The session concluded with a call to move beyond traditional financing approaches by reducing the cost of capital, expanding risk-sharing and co-financing mechanisms, strengthening project preparation and investment pipelines, mobilizing long-term funding at scale, and enhancing collaboration among African institutions and development partners.
African multilateral financial institutions, policymakers, development partners, and private sector leaders have called for more coordinated, innovative, and better-structured financing approaches to accelerate Africa’s digital and technological transformation.
The call was made during a high-level session held on April 1 on the sidelines of the 58th Session of the Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development. The session focused on the role of African multilateral financial institutions in mobilizing financing to drive technological and economic transformation across the continent.
The meeting brought together senior representatives from governments, financial institutions, and development partners to explore strategies for unlocking long-term, affordable capital for digital infrastructure, artificial intelligence, and innovation-led sectors. These areas are widely regarded as critical to boosting productivity, creating jobs, and supporting structural transformation in Africa.
Despite the rapid growth of Africa’s digital economy, participants highlighted that access to affordable and long-term financing remains a major barrier. High capital costs, limited risk-sharing mechanisms, currency volatility, and insufficient early-stage funding continue to restrict investment in digital infrastructure and innovation ecosystems. These challenges are further compounded by weak project preparation and a shortage of bankable investment opportunities.
Hanan Morsy of the United Nations Economic Commission for Africa emphasized that while Africa has strong innovation potential, financing constraints are holding back progress. Stakeholders also pointed to a disconnect between available capital and actual investments in innovation-driven sectors.
Haytham Elmaayergi of the African Export-Import Bank highlighted the need to strengthen project pipelines and improve institutional collaboration to scale investments effectively. Participants agreed that improving project preparation and developing bankable opportunities are essential to unlocking financing at scale.
There were also calls to adopt more flexible and innovative financing models. Adeniran Aderogba of the Regional Maritime Development Bank stressed the importance of developing creative funding structures and dedicated financing vehicles to support early-stage innovation, particularly in technology sectors where risks are harder to structure.
Participants further underscored the importance of combining financing efforts with investments in enabling infrastructure. Robert Lisinge noted that innovation extends beyond digital solutions and requires broader investments in infrastructure, energy, and emerging technologies.
The session concluded with a call to move beyond traditional financing approaches by reducing the cost of capital, expanding risk-sharing and co-financing mechanisms, strengthening project preparation and investment pipelines, mobilizing long-term funding at scale, and enhancing collaboration among African institutions and development partners.
