African private-sector players and AfDB officials discuss business opportunities

By Monica MUEMA

On the fourth day of the African Development Bank Group’s (www.AfDB.org) Annual Meetings in Abidjan (http://apo-opa.co/3ZcPGZZ), a seminar on business opportunities with the Group brought together private-sector players from 40 African countries and led to constructive exchanges with Bank officials.

“Africa will not develop without a robust private sector. This seminar should give you a better understanding of how the Bank operates and how to work with us,” Gauthier Boulard, Senior Director of Resource Mobilization and Partners at the African Development Bank, told participants.

During the seminar, the Bank provided updated information on its procurement plan and contractual policies, as well as on procedures for accessing business opportunities for companies or projects. Information was also shared on procurement rules, integrity and corruption.

“With regard to our Ten-Year Strategy 2024-2033 (http://apo-opa.co/4jANgMb), we expect to have to finance more transformative projects, i.e. projects that bring about change in the market in which they take place…. We are ready to support the private sector,” said Ronald Rateiwa, Senior Strategy, Policy and Infrastructure Officer at the African Development Bank.

Cheikh Ibra Faye, Director of Faye Groupe Services, a company active in Senegal, Mali and Côte d’Ivoire, commented: “I have just learned important information that I’ve been looking for for a year. I have a plan to replace West Africa’s urban vehicle fleet with vehicles powered by renewable energy, and I’d like to know what support is available from the African Development Bank,” he said.

Aude Apetey-Kacou, Manager of Private Sector Operations for West Africa at the Bank, responded: “The Bank finances urban transport. So the fleet project meets one of our criteria. We would then need to discuss the project in a different setting, to find out more about its structure, the current state of financing and the progress of the studies already carried out, so that we can make a decision.”

The creation of characteristically African social media, setting up biometric laboratories to combat cervical cancer, satellite imagery and the financing of small and medium-sized enterprises were just some of the projects brought to the attention of the Bank’s management by private-sector players.

“Health is a key sector that the Bank intends to support and is already involved in. There are other sectors that are just as important, and we’ll have the opportunity to talk about them again,” confirmed Boris Honkpehedji, Senior Manager of Private Sector Operations at the African Development Bank.

As of 31 December 2024, the African Development Bank Group’s investment portfolio had devoted 46% of its financing to the financial sector, 16% to energy, 15% to industry, 9% to transport, 9% to agriculture and social affairs, and 5% to multi-sector projects.