Knowledge Products

Report: ADFIAP-AADFI JOINT INTERNATIONAL CEO FORUM 2025

The 2025 ADFIAP-AADFI Joint International CEO Forum convened from October 22 to 24, 2025, in Macau SAR, China, under the theme “Resilient Future: Harnessing SustainableFinance for Development in Asia and Africa.” The forum brought together nearly 170 distinguished delegates from 32 countries, including 10 nations in Asia (Bhutan, Cambodia, India, Indonesia, Iran, Malaysia, Oman, Philippines, […]

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2024 Annual Report

The Association of African Development Finance Institutions (AADFI) is the umbrella organization for development finance institutions in Africa. The Association was formed in 1975 under the auspices of the African Development Bank (AfDB), with the objectives being to stimulate cooperation for promoting and financing sustainable development in Africa and encourage economic integration on the continent.

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Regional Integration and Market Access Insights

This edition of the Regional Integration and Market Access Insights Report offers a comprehensive look into Africa’s dynamic economic transformation. As the continent takes strides towards deeper regional integration and enhanced market access, this report explores the infrastructure projects reshaping Africa’s trade routes, from modern railways to crucial energy pipelines, all of which are boosting

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African Trade Heatmaps 2025

This brief provides a visual overview of Africa’s merchandise trade landscape through heatmaps. It highlights key trade patterns and concentrations among trading partners, product categories, and regional blocs. Using data from 2023 and 2024, the analysis focuses on African trade flows, bilateral trade intensity, and the distribution of traded products at both country and regional

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African Trade and Economic Outlook 2025: African Resilience in a Changing World

The 2025 African Trade and Economic Outlook (ATEO) provides an in-depth analysis of Africa’s economic and trade performance, projecting the continent’s growth trajectory in the short-to- medium term. The report highlights the key macroeconomic and trade developments shaping Africa’s recovery, detailing opportunities for sustainable growth amid heightening global and domestic uncertainties. Notably, despite global economic

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African Trade Report 2025: African trade in a Changing Global Financial Architecture

The 2025 edition of the African Trade Report, published by the African Export-Import Bank (Afreximbank), examines trade and economic development in Africa and other parts of the world during 2024 and explores how a rapidly fragmenting global economy – marked by intensifying geopolitical schisms and industrial-policy rivalries – is reshaping Africa’s trade dynamics just as

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FAO Investment Centre’s 2024 Annual Review 

Investing in agrifood systems changes lives – lifting people out of poverty and hunger, connecting small-scale farmers and rural entrepreneurs to markets and financing, protecting vital ecosystems and biodiversity, and much more. For six decades and counting, the FAO Investment Centre has worked with countries and financiers to invest in food and agriculture for a

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AADFI @ 50: Reflecting on the past, the present, and perspectives into the future

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

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2024 CEO Forum of African DFIs of AADFI – Report

The 2024 CEO Forum of African DFIs was held from November 4 to 6, 2024, in Ebene, Mauritius, on the theme “Sustaining Development Finance in Africa: Perspectives into the Future.” The forum’s broad objective was to discuss how to sustain development finance in Africa, given the vast funding requirement for investments in the critical sectors,

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Mapping AADFI Member State of  Readiness to Access Climate Finance

Development Finance Institutions (DFIs) play a crucial role in addressing climate change. Following a workshop themed “A Practical Road Map for African DFIs in Accessing Green Fund”, the AADFI Working Group on Climate Change conducted a survey to assess member DFIs readiness for climate finance. This survey aimed to understand DFIs’ engagement with climate finance

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14th Peer Review and Rating of African DFIs – recording strong improvement in governance, operation, financial management, and development impact

The Association of African Development Finance Institutions (AADFI) has released the 14th Peer Review and Rating of African DFIs report based on the AADFI Prudential Standards, Guidelines, and Rating System (PSGRS). The exercise covers the assessment of DFIs in the following key aspects: governance, operation, financial management, and development impact. Twenty-nine (29) DFIs submitted to the 14th PSGRS annual self-assessment exercise, which

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State of Blended Finance 2024:Climate Edition

With its continued focus on climate, this year’s report arrives at a pivotal moment in global efforts to combat climate change and achieve the Sustainable Development Goals (SDGs). This edition unveils a complex landscape of opportunities and challenges, emphasizing the role of blended finance in mobilizing private capital for climate initiatives, particularly in Emerging Markets

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2024 Africa Sustainable Development Report

Reinforcing the 2030 Agenda and Agenda 2063 and Eradicating Poverty in Times of Multiple Crises: The Effective Delivery of Sustainable, Resilient and Innovative Solutions. The 2024 Africa Sustainable Development Report (ASDR) reviews the status of the implementation of the two Agendas in Africa and offers policy recommendations to facilitate their attainment. As in previous years,

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Africa’s Pulse: An Analysis of shaping Africa’s Economic Future

The October 2024 edition of Africa’s Pulse reports a fragile economic recovery in Sub-Saharan Africa, with growth projected at 3% in 2024, up from 2.4% in 2023, driven by increased private consumption and investment. Inflation is expected to decline from 7.1% in 2023 to 4.9% in 2024 and 4.6% in 2025–26 due to tighter monetary

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Agricultural Value Chain Financing (AVCF) and Development for Enhanced Export Competitiveness

Globalization has moved the world from fragmented economies to a unit trading bloc that offers enormous opportunities but also heightens competition, with increasing demand on market players. However, weaker market players will be ‘pushed’ out of mainstream value chains and this is a present threat for small Africa’s farmers. Indeed, in most African countries, agricultural

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Economic Report on Africa 2024: Investing in a Just and Sustainable Transition in Africa

The Economic Report on Africa (ERA) 2024 presents the case for investing in a just and sustainable transition (JST) while achieving energy access for all. Using country case studies, macro, sectoral and firm evidence, and the findings and recommendations of previous ERA editions, the 2024 report assesses the necessary conditions for a JST in Africa

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An Event for Change: Gaps and Solutions to Advance Women’s Economic Empowerment

EXECUTIVE SUMMARY At the current pace, we will need almost 300 years to achieve full gender equality (UN Women, 2022). To address this reality, in June 2024 the Investment Climate Reform (ICR) Facility hosted a conference in Kigali, Rwanda, welcoming around 140 participants. Stakeholders from 36 African, Caribbean and Pacific (ACP) countries were represented. The

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African DFIs Performance Survey

Executive Summary The African Development Finance Institutions (DFIs) Annual Performance Survey provides information on the status of African DFIs’ operations. The biannual performance survey measures African DFIs’ performance based on set indicators. The 2023 report is the second edition, based on the 2022 figures. Cross-sectional data from primary sources was used for the survey. Of

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Report of the 2023 AADFI-ADFIAP Joint International CEO Forum

The 2023 Joint International CEO Forum of the Association of African Development Finance Institutions (AADFI) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) was held from November 8 to 10, 2023, at the Transcorp Hilton Hotel in Abuja, Nigeria. The Forum was hosted by the Bank of Industry (BOI), Nigeria,

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Africa in Figures 2023

One of the most recurrent challenges when conducting research in Africa is limited availability and/or access to reliable data. Researchers and policymakers often lament the unavailability and/or the reliability of African data – even when available, data usually spans a short time period, casting doubts on research outcomes and raising ambiguity on policy recommendations derived

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Contemporary Issues in African Trade & Trade Finance (CIAT) Vol 8

The Contemporary Issues in African Trade and Trade Finance (CIAT) is introduced by the Bank to provide a platform for the staff of Afreximbank and other individuals knowledgeable in African trade and trade finance to publish articles in the areas of trade, trade finance and economic development in Africa. The CIAT publishes technical and non-technical

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Babacar Ndiaye Lectures 2022: Africa and the Developing World in a Turbulent Global Financial Architecture

This Edition This publication is the result of the sixth edition of the Babacar Annual Lecture. Held alongside the World Bank and International Monetary Fund Annual Meetings on 14 October 2022 in Washington DC, USA, this edition was themed Africa and the Global World in a Turbulent Global Financial Architecture. The keynote speaker was Honourable

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African Trade Report 2023: Export Manufacturing and Regional Value Chains in Africa under a New World Order

This report outlines various policies and initiatives to alleviate trade constraints and catalyse the emergence of vibrant RVCs in Africa. It shows that the confluence of GSC realignment under the new world order and the implementation of the AfCFTA provides a unique opportunity for accelerating manufacturing export growth in Africa. In particular, rules of origin

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AADFI releases the Results of the 12th Peer Review of African DFIs

The Association of African Development Finance Institutions (AADFI) has released the report of the 12th Peer Review and Rating of African DFIs based on AADFI Prudential Standards, Guidelines, and Rating System (PSGRS). The AADFI PSGRS is an assessment tool for African DFIs, focusing on governance, operation, financial management, and development Impact. It aims to help the

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Overview of Africa’s Financial Sector: Long-term finance and capital markets

Expanding on the general overview of the financial sector in Africa, this second article focuses on the development of the capital markets and the recent initiatives to attract long-term capital to the continent. Capital markets in Africa are still in their infancy and mirror the economic development of the continent. However, the evolution over the last decade prior

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Africa’s shift to funding sustainable power in local currencies: The opportunity for ECAs

Africa’s shift to funding sustainable power in local currencies: The opportunity for ECAs is Africa’s policy shift towards PPAs in local currencies an opportunity for ECAs to support the long-term sustainability of the energy sector? By Harald Hirschhofer, Senior Advisor at TCX , and Vivek Mittal, CEO of African Infrastructure Development Association.

