AfDB urges CEMAC countries to embrace new financing architecture.

President Tah told CEMAC member States representatives and others present at the high-level working session held on 15 February, on the sidelines of the African Union Summit, that NAFA is a homegrown, transformative framework aimed at mobilizing large-scale domestic capital, strengthening financial sovereignty, and addressing the continent´s persistent development financing gap.

He spoke at length on the need to urgently close Africa´s development financing gap, by moving beyond fragmented systems toward a coordinated architecture that will unlock Africa´s capital power, rebuild financial sovereignty, support jobs for youth and scale transformative infrastructure investments while promoting industrialization.

He assured the sub regional representatives that NAFA points to a future where Africa finances its development on its own terms, through collaboration, coherence, and leadership. 

The AfDB President described the new institution as one of the four cardinal pillars of his administration, to serve as a primary engine for reforming Africa’s financial systems and amplifying its unified voice in the global financing arena. 

“This meeting marks a decisive step in aligning regional priorities with a locally anchored financial model to drive sustainable growth and resilience across the continent,” he told attendees.

On their part, CEMAC and other attendees welcomed the NAFA initiative and shared concrete actions their communities are under taking to scale up investment in cross-border infrastructure, industrialisation and private sector development.

They also highlighted the importance of co-financing platforms, regional implementation capacity and guarantees to de-risk investment pipelines.

Furthermore, the need to curb illicit financial inflows was highlighted as a critical factor in strengthening domestic resource mobilization, given their persistent impact on fiscal sustainability, governance, and sub regional as well as Africa´s ability to mobilise own resources for development.

The African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Francisca Belobe, who took part in the deliberations emphasized the urgency of deepening structural economic reforms and strengthening implementation through closer coordination among African institutions and financial actors.

“There is too much fragmentation in our financial and economic efforts,” she told sub regional representatives, stressing that “this fragmentation weakens scale, visibility, and collective impact across the continent”.

The AU Commissioner then called for more integrated and coordinated approach, driven by Africa´s own institutions, so as to deliver tangible results. 

She further urged sub regional communities like CEMAC, to play a leading role in identifying and supporting African corporate champions, so as to help position Africa´s investment and growth opportunities in a more favourable stead. 

According to the AU Commissioner, such support and identification are essential to anchor industrialization, strengthen regional value chains, and ensure that Africa´s development is driven by Africa-led economic actors.

Meanwhile, the Secretary General of the African Continental Free Trade Area, AfCFTA, Wamkele Mene, who also attended, welcomed the NAFA, describing it as timely for the implementation of the aspirations of the continental free trade area. 

Before underscoring the importance of addressing Africa´s infrastructure deficit and leveraging its critical minerals to support regional value chains and sustainable industrial growth.

This article was first published in The Guardian Post Edition No:3709 of Friday February 20, 2026