Africa must secure an estimated $811 billion annually to finance infrastructure, energy, agriculture, and industrial projects critical to its long-term development, the African Development Bank (AfDB) has warned.
The staggering figure underscores the scale of investment required for the continent to achieve transformative growth and meet its sustainable development targets. According to the AfDB, limited domestic revenues, debt vulnerabilities, and declining global capital inflows are widening the gap between Africa’s ambitions and its financing capacity.
The Bank’s President, Dr. Akinwumi Adesina, stressed that without unlocking innovative financing solutions, Africa risks stalling on poverty reduction, job creation, and industrialisation. “Africa cannot grow on aid alone. We must mobilize private capital, tap diaspora bonds, and deepen regional capital markets to fund our future,” he said.
The report highlights priority sectors that demand immediate capital flows, including renewable energy to close power deficits, climate-resilient agriculture, and transport infrastructure to support the African Continental Free Trade Area (AfCFTA). Experts warn that failure to address the shortfall could entrench inequality and leave Africa more vulnerable to global economic shocks.
Despite the challenge, the AfDB remains optimistic, pointing to Africa’s vast natural resources, rising digital economy, and youthful population as catalysts for attracting long-term investment if the right reforms are made.
The financing gap, while daunting, is also a call to action: Africa’s growth story will depend on how quickly the continent can convert potential into capital and capital into impact.