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As Africa continues to grapple with a widening development financing gap, Dr. Sidi Ould Tah, a candidate for the presidency of the African Development Bank (AfDB), is calling for a transformative shift in how the continent funds its growth.
Currently serving as the Director General of the Arab Bank for Economic Development in Africa (BADEA), Dr. Tah is advocating for stronger financial collaboration with Gulf nations and a renewed drive to unlock Africa’s own domestic financial potential. His vision centers on innovative financing methods to close the continent’s staggering infrastructure deficit, estimated at over $100 billion annually.
In contrast, the AfDB currently disburses between $8 billion and $10 billion per year — a gap Dr. Tah insists must be bridged if the bank is to meet Africa’s development demands.
“The Gulf region has excess liquidity and operates multiple development finance institutions offering capital at low cost,” he explained in an interview. “We are not fully tapping into this potential, despite growing interest from GCC sovereign wealth funds to invest in Africa.”
In addition to pursuing Gulf partnerships, Dr. Tah is championing domestic resource mobilization. He stressed the importance of improving tax systems, encouraging public-private partnerships, and creating more viable projects that can attract long-term investment from institutional players.
“Domestic resource mobilization has become the new rallying cry of African institutions, governments and other stakeholders as we seek a more resilient and independent future,” he said. “Ambition is within reach and can be supported by our many natural assets and a growing pool of domestic capital that remains largely untapped. But it will not happen by accident. Structural inefficiencies must be addressed and deliberate initiatives to harness these resources must be supported. Efficient domestic resource mobilization will pave the way for increased public investments in critical sectors.”
Dr. Tah’s campaign is aligned with broader global conversations about the role of multilateral institutions in adapting to economic shifts, addressing climate change, and creating opportunities for Africa’s youth.
As the AfDB prepares to elect a new president, his emphasis on expanding access to finance for entrepreneurs and small businesses, enhancing food security, driving climate and energy transitions, and improving institutional efficiency may appeal to member states seeking fresh ideas and decisive leadership.
The next AfDB president will be tasked with steering the institution through the post-pandemic recovery and strengthening Africa’s journey toward economic self-reliance.
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