Reflections from the CGD Side Event: How Can Africa Finance Its Own Transformation?
IMF/World Bank Spring Meetings 2026
During a side event hosted by the Center for Global Development at the IMF/World Bank Spring Meetings 2026, leaders gathered to discuss a defining question for the continent: How can Africa finance its own transformation?
The panel featured Yemi Osinbajo, Tidjane Thiam, Greg Guyett, and Samaila Zubairu. Their discussion highlighted the urgent need for Africa to take greater ownership of its development agenda through smarter capital deployment, stronger institutions, and a more enabling business environment.
One of the most memorable moments for me, however, happened outside the formal discussion. I shared a brief moment of laughter with former Nigerian Vice President Yemi Osinbajo. The quick interaction carried great meaning – reminding me that laughter can dissolve invisible barriers between public figures and ordinary citizens, between titles and humanity, between influence and accessibility.
As an African diaspora woman and peacebuilding practitioner, I saw in that moment something larger: the possibility of connection. If we are to transform our continent, progress cannot rest solely in boardrooms or political offices. It must also be built through human encounters that create trust, humility, and shared purpose. Sometimes even a smile can open the door to collaboration.
Several themes from the session spoke louder. Speakers emphasized that investment in emerging markets is often shaped by the balance between risk and reward—an equation Africa must work to improve. This requires stronger rule of law, predictability in governance, and peaceful democratic transitions that reduce political risk premiums and create confidence for investors, regardless of changes in government. Stable institutions are not only governance assets; they are peacebuilding assets.
There was also a clear call for Africa to retain more ownership over its capital. High debt-servicing costs continue to consume resources that could otherwise fund infrastructure, innovation, and social development. Questions were raised about why significant revenues from fragile states are often held in foreign reserves outside the continent, rather than being strategically invested in local growth and resilience.
Another powerful point was the need to channel more affordable financing toward small and medium-sized enterprises. SMEs are the backbone of job creation, local innovation, and economic inclusion. Expanding access to capital for entrepreneurs—especially youth and women—can help reduce unemployment, curb forced migration, and lessen the drivers of instability and conflict.
Former Vice President Osinbajo also spoke about innovation through co-creation: building policies and regulations collaboratively, strengthening institutional capacity, and encouraging governments to listen more closely to the private sector. Sustainable transformation requires partnership, not silos.
Lastly, from a Gabonese and Nigerian perspective, there are meaningful opportunities for collaboration. Both countries are rich in natural resources, possess dynamic youth populations, and seek greater economic diversification beyond extractive sectors. Nigeria’s entrepreneurial scale and digital innovation ecosystem, combined with Gabon’s strategic location, environmental assets, and Central African connectivity, offer room for partnership in trade, green growth, agribusiness, education, and regional peacebuilding initiatives.
The takeaway from this session is simple: Africa’s transformation will require more capital, competence, courage, and connection. And sometimes, connection begins with something as simple—and as powerful—as laughter.
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