Experts have urged African countries to strengthen bankable projects to attract private capital and accelerate the delivery of the Sustainable Development Goals (SDGs).
The experts said this at the ongoing 12th African Regional Forum on Sustainable Development, focused on mobilising large-scale investments through innovative financing instruments monitored virtually.
They made the call at a private sector session convened by the United Nations Economic Commission for Africa (ECA) in partnership with Convergence Blended Finance and the International Institute for Environment and Development.
The Participants emphasised the need to move from fragmented initiatives to coordinated and structured approaches that can deliver measurable results.
They said blended finance, innovative debt instruments, and risk-sharing mechanisms are critical tools for unlocking private investment.
Ms Ngone Diop, Director of ECA Subregional Office for West Africa, said shrinking fiscal space was limiting Africa’s ability to finance development.
She called for urgent adoption of innovative financing solutions and stronger public-private partnerships.
According to her, such measures are necessary to mobilise investments and accelerate SDG implementation across the continent.
Also speaking, Ms Soumaya Iraqui, Chief of Section at ECA’s Subregional Office for West Africa, said fiscal pressures had intensified in recent years.
She said that fiscal space in West Africa had narrowed significantly between 2020 and 2025, with rising debt levels posing structural constraints.
Iraqi officials emphasised that the situation underscored the urgency of developing sustainable and attractive investment pathways.
The session also highlighted the growing role of debt-for-climate and debt-for-development swaps in expanding fiscal space.
Participants cited ongoing initiatives in Senegal, The Gambia, and Ghana as examples of innovative financing in practice.
They said such mechanisms could reduce the cost of capital and support investments in climate action and social development.
The experts agreed that stronger coordination among governments, development partners, and the private sector was essential.
They added that building credible, well-prepared projects would be key to attracting large-scale private investment.
The session formed part of the ARFSD-12 Private Sector Forum focused on strengthening partnerships to accelerate SDG progress in Africa.
