The African Development Bank, AfDB, says Africa requires around $811 billion each year to achieve transformative economic growth, with a financing gap of $680 billion. The figures were highlighted by Abdul Kamara, the Bank’s Director General for Nigeria, at the Nigerian Economic Society conference in Abuja.
He identified infrastructure, energy access, education, and technology as priority sectors for investment. Transition states – fragile countries affected by conflict, insecurity, weak institutions, and climate change – would require about $210 billion annually, but currently face a shortfall of $188 billion.
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The Bank noted that fragility and conflict directly impact over 250 million Africans, hampering growth and the achievement of the Sustainable Development Goals. AfDB officials stressed the importance of capacity development, adding that the institution has a dedicated funding window for transition states to strengthen knowledge and resilience.
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