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Africa’s Financial Leaders Gather in Abidjan to Launch Bold New Capital Architecture

The African Development Bank Group will convene a high-level consultative dialogue in Abidjan this week, bringing together the continent’s financial leadership to advance a proposed New African Financial Architecture (NAFA). The meeting, scheduled for 9 April 2026 at the Sofitel Abidjan Hôtel Ivoire, is framed as a pivot from policy discussion to implementation.

Held under the patronage of Alassane Ouattara, the gathering will be led by the Bank’s president, Sidi Ould Tah. It is expected to draw central bank governors, sovereign wealth fund executives,

African Development Bank Group

African Development Group Bank

The scale of the challenge is well rehearsed. The continent faces an estimated annual development financing gap exceeding $400bn. Yet this shortfall sits alongside roughly $4tn in long-term domestic savings, underscoring structural inefficiencies rather than an absence of capital. Fragmented institutions, weak risk allocation mechanisms and limited coordination between public and private balance sheets have constrained the effective deployment of these resources.

NAFA, the framework championed by the African Development Bank, seeks to address these shortcomings through a systemic reorganisation of capital mobilisation and risk distribution across the financial ecosystem. Anchored in Dr Ould Tah’s “Four Cardinal Points” strategy, the initiative aims to enhance leverage, deepen capital markets and improve the interface between domestic savings and investment pipelines.

The Abidjan dialogue marks the first attempt to convene the continent’s financial actors under a single, coordinated architecture. Organisers present it as a decisive shift from diagnostic phase to execution, following a series of consultations conducted since late 2025.

Discussions will be structured around nine thematic working groups, or “Labs”, organised across three pillars: system architecture, capital mobilisation and capital deployment. Each is expected to produce actionable outputs, ranging from financial instruments and investment platforms to regulatory and institutional frameworks.

The meeting is set to culminate in the adoption of an “Abidjan Consensus”, intended to formalise commitments and provide a roadmap for implementation. Whether this effort can translate into measurable shifts in capital flows will depend on the extent to which participating institutions align incentives and move beyond fragmented approaches that have historically limited scale.

Africa

Zia Yusuf from Reform UK Proposes Blocking Visas for Citizens of Countries Pursuing Slavery Reparations

Zia Yusuf, Reform UK’s home affairs spokesperson, has announced plans to deny visas to citizens of any country pursuing compensation for Britain’s historical role in the transatlantic slave trade, a move that has drawn international attention.

He described reparations claims as “insulting,” noting that 3.8 million visas have been issued over the past 20 years to nationals from countries making such demands.

The transatlantic slave trade, conducted over four centuries by seven European powers including the UK, forcibly transported more than 15 million Africans. Scholars link the wealth generated from slavery to the industrial rise of the West, a legacy that continues to shape global economic and social disparities.

Last month, the UN recognised the transatlantic slave trade as the “gravest crime against humanity” and called for reparations as a step toward remedying historical injustices. The resolution, proposed by Ghana’s President John Dramani Mahama and endorsed by the African Union and Caricom (Caribbean Community), was abstained by the UK and EU members, while the US, Israel and Argentina voted against it.

Yusuf argued that Britain had made “huge sacrifices” by being the first major power to abolish slavery and enforce its prohibition, insisting that the UK would no longer tolerate being “ridiculed on the world stage.” He added that countries pressing for reparations were attempting to “use history as a weapon to drain our treasury” and stressed that Reform UK would also cut international aid to nations making such claims.

Yusuf Zia, UK Reform Home Affairs Spokesman, appears in Picture @Ghana Chronicles X's account.

Yusuf Zia, UK Reform Home Affairs Spokesman, appears in Picture @Ghana Chronicles X’s account.

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Africa

DR Congo Secures Duty-Free Access to China, Strengthening Mining Competitiveness

The Democratic Republic of Congo has moved to deepen its economic engagement with China, formalising a new phase of cooperation centred on geology and mineral resources, as Kinshasa seeks to extract greater value from its vast natural wealth.

During a visit to Beijing on March 26, 2026, Congolese officials signed a memorandum of understanding with China’s Ministry of Natural Resources, led by Minister Guan Zhi’ou. The agreement sets out a structured framework for collaboration, underpinned by regular institutional dialogue, guarantees on investment protection and a commitment to operate within Congo’s legal and regulatory regime.

Crucially, the deal places renewed emphasis on local value creation, with both sides endorsing the development of domestic processing capacity rather than the continued export of raw materials. This reflects a broader shift in Congolese policy aimed at capturing a larger share of the mining value chain.

The agreement comes with immediate commercial incentives. From May 1, 2026, Congolese exports to China will benefit from duty-free access, a move expected to improve the competitiveness of the country’s mining sector and support near-term growth. Officials on both sides have also committed to establishing a joint monitoring mechanism designed to oversee implementation, ensure regulatory compliance and provide a stable environment for investors.

