In a landmark announcement, the African Development Bank Group unveiled its new 10-Year Strategy 2024–2033 today, outlining a blueprint to confront Africa’s most pressing issues and put the continent firmly on the path to sustained economic growth and prosperity.

Unveiled during the Bank’s Annual Meetings, the strategy sets out decisive and urgent actions to support African countries navigate unprecedented global and regional challenges. These include the aftermath of the COVID-19 pandemic, heightened food insecurity, a burgeoning debt crisis, and the intensifying impacts of climate change.

“As Africa’s premier development finance institution, we are acutely aware that the next decade will be decisive in transforming the continent,” said African Development Bank Group President Akinwumi Adesina. We remain resolute in our determination to accelerate the support we provide to African countries.

The 10-Year Strategy highlights several key priorities, including investing in Africa’s vibrant young population, which is the fastest growing and youngest workforce in the world. The strategy also emphasizes promoting low-carbon development and climate change adaptation to safeguard the continent’s future, as well as assisting fragile states and building resilience amid rising conflicts and political instability. Additionally, the strategy underscores the importance of good governance, domestic resource mobilization, and sustainable debt management.

The strategy also underscores the pivotal role of the private sector in driving Africa’s transformation, with the Bank pledging to triple private sector finance by 2033. Recognizing the magnitude of the challenges, the Bank has pledged to mobilize resources from diverse sources, including domestic revenues and innovative financing mechanisms, to scale up its efforts and deliver lasting impact across the continent. For Details.