The African Development Bank Group and the African Sovereign Wealth Fund Forum (ASIF) have announced the strengthening of their strategic partnership to accelerate the mobilisation of African institutional capital for cross-border infrastructure projects.
The two institutions announced their enhanced collaboration following the signing of a declaration of intent in Abidjan on 26 June 2026, building on an existing collaborative framework and through new investment platforms to support transformative projects and advance the implementation of the New African Financial Architecture for Development (NAFAD), the flagship financing agenda championed by the Bank Group under President Dr Sidi Ould Tah.
“Strengthening the partnership between the African Development Bank Group and ASIF through this declaration of intent is a concrete and operational implementation of the Abidjan Consensus and the agenda of the New African Financial Architecture for Development (NAFAD),” said Obaïd Amrane, Chief Executive Officer of Morocco’s Ithmar Capital and Chairman of ASIF.
“ASIF reiterates its support for, and commitment to working with the African Development Bank Group for the deployment and success of NAFAD, thereby reinforcing the capacity of African institutions to mobilise resources and direct investments towards transformative projects,” he added.
Aida Ngom, Director of the African Development Bank Group’s Private Sector Development Department, said the agreement reflects both organisations’ shared commitment to mobilising African capital for the continent’s development priorities.
“This declaration of intent illustrates the convergence of the ambitions of the African Development Bank Group and ASIF for the development of our continent and reflects an alignment with the Four Cardinal Points that guide the Bank’s interventions,” Ngom emphasised. “Whether it’s energy infrastructure, regional corridors, or other key sectors, these investments are essential levers for fostering inclusive growth and shared prosperity.”
The African Sovereign Investors Forum is a pan-African platform launched in June 2022 in Rabat, Morocco. It brings together 17 African sovereign wealth investors to promote cooperation, knowledge sharing, and the coordinated mobilisation of capital to support the continent’s structural transformation.