In a landmark move reflecting growing African leadership in development financing, five nations, The Gambia, Ghana, Liberia, Sierra Leone, and Sudan, have pledged a combined $16 million to the upcoming replenishment of the African Development Fund (ADF), the concessional financing arm of the African Development Bank Group.
This commitment marks a 220% increase from the previous cycle’s collective pledge of $5 million and highlights a significant shift toward home-grown financing solutions.
The formal announcement came during a constituency meeting on Monday held alongside the Bank Group’s Annual Meetings in Abidjan, Côte d’Ivoire.
The gathering also honored the contributions of Sierra Leone’s Finance Minister Sheku Bangura, chair of the constituency’s governors, and Executive Director Rufus Darkortey, both concluding their terms.
“Three years ago, the road looked steep,” Chair Bangura reflected. “But together, we turned challenges into stepping stones, building resilience, amplifying our voice, and unlocking greater financing flows for our countries.”
Darkortey emphasized the unprecedented nature of this collective contribution.
“This is a powerful message that Africa is not just a recipient but a partner in shaping its own future.”
For the first time, all five countries within the constituency have contributed to the ADF.
The individual pledges reflect increased commitments, with Ghana leading at $5 million, Sudan, Liberia, and Sierra Leone each pledging $3 million, and The Gambia committing $2 million.
This surge has raised the number of African countries contributing to the ADF from 8 to 13, representing a 62.5% increase in continental participation.
Newly appointed Governors Dr. Cassiel Ato Forson of Ghana and Augustine Kpehe Ngafuan of Liberia were welcomed at the meeting and are expected to help shape the constituency’s future strategy.
The meeting underscored that beyond increased funding, domestic resource mobilization remains essential for sustainable development.
The Gambia has doubled its tax-to-GDP ratio in two years, while Ghana’s digital revenue systems and improved compliance frameworks have expanded fiscal space.
Liberia is piloting the Bank’s Youth Entrepreneurship Investment Bank initiative, and the Bank has committed $40 million to the Ghana SME Growth Opportunity Fund.
Executive Director Darkortey, who led 17 missions across member countries during his tenure, reinforced the Bank’s expanding presence.
Plans to establish a Bank office in The Gambia are underway. Ghana is receiving targeted macroeconomic support.
Liberia’s Coastal Highway Phase I awaits approval in 2025, and Sierra Leone continues construction on its country office alongside the Lungi Bridge project.
Sudan has also benefited from emergency crisis response and food security support.
As the constituency passes leadership, Bangura laid out a strategic vision emphasizing the shift from passive aid recipients to proactive, performance-driven partners.
“The message from the Bank and development partners is clear, future resources will hinge on performance, selectivity, and a reduced grant component in financing,” he said.
“This is our moment to position our countries not as passive recipients but as agile reformers and credible investment destinations.”
Looking ahead, the constituency aims to transition from the ADF to African Development Bank financing, attract private capital, convert remittance flows into development tools, and maintain strong engagement in Bank governance.
“We may not control global tides, but we can control how we navigate them. The storm is strong. But so is our resolve, our unity, and our future,” Bangura concluded.
Darkortey urged members to mainstream domestic resource mobilization and prioritize private-sector development at home.
“If you get Domestic Resource Mobilization and the private domestic sector right, your development will be stronger and faster,” he said.
