Executive Summary
The Association of African Development Finance Institutions (AADFI), apex membership organization for Development Finance Institutions (DFIs) in Africa, celebrates its golden jubilee in 2025. As part of the activities to mark this milestone, AADFI commissioned this study with the theme “AADFI @ 50: Reflecting on the Past, the Present, and Perspectives into the Future”. The study reviews and compiles some key policy issues and research findings concerning the DFIs (or development banks) over the past 50 years and perspectives for the future to keep them relevant, as well as the role of AADFI since its establishment. In this regard, the study does not intend to break new research ground but aims to:
- Review the definitions of the DFIs, trace the history of their establishments in Africa, especially in the post-independence era, and scan their current landscape on the continent.
- Identify the rationale or justification for DFIs’establishment in the newly independent African countries.
- Examine the causes of the challenges faced by the DFIs in the 1980s, a few decades into their establishment.
- Summarize the debates that surrounded their existence and the development of a framework for their reform and restructuring.
- Assess the current state of the DFIs and how the reforms have contributed to enhancing their sustainability and development impact.
- Highlight the role that the Association of African Development Finance Institutions played in increasing the effectiveness and impact of the member DFIs.
- Consider the future of DFIs in Africa, given the emerging challenges and opportunities in development financing.
- Present the focus of AADFI’s work in supporting African DFIs going into the future.
For the Full Report, contact the secretariat at training@adfi-ci.org and info@adfi-ci.org