March 15, 2024

Africa is making bold moves to drive the global finance reform agenda. To maintain the momentum in 2024, African financial institutions must work together more effectively and deploy more resources to meet Africa’s development needs.

ACET has been closely involved in efforts to elevate the dialogue and urgency around reforms to the global financial architecture, especially by bringing key players together. In the span of a few months, ACET co-convened some of the most senior officials from continental institutions; organized a dialogue with national development banks, sovereign wealth funds, commercial banks, and fintechs; and convened African Heads of State at the African Union Summit. The events yielded broad acknowledgement that more can be done, and that if the right actions are taken—including more coordination among financial institutions—Africa can realize outsized benefits.

Building from the consultations, this policy note identifies and describes six areas for improved collaboration on Africa’s global finance agenda that can lead to greater development impact:

• Continental harmonization and investment
• Increased financial leverage
• National–regional–continental coordination
• Coordinated advocacy
• Operational efficiency and contextualized requirements
• Coordinated SME investment

To read the policy brief click the See more link below.

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