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Public development banks driving gender equality: An overview of practices and measurement frameworks

This publication was jointly prepared by the Agence Française de Développement (AFD) and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women). The publication was led by Vanina Vincensini, UN Women with substantive contributions from Mar Merita Blat, Philippe Galland and Myriam Mesbah from AFD; and Vipul Bhagat, Anna Falth,

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Mapping 500+ Development Banks: Qualification Criteria, Stylized Facts, and Development Trends

The present Second New Structural Economics (NSE) Development Financing Research Report was authored by a team of researchers from the NSE Development Financing research program and the Agence française de développement (AFD). The team is led by twoprincipal investigators—Jiajun XU, Executive Deputy Dean of the Institute of New Structural Economics at Peking University, and Régis

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IACPM paper on Bank interaction with DFI’s for the mobilisation of private capital for the SDG’s

Banks prefer that DFIs take a different economic position in a transaction structure rather than simply co-invest under the same terms and conditions as the bank. Specifically, they indicated a preference for the DFIs to do more to help mitigate local currency risk, and to find a way to work with state-owned enterprises

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The Economic Consequences of the Covid-19 Pandemic in Nigeria

The Covid-19 pandemic has generated shocks that have caused economic fluctuations globally, calling for an understanding of the behavior of macroeconomic variables. This study presents an early review of the macroeconomic impact of the Covid-19 pandemic in Nigeria. Nigeria has been severely affected by the spread of Covid-19 and the associated sharp decline in oil

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Leveraging National Development Banks to Enhance Financing for Climate-Smart Urban Infrastructure

This knowledge product builds on the main conclusions from the Cities Climate Finance Leadership Alliance (the Alliance)policy brief on Enhancing the Role of National Development Banks in Supporting Climate-Smart Urban Infrastructure,commissioned by FELICITY and developed in partnership with the Alliance.

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ICR FACILITY

The ICR Facility is co-funded by the European Union (EU), the Organisation of African, Caribbean and Pacific States (OACPS) under the 11th European Development Fund (EDF), together with the German Federal Ministry for Economic Cooperation and Development (BMZ) and the British Council. It is implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ), the British

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Good practices and innovations in risk management for agri-SME finance under COVID-19

Our newly released report compiles experiences and lessons shared through an e-learning LIVE TALKS series focused on Risk Management for Agri-SME Finance. The series of three webinars was jointly organized by the Smallholder and Agri-SME Finance and Investment Network (SAFIN), The ILO’s Social Finance Programme, and the Platform for Agricultural Risk Management (PARM). Co-hosted by SAFIN

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Development finance institutions: the need for bold action to invest better

The United Nations Addis Ababa Action Agenda (AAAA) on financing development is at a critical juncture. It was off track before the Covid-19 pandemic struck and there is now a very real risk that it will veer even further off course without bold corrective action. Covid-19 has served to dramatically increase development needs, but development

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Leveraging National Development Banks to Enhance Financing for Climate-Smart Urban Infrastructure

This knowledge product builds on the main conclusions from the Cities Climate Finance Leadership Alliance (the Alliance) policy brief on Enhancing the Role of National Development Banks in Supporting Climate-Smart Urban Infrastructure, commissioned by FELICITY and developed in partnership with the Alliance. The policy brief sets the context to explore how National Development Banks (NDBs)

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Public Banks And Covid-19: Combatting The Pandemic With Public Finance

[kc_row use_container=”yes” force=”no” column_align=”middle” video_mute=”no” _id=”702024″][kc_column width=”12/12″ video_mute=”no” _id=”924289″][kc_column_text] Covid-19 has dealt a devastating economic blow around the world. From individuals who can no longer afford to pay for food, to SMEs unable to cover their rent, to national governments struggling with their balance of payments and skyrocketing health expenditures, the economic impacts of Covid-19

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Public Banks + Public Water = SDG6?

[kc_row use_container=”yes” force=”no” column_align=”middle” video_mute=”no” _id=”324332″][kc_column width=”12/12″ video_mute=”no” _id=”292718″][kc_creative_button style=”main” title=”Click to Download” icon_show=”yes” icon_float=”before” _id=”765462″ icon=”fa-file-pdf” link=”http://new.adfi-ci.org/wp-content/uploads/publications/McDonald-Marois-and-Spronk-2021-Public-Banks-and-Public-Water-Water-Alternatives-v14-iss1.pdf|Click to Download|”][/kc_column][/kc_row]

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2026 AADFI Annual General Assembly

The Association of African Development Finance Institutions (AADFI) is pleased to announce that its 2026 Annual General Assembly will take place from May 24 to 29, 2026, in Brazzaville, Republic of Congo, on the sidelines of the African Development Bank (AfDB) Annual Meetings.

The Annual General Assembly will be held on the theme “Augmenting Sovereign Finance in Africa: DFIs Unlocking Growth and Resilience through NAFA,” with a focus on the transformative role of African Development Finance Institutions (DFIs) in strengthening Africa’s financial sovereignty. The discussions will align with the AfDB-led New African Financial Architecture (NAFA), a system-level framework designed to mobilize long-term investment, reduce Africa’s cost of capital, and reinforce resilience through coordinated financial systems and deeper domestic capital markets.

The Annual General Assembly will convene leaders of African DFIs, government officials, regional institutions, and development partners to further explore how African DFIs can catalyze local investment, de-risk strategic projects, and strengthen economic autonomy to build resilience against global shocks and bridge the continent’s infrastructure funding gap.

Further details will be shared in the coming weeks.