Africa: AfDB and Deposit Funds Strengthen Their Alliance in Cotonou

The two partners plan to co-finance projects, mobilize resources on a larger scale, and develop investment vehicles and platforms. Their joint actions will also support entrepreneurship, job creation, knowledge sharing, and the capacity building of African public financial institutions.

Maryse Lokossou, General Director of the Deposit and Consignment Fund of Benin and current President of the African Forum of Deposit Funds, emphasized the role of these institutions in mobilizing long-term savings. According to her, pooling their capacities with those of the AfDB should accelerate the financing of projects with significant economic and social impact in African countries.

The partnership also aims to better coordinate responses to shocks that weaken the continent’s economies, including geopolitical uncertainties, climate disruptions, dependence on external markets, and financial tensions. The AfDB and the Forum frame this cooperation within the New African Financial Architecture for Development, which seeks to enhance the mobilization of domestic resources and make the continental financial system more predictable.

Mobilizing More African Savings

The African Forum of Deposit Funds brings together public institutions responsible for collecting, managing, or investing savings resources and other long-term financing. These organizations are particularly involved in financing infrastructure, structuring projects, and investments deemed priorities by states.

This new alliance extends the discussions initiated in May 2026 in Brazzaville, during the AfDB’s Annual Meetings. At that time, the Forum supported the New African Financial Architecture for Development and highlighted the need to further transform available savings on the continent into capital for productive investments.

In Cotonou, the AfDB and the Deposit Funds identified co-financing operations, resource mobilization, the creation of investment platforms, and the development of institutional capacities as key areas of work. The Forum’s annual meeting concluded on September 9 after three days dedicated to mechanisms for increasing long-term financing in Africa.