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Mission and Strategy
Context
The African Development Bank Group Ten-Year Strategy 2024-2033 is based on a positive outlook regarding Africa's potential to significantly improve its societies, economies, and the quality of life for its people. Africa has experienced a prolonged period of economic growth over the last two decades, which has consistently enhanced living standards across the continent. Over the next decade, Africa can create sustained growth, drive transformation, and contribute towards critical global solutions. Its progress will be driven by its unique assets: a young and dynamic workforce, growing urban consumer markets, integration of national economies, substantial clean energy potential and extensive natural resource wealth.
Our Vision and Objectives
The Strategy outlines the vision of an Africa that is ‘‘prosperous, inclusive, resilient and integrated.’’ This vision is supported by twin strategic objectives, which are accelerating inclusive green growth and driving prosperous and resilient economies in Africa.
Operational priorities
The AfDB is advancing Africa's development through its "High 5" priorities, targeting critical sectors for transformative growth: Light-up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa. This approach aligns with Africa’s core development needs and leverages the Bank's strength in delivering impactful investment projects.
To unlock the transformative potential of the High 5s, the Bank will focus on several overarching priorities: promoting gender equality; investing in the youth; addressing and mitigating climate change; enhancing resilience to shocks, fragility, and conflict; and reinforcing economic governance.
Strategic Approaches to Global and Regional Challenges
The Bank will focus on tackling global and regional challenges that cross national borders, such as climate change, health crises, and economic instability by expanding public and private sector operations. It aims to triple private sector financing by 2033 while enhancing domestic and international resource mobilization and attracting private finance, particularly for MSMEs led by women and youth. Additionally, the Bank plans to increase its financing capabilities, responding to demands for more efficient use of MDB balance sheets.
Boosting the Bank’s Impact
As we embark on the 2024-2033 Strategy, the Bank is committed to deepening its role as a pivotal development partner. Over the next decade, we will strengthen our operational model to navigate opportunities and challenges, fostering investment in regional and global public goods. Our strategic approach includes enhancing operational quality, developing a strong project pipeline, and fine-tuning implementation processes to maximize impact. Concurrently, we will bolster knowledge of regional and country-specific dynamics to effectively address Africa's unique challenges and opportunities, from climate resilience to economic inclusivity.