Particular attention is being directed towards large-scale industrial projects, notably the Grande Orientale Iron Mines (MIFOR). The project, which has drawn significant interest from Chinese partners, is expected to begin with an annual output of 50m tonnes of iron, with ambitions to scale up to 300m tonnes over time. Initial investment is estimated at $28.9bn, positioning it among the most capital-intensive mining developments on the continent.

The strengthening of ties with Beijing comes at a moment of intensifying geopolitical competition over critical minerals, with Kinshasa increasingly leveraging its resource base to negotiate partnerships on more favourable terms. Congolese officials maintain that diversified engagement — including with China and Western partners — remains central to their strategy.

Looking ahead, the Congolese minister has been invited to participate in the International Forum of Ministers of Mines in September, where a joint intervention with his Chinese counterpart is under consideration, signalling continued high-level coordination between the two countries.

The Democratic Republic of Congo has moved to deepen its economic engagement with China, formalising a new phase of cooperation centred on geology and mineral resources, as Kinshasa seeks to extract greater value from its vast natural wealth.

During a visit to Beijing on March 26, 2026, Congolese officials signed a memorandum of understanding with China’s Ministry of Natural Resources, led by Minister Guan Zhi’ou. The agreement sets out a structured framework for collaboration, underpinned by regular institutional dialogue, guarantees on investment protection and a commitment to operate within Congo’s legal and regulatory regime.

Crucially, the deal places renewed emphasis on local value creation, with both sides endorsing the development of domestic processing capacity rather than the continued export of raw materials. This reflects a broader shift in Congolese policy aimed at capturing a larger share of the mining value chain.

The agreement comes with immediate commercial incentives. From May 1, 2026, Congolese exports to China will benefit from duty-free access, a move expected to improve the competitiveness of the country’s mining sector and support near-term growth. Officials on both sides have also committed to establishing a joint monitoring mechanism designed to oversee implementation, ensure regulatory compliance and provide a stable environment for investors.

 

March 26th in Beijing-DR Congo's Minister Louis Watum and China's Minister of Natural Resources, Guan Zhi’ou, signing MoU.

March 26th in Beijing-DR Congo’s Minister Louis Watum and China’s Minister of Natural Resources, Guan Zhi’ou, signing MoU.

Particular attention is being directed towards large-scale industrial projects, notably the Grande Orientale Iron Mines (MIFOR). The project, which has drawn significant interest from Chinese partners, is expected to begin with an annual output of 50m tonnes of iron, with ambitions to scale up to 300m tonnes over time. Initial investment is estimated at $28.9bn, positioning it among the most capital-intensive mining developments on the continent.

The strengthening of ties with Beijing comes at a moment of intensifying geopolitical competition over critical minerals, with Kinshasa increasingly leveraging its resource base to negotiate partnerships on more favourable terms. Congolese officials maintain that diversified engagement — including with China and Western partners — remains central to their strategy.

Looking ahead, the Congolese minister has been invited to participate in the International Forum of Ministers of Mines in September, where a joint intervention with his Chinese counterpart is under consideration, signalling continued high-level coordination between the two countries.

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Africa

Is the DRC Emerging as the U.S.’s Strongest Ally in the Great Lakes? New Pact Links Deportees Transfers to Security and Mineral Access

The recent U.S.–DRC strategic agreement marks a significant shift in regional dynamics, linking security cooperation directly to access to critical minerals such as cobalt, coltan, and gold. This reflects a broader trend of heightened global competition over these resources and a reduced tolerance for indirect influence via regional intermediaries.

Eastern Congo, often framed solely as a conflict zone, is increasingly recognized as a strategic resource hub. The Democratic Republic of Congo is reasserting its post-colonial-era geopolitical significance, with the United States emerging as a strong regional ally. Western partners appear to be aligning with this U.S.–DRC pivot.

The December 2025 agreement extends beyond mineral trade. Recent confirmations by Congolese officials indicate that a third-country deportees deal has also been agreed, alongside ongoing joint military engagements. President Tshisekedi frames Washington as a trusted partner, reinforcing the strategic depth of this cooperation.

China remains a critical factor in Congo’s mining sector, posing questions about how Kinshasa will navigate competition between two major powers. Congolese officials highlight the country’s capacity—both in landmass, comparable to all of Central Europe, and in a population of 120 million—to engage multiple global actors while retaining leverage over its mineral wealth.

The geopolitical clock is running. With the U.S. administration term ending in 2028, there is a narrow window to address decades of insecurity, particularly challenges posed by the M23 insurgency, historically backed by Rwanda. The competition over influence, resources, and regional stability in the DRC is intensifying, signaling that the next few years will be decisive for both Congolese sovereignty and broader Great Lakes security.

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