UK and Ghana Host African Development Conference in London
The United Kingdom and Ghana have jointly hosted the African Development Fund (ADF) 17th Replenishment Pledging Conference in London, galvanizing international support for Africa’s most vulnerable nations.
The high-level conference, held at the European Bank for Reconstruction and Development headquarters, highlighted the shared commitment of Ghana and the UK to sustainable development, resilience, and inclusive growth across the continent.
Ghana’s co-hosting role is seen as a mark of renewed confidence in the country’s economic recovery and ongoing reforms. Having navigated a period of macroeconomic challenges, Ghana has demonstrably restored fiscal discipline and strengthened its relationships with multilateral partners.
Leading global financial figures attended the event, including Ludovic Ngatsé, Chairperson of the African Development Bank’s Boards of Governors and Republic of Congo’s Minister of Economy, Planning and Regional Integration, alongside Presidents from the Islamic Development Bank Group, the Arab Bank for Economic Development in Africa, and the OPEC Fund for International Development.
Ghana’s Deputy Minister of Finance, Thomas Nyarko Ampem MP, expressed the nation’s pride in co-hosting the conference and championing Africa’s development priorities. “Ghana is proud to have co-hosted this important conference and to champion Africa’s voice in shaping development priorities,” he said. “Earlier this year, Ghana joined four other countries in pledging US$16 million to the ADF, the first time all five countries in our constituency contributed. This demonstrates our commitment to reforms and partnerships that deliver tangible results for our people.”
UK Minister for Development, Jenny Chapman, affirmed the UK’s long-standing partnership with the African Development Bank and its dedication to promoting sustainable and inclusive growth in Africