From left to right : Eng. Sultan Abdulrahman Al-Marshad – CEO of SFD, Dr. Sidi Ould Tah – President of BADEA, Ms. Nialé KABA -Minister of Planning and Development, Côte d’Ivoire, Dr. Abdulhamid Alkhalifa – President of the OPEC Fund and Mr.Abdullah Al Mesaibih – Director of Operations of Kuwait Fund.
“BRIDGING AFRICA AND THE ARAB WORLD FOR A PROSPEROUS FUTURE”
The 6th edition of the Financial Afrik Awards (FAA) took place in Abidjan January 27-28th. This edition, -the third organized in Côte d’Ivoire-, took on a unique dimension by fostering a strategic dialogue between the Arab World and Africa. Placed under the auspices of the Arab Bank for Economic Development in Africa (BADEA), this flagship event for African finance leaders emphasized the necessity of establishing a roadmap for renewed Arab-Africa partnerships in order to reach a shared prosperity.
By Christine Holzbauer, special Envoy
Hosted in the vibrant city of Abidjan, the Financial Afrik Awards (FAA) 2025 will be remembered as the attempt to fulfill a collective ambition: to highlight transformative projects, celebrate African achievements, and explore synergies between Africa and the Arab world to build a prosperous future. According to the editor of Financial Afrik, Adama Wade, this 6th edition offers a “unique opportunity” to the African participants who came from all over the continent and overseas to meet with Arab funds. At a turning time for the latter since the Arab Coordination Group (ACG) under the coordination of Dr. Sidi Ould Tah, president of the Arab Bank for Economic Development in Africa (BADEA), celebrates -this year- the 50th anniversary of its creation, and is more determined than ever to increase its presence in Africa. “Together, these two regions can redefine the global economic landscape, create unprecedented opportunities, and lay the foundation for shared prosperity. A promising alliance is taking shape. We need to seize the momentum”, he added.
The Arab nations, particularly those in the Gulf, boast immense financial power. Their sovereign wealth funds, such as the Abu Dhabi Investment Authority ($993 billion in assets under management), the Saudi Public Investment Fund ($778 billion), and the Qatar Investment Authority ($475 billion), reflect colossal investment potential. These resources are bolstered by substantial trade surpluses fueled by hydrocarbon exports. On the other hand, Africa, a continent rich in natural and human resources, offers fertile ground for economic partnerships. Nations like Ivory Coast, with its rapidly growing economy, exemplify an ambitious Africa attracting investments in strategic sectors such as agriculture, infrastructure, and technology.
The example of Côte d’Ivoire
Addressing the assembly of African and Arab investors, the Ivorian Minister of Planning and Development, Nialé Kaba, emphasized the necessity of transforming key assets that her country holds such as agriculture, renewable energy, technology and education into sustainable and inclusive growth: “Côte d’Ivoire, like many other African nations, stands at the heart of a new dynamic. It symbolizes an Africa no longer content to be a raw material exporter but determined to become a leader in innovation and sustainable development”, she said in her inaugural speech.
Despite numerous opportunities, trade between the Arab World and Africa remains modest, totaling only $28 billion in 2022. Therefore, economic and financial integration needs to be strengthened to fully harness the existing potential. Key institutions such as BADEA, Afreximbank, the West African Development Bank (BOAD), and the ECOWAS Bank for Investment and Development (EBID) can play a crucial role in this process. These institutions embody regional and transcontinental integration by financing cross-border projects and facilitating trade.
Building a new roadmap
The first two roundtables discussed recent initiatives to “Bridging markets and mobilizing capital for growth” and “Harnessing collective strength for sustainable development” The UAE’s creation of a $5 billion fund for African infrastructure and the Arab Coordination Group’s (ACG) commitment to mobilize $50 billion for development projects are concrete examples of this shared determination to build a new roadmap.
In addition of the President of BADEA, panelists on the Arab side were Sultan Abdulrahaman Al-Marshad, CEO of SFD, Dr Abdulhamid Alkhalifa, President of OPEC Fund, Abdullah Al Mesaibih, Director of Operations of Kuwait Fund, and Sheikha Haya Abdulrahman Al-Tani, manager of the Strategic Department of Quatar Fund. Whereas on the African side, Serge Ekue, President of BOAD, Abdourahmane Diallo, DG of FSA, Dr. George Agyekum Donkor, President of the ECOWAS Bank for Investment and Development (EBID), and Thierno-Habib Hann, CEO Shelter Africa, participated in the discussions.
Dr. Zul Kifl Salami brought the point of view of an economist on how to boost the exchanges and fully capitalize on strategic partnerships, since he is himself at the crossroad of the two worlds. Among the key sectors that should warrant special attention were mentioned: leveraging Africa’s vast arable land, developing renewable energy to defeat climate change, new technology and education, which are the drivers of innovation and competitiveness for Africa’s youth.
New challenges to overcome
The numerous investment opportunities between Arab world and Africa that the Public-Private Partnerships (PPPs) hold were emphasized by all the participants. Among them, Mohamed Abdellahi Ould Yaha, Khalid Al Aboodi, senior adviser to the CEO of Saudi EXIM, Dr. Tarifa Alzaabi, DG of ICBA, Edmond Adjikpe, Chief of Regional Business Shelter Africa, Latifa El Bouabdellaoui, DG of ICDT, Pierre Goudiaby, President of ATEPA Group, Jerome Ehui, DG of Versus Bank, APBEF-CI, and Tshepidi Moremong, Chief Operating Officer Africa 50. However, as it was pointed outduring the panel, almost 80% of the PPPs projects are failing because of the lack of financing at the feasibility phase. Thus, the necessity to address those needs with venture capital that most financial institutions are not providing.
The last panel was dedicated to the role of banks, capital markets and cooperation in development financing: “Supporting the Financing Business, Industrialization and Value Chain Integration”. In addition to bettering instruments for reducing the perception of risk in Africa, as Lionel Zinsou, CEO of Southbridge, and Stanislas Zeze, CEO of Bloomfield Investment Corporation, pleaded for, Dr. Felix Edoh Kossi Amenounve, CEO of the BRVM, presented the progress made through the development of stock exchanges in Africa. Other panelists such as Jean Arsene Yerima, regional Chief operating Officer for the Francophone West African Regional Afreximbank, Riad Naouar, IFC regional manager of the Financial Institution group Upstream and Advisory Services for Noth, West and central Africa, Geraldine Mermoux, managing partner FINACTU, and Solange Amichia, DG Investment Promotion Center, CI as well as Bocar Sy, banker, praised the cooperation with the Arab not only to increase cash flow, but bring more long term Arab investments in the private sector.