Strengthening project preparation, improving pipeline development, and deepening coordination across institutions were identified as key priorities to unlock large-scale financing.
TANGIER, Morocco, African multilateral financial institutions, policymakers, development partners, and private sector leaders have called for more coordinated, innovative, and better-structured financing approaches to support Africa’s digital and technological transformation.
This was a key message from a high-level session held on April 1 on the sidelines of the 58th Session of the Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development, under the theme “Financing for Innovation: The Role of African Multilateral Financial Institutions in Accelerating Africa’s Technological and Economic Transformation.”
The session brought together senior representatives from governments, African multilateral financial institutions, and development partners to examine how to mobilize long-term, affordable capital for digital infrastructure, artificial intelligence, and innovation-led sectors—critical drivers of productivity, job creation, and structural transformation.
Despite the rapid expansion of Africa’s digital economy, participants underscored that access to affordable, long-term financing remains a binding constraint.
High costs of capital, limited risk-sharing mechanisms, currency risks, and insufficient early-stage financing continue to inhibit investment in digital infrastructure and innovation ecosystems. These challenges are further compounded by gaps in project preparation and the limited availability of bankable investment opportunities.
Opening the session, Hanan Morsy, Deputy Executive Secretary (Programme) and Chief Economist at the United Nations Economic Commission for Africa, emphasized:
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