Africa stands at a pivotal juncture, teeming with the dynamism of a youthful, entrepreneurial population, poised to unlock unprecedented growth. Yet, the journey towards a high-middle-income economic status remains profoundly challenged by a development finance architecture that, in its current form, is simply not fit for purpose. The prevailing model, characterised by anaemic domestic resource mobilisation, exorbitant debt burdens, punitive credit ratings, and an over-reliance on volatile external financing, demonstrably shackles the continent's prodigious potential. The ambition to finance Africa's development goals, while palpable, is consistently undermined by these structural limitations, perpetuating debt sustainability issues and impeding sustained, inclusive growth.
It is against this backdrop that select National Development Banks (NDBs) across the continent have managed to carve out paths of remarkable effectiveness. In an environment where many NDBs struggle for relevance and adequate support within a fragmented financial landscape, some have not merely survived but thrived, setting benchmarks for their peers. The Uganda Development Bank (UDB), for instance, serves as a compelling illustration of an NDB that has achieved significant operational and developmental impact, demonstrating how a robust institution, when well-governed and adequately capitalized, can translate directly into tangible economic and social returns. Its trajectory offers invaluable lessons in how a development finance institution can effectively contribute to a nation's prosperity.
This summit, therefore, is not merely a conference; it is a strategic imperative to dissect the deficiencies of the existing system and, more importantly, to chart a course for a comprehensive transformation of Africa’s development finance architecture, with empowered NDBs at its very core.
The programme for the Uganda Development Finance Summit has been designed for a diverse, high-level audience committed to shaping Africa's economic future. Participants will include: