The African Development Bank Group has recognised civil society organisations, African diaspora networks, and philanthropic institutions as pivotal stakeholders in implementing its New African Financial Architecture for Development (NAFAD).

At a high-level policy dialogue held on 4 May 2026 at the Bank's headquarters in Abidjan, leaders from across these sectors agreed to jointly design the civic operational framework for the initiative. This collaborative commitment will be presented on 28 May in Brazzaville during a side event titled "Civil Society, Diaspora, and Philanthropy as Accelerators of NAFAD." This event will take place during the African Development Bank Group's 2026 Annual Meetings in the Congolese capital from 25 to 29 May.

NAFAD is Africa's strategic response to the continent's annual development financing gap estimated at $400 billion. The seeks to position African citizens and local communities not merely as beneficiaries of development programmes, but as active drivers of economic transformation.

"Whether it is a diaspora engineer mobilising capital for their home country or a private foundation directing endowments toward smallholder agriculture, NAFAD places human impact at the heart of every financial decision," said Didier Acouetey, NAFAD Coordinator and Special Adviser to the President of the Bank Group.

Championed by the President of the Bank Group, Dr Sidi Ould Tah, NAFAD aims to mobilise Africa's estimated $4 trillion in domestic savings--alongside approximately $100 billion in annual diaspora remittances and growing philanthropic capital. These resources will be channelled into structured investments for development.

Civil society organisations, diaspora networks, and philanthropic bodies are expected to play a central role in the process because of their close engagement with local communities.

"NAFAD is not merely a reform proposal; it is a declaration of financial sovereignty for Africa," Acouetey added. "This dialogue demonstrates the continent's capacity to build its future on its own foundations, fully integrating civic actors that were previously sidelined from major financial decisions."

Fatoumata Sidibé Diarra, Co-founder of the Think Tank Manssah, said the initiative marked a shift from consultation to "genuine co-investment partnerships."

"Africa no longer requires new aid frameworks," she said. "It needs ownership structures that allow communities and philanthropists to invest sustainably in inclusive well-being."

Ndidi Okonkwo Nwuneli, Executive Director of ONE Campaign, noted that African civil society organisations and diaspora communities were already helping to build this architecture on the ground. She urged the Bank Group to institutionalise this partnership at scale, asserting that NAFAD would only succeed if those closest to local populations were involved as co-architects of the process.

Closing the session, Zeneb Touré, Manager of the Civil Society and Community Engagement Division at the African Development Bank, said the discussions reflected a shared determination to move "from dialogue to action."

"The road ahead leads directly to the Annual Meetings in Brazzaville, where civil society, the diaspora, and the philanthropic sector will take their rightful place in co-constructing Africa's financial future," she said.