Africa currently grapples with an unprecedented array of challenges. Recent global events have raised concerns over sharp reductions in external aid flows and widespread disruptions to international trade, jeopardising Africa’s aspirations for deeper integration into the global economy. These new threats exacerbate ongoing challenges stemming from the COVID-19 pandemic, geopolitical tension and economic instability, mounting debt crises, and the accelerating impacts of climate change. These shocks pose a serious risk to Africa’s economic transformation and long-term development.

The continent, however, stands at a pivotal moment, rich with potential and promise. To overcome the challenges ahead, it must harness its immense potential — its vast natural resources, rapidly growing urban centres, increasingly integrated markets, and young, dynamic workforce. Africa can achieve its development goals by leveraging these unique strengths to build resilience and drive transformation.

This year’s Annual Development Effectiveness Review (ADER) shines a light on the Bank’s key role in harnessing and unlocking Africa’s immense potential. As the continent’s leading development finance institution, the Bank is not only driving transformative infrastructure projects but also reshaping Africa’s future.

Report by the African Development Bank