors, and Executive Director Rufus Darkortey for their transformative leadership over the past three years.

At the event, which included a tribute to the outgoing leadership, Bangura reflected: “Three years ago, the road looked steep, but together, we turned challenges into stepping stones, building resilience, amplifying our voice, and unlocking greater financing flows for our countries.”

The new leaders, Dr. Cassiel Ato Forson, Ghana’s Finance Minister, and Augustine Kpehe Ngafuan, Liberia’s Finance and Development Planning Minister, were welcomed amid high expectations for continuity and innovation.

The constituency reaffirmed its commitment to domestic resource mobilization (DRM) and and private sector-led growth, recognizing it as essential for sustainable development:

The Bank’s ongoing efforts also include targeted macroeconomic support for Ghana and plans to establish an office in The Gambia. Additionally, Sudan is benefiting from crisis response and food security initiatives.

In anticipation of the leadership transition, Bangura articulated a strategic vision, he emphasized: “The message from the Bank and development partners is clear: future resources will hinge on performance, selectivity, and a reduced grant component in financing,”

“This is our moment to position our countries not as passive recipients but as agile reformers and credible investment destinations.” He added.

The overarching message from both outgoing and incoming leaders is clear: Africa must own its development agenda.

As Bangura succinctly put it, “We may not control global tides, but we can control how we navigate them. The storm is strong. But so is our resolve, our unity, and our future.”