Africa: Financing Africa's Digital Future - Institutions Push for Smarter, Coordinated Funding

What the report says

AllAfrica, carrying an Inter Press Service report by the United Nations Economic Commission for Africa, reported that African financial institutions, policymakers, development partners and private-sector representatives are urging a more coordinated approach to funding the continent’s digital transformation. The discussion took place on the sidelines of the 58th session of the UN Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development, held in Morocco in April 2026.

According to the report, participants said Africa’s challenge is not simply a lack of money, but a mismatch between available capital and the types of long-term, affordable financing needed for digital infrastructure, artificial intelligence and other innovation sectors. UNECA Deputy Executive Secretary and Chief Economist Hanan Morsy framed the issue as one of financing design rather than ideas, while Haytham Elmaayergi of Afreximbank pointed to weak project preparation and limited institutional coordination as barriers to scaling investment.

Speakers highlighted high borrowing costs, currency risks, thin venture finance and limited risk-sharing tools as obstacles, especially for early-stage technology ventures. They called for blended finance, co-financing, guarantees, technical assistance and instruments tailored to digital-sector risk. Robert Lisinge of UNECA also stressed that technology investment depends on wider systems, including energy, connectivity, infrastructure and regulation.

The report identified the Alliance of African Multilateral Financial Institutions, also called the Africa Club, as a key coordination platform. Founded in 2024, it brings together institutions including Afreximbank, the Africa Finance Corporation and the Trade and Development Bank, with a combined balance sheet reported at more than $70 billion. Participants said the next step is implementation: lowering capital costs, improving project pipelines and aligning African-led financing with the continent’s development priorities.