The African Development Bank (AfDB) unveils its 2024-2033 decennial strategy during the annual meetings in Nairobi in May 2024. Focused on the continent’s critical needs, this approach relies on local and international partnerships to transform African resources into engines of sustainable prosperity. The strategy aims to position Africa on the development path, foster inclusive and sustainable growth, and improve the living conditions of the populations. Supported by an increased funding of 70 billion USD, the plan targets five priorities described below.
Lighting up and powering Africa
The AfDB aims to bridge the continent’s energy gap by prioritizing access to affordable, reliable, and sustainable energy. This promise of universal electrification will improve living conditions and strengthen production capacities. To achieve this, targeted reforms aimed at modernizing public utilities are deployed, favoring public-private partnerships.
In the same vein, the institution promotes access to clean cooking solutions, reducing environmental impacts. Furthermore, a low-carbon development trajectory will create economic opportunities while reducing overall emissions. Additionally, the integration of electrical grids will facilitate a single African electricity market.
The energy transition is accompanied by investments in renewable energies such as solar, wind, and hydroelectric power. Initiatives like decentralized mini-grids target rural areas, often marginalized. Meanwhile, technological innovation and the training of local technicians enhance the sustainability of these projects.
Feeding Africa and aiming for food self-sufficiency
The AfDB seeks to transform agriculture into an engine of food security and economic growth. Modernizing food systems will boost self-sufficiency and reduce dependence on imports, which stood at 35 billion USD until 2015. This figure could reach 110 billion USD by 2025 if the trend continues.
Investments in agricultural value chains thus become a development bank priority to stimulate productivity. Diversifying food systems will meet nutritional needs while increasing smallholders’ incomes. These efforts will include agroecology and technological innovations. Lastly, regional integration will facilitate the creation of special agro-industrial processing zones, essential to support youth and women in this sector.
The AfDB also plans to enhance the climate resilience of agriculture. Programs for sustainable soil and water management, combined with modern irrigation systems, will boost yields. Access to financing for farmers, particularly women, will stimulate local initiatives and job creation.
Industrializing Africa
Industrialization is a crucial lever for economic transformation, especially in Africa’s emerging countries. The agricultural and mining sectors play a central role in their economies. Export industries are primarily oriented towards raw materials or agricultural products, such as vanilla in Madagascar or diamonds in Botswana. Conversely, the continent’s imports consist mainly of finished products, creating a notable imbalance.
The AfDB thus encourages the development of industrial infrastructure, the transformation of extractive resources, and the sustainable use of natural gas. The manufacturing sector, stimulated by the African Continental Free Trade Area (AfCFTA), will meet the growing demand of cities and strengthen competitiveness. The financial institution will also support pharmaceutical, textile, and technological industries to create jobs and attract investments. Emphasis on renewable energies and AI-based solutions will reinforce sustainability.
Furthermore, strengthening technical and professional skills will facilitate the integration of youth into the labor market. Partnerships with international companies will promote technology transfer, thereby stimulating local innovation. Special economic zones will become centers of excellence to attract foreign direct investments.
Economically integrating Africa
Economic integration will enhance competitiveness and growth. The AfDB promotes the free movement of goods, capital, and people by removing tariff and non-tariff barriers. Developing cross-border infrastructure, including energy, rail, and air transport, will support connectivity. Mutual recognition of skills will facilitate labor mobility. Additionally, financial integration will enable institutions to facilitate cross-border transactions, thus boosting intra-African trade.
The AfDB will also invest in digital platforms to facilitate e-commerce and digital payments. These initiatives will support SMEs and startups, strengthening their ability to enter regional markets. Commercial dispute resolution mechanisms will simplify transactions and build trust among actors.
Improving the quality of life of populations
Agenda 2063 aspires to transform Africa into a prosperous, equitable, and inclusive region where women and youth play a key role. By 2033, significant progress in public health, education, and access to essential services will enhance living conditions. Empowering populations will drive social mobility and reduce inequalities. To support this vision, the priorities include:
- Strengthening health infrastructure
- Improving potable water and sanitation services
- Promoting climate resilience
Investments in primary healthcare and diagnostic and disease management equipment will be paired with electrification and digital connectivity projects. Concurrently, access to financing and services for young people and women entrepreneurs will be expanded. These efforts aim to create regional and global value chains while fostering innovation in emerging sectors. Technical and scientific training will receive increased support to curb brain drain and attract talent to the continent.
