Africa’s journey towards economic transformation requires bold reforms, stronger institutions, sustained investments, and deeper partnerships to unlock the continent’s vast potential, The Gambia’s Minister of Finance and Economic Affairs, Seedy K.M. Keita, has said.
Speaking at the closing of the 2026 meeting of African Governors of the International Monetary Fund (IMF) and World Bank Group (WBG) held in Banjul, Mr. Keita said African countries must take decisive steps to build stronger, more inclusive, and resilient economies.
He said the discussions over the three-day meeting provided an opportunity to reflect on the challenges facing African economies while identifying practical pathways to accelerate development.
“We have examined the challenges confronting African economies, including constrained fiscal space, rising vulnerabilities, and an increasingly uncertain global environment. At the same time, we have reaffirmed our confidence in Africa’s immense potential, rooted in the resilience of our people, the value of our resources, the pace of our innovation, and the promise of deeper regional integration,” he said.
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Mr. Keita noted that Africa possesses significant opportunities for growth through its natural resources, youthful population, technological advancement, and expanding regional cooperation. However, he stressed that these opportunities can only be fully realised through meaningful reforms and strategic investments.
He outlined key areas requiring urgent attention, including strengthening domestic revenue mobilisation, developing stronger financial systems, supporting small and medium-sized businesses, promoting value addition in natural resources, improving infrastructure, and investing in human capital.
According to him, these priorities are essential for building economies that are more diversified, inclusive, and better prepared to withstand future economic shocks.
Mr. Keita also emphasised the importance of stronger collaboration between African countries and international development partners, particularly in ensuring that global support aligns with Africa’s development priorities.
“We have spoken with clarity about the need for closer alignment with Africa’s development priorities, stronger coordination and greater responsiveness, and more effective support for implementation of development priorities at country level,” he said.
He described Africa’s unity as one of the continent’s greatest strengths in engaging global partners and called for continued cooperation to advance reforms and investments needed for sustainable development.
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“Our unity remains one of our greatest assets and will continue to enhance the effectiveness of our engagement with global partners,” Mr. Keita said.
He added that while the challenges facing Africa remain significant, the continent’s collective determination and commitment to reform provide a strong foundation for progress.
“Africa’s future will be shaped by our collective determination to act with urgency, coherence, and ambition,” he concluded. “Let us remain united in purpose, strengthened by our partnership, and inspired by the possibilities before us.”