Côte d'Ivoire: Minister of Planning and Development proclaims Abidjan Consensus Declaration, founding act of the New African Financial Architecture for Development

This declaration, made at the conclusion of the High-Level Consultative Dialogue on the New African Financial Architecture NAFA, officially transforms NAFA into the New African Financial Architecture for Development NAFAD. The declaration includes eleven resolutions aimed at profoundly reforming development financing mechanisms in Africa. The dialogue was initiated by the African Development Bank Group and held under the High Patronage of the President of the Republic, Alassane OUATTARA.

It was officially opened by Prime Minister, Head of Government, Robert Beugré MAMBÉ, and led by the President of the AfDB Group, Dr. Sidi Ould TAH. The event gathered African central bank governors, leaders of sovereign wealth funds, regional and commercial banks, national development banks, as well as capital market players and regulatory authorities. The Abidjan Consensus addresses a structural paradox: Africa faces an annual development financing deficit exceeding $400 billion, despite possessing approximately $4 trillion in medium- and long-term domestic savings.

This disparity is attributed to institutional fragmentation, poor risk allocation, and insufficient coordination between public and private actors. NAFAD aims to correct these shortcomings by reorganizing the African financial ecosystem around four p