On February 15, Sidi Ould Tah, president of the African Development Bank Group, convened a high-level session with heads of Africa's Regional Economic Communities in Addis Ababa, on the margins of the 39th African Union Summit. The meeting centered on the New African Financial Architecture (NAFA), a framework designed to mobilize domestic capital, enhance financial sovereignty, and address Africa's development financing gap. Participants from various RECs endorsed the initiative as a blueprint for economic transformation.
Sidi Ould Tah, president of the African Development Bank Group, convened a high-level working session on February 15, 2026, with heads of Africa's Regional Economic Communities (RECs) on the margins of the 39th African Union Summit in Addis Ababa. The session addressed the New African Financial Architecture (NAFA), a home-grown framework intended to mobilize large-scale domestic capital, strengthen financial sovereignty, and tackle the continent's ongoing development financing gap.
Attendees included chief executive officers from AU-recognized RECs such as the Arab Maghreb Union, Common Market for Eastern and Southern Africa, Community of Sahel-Saharan States, Economic Community of Central African States, Economic Community of West African States, Intergovernmental Authority on Development, and Southern African Development Community. The Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat also participated.
In his opening remarks, Ould Tah emphasized the urgency of closing Africa's development financing gap by shifting from fragmented systems to a coordinated architecture. This approach, he said, would unlock Africa's capital power, rebuild financial sovereignty, support youth jobs, scale transformative infrastructure investments, and promote industrialization.
“NAFA is not just a financial plan. It is a blueprint for Africa’s economic transformation. It points to a future where Africa finances its development on its terms, through collaboration, coherence, and leadership,” Ould Tah stated.
As a key pillar of Ould Tah’s “Four Cardinal Points” strategic vision, NAFA acts as the main driver for reforming Africa's financial systems and amplifying its unified voice globally. The meeting represents a significant step in aligning regional priorities with a locally rooted financial model to foster sustainable growth and resilience across the continent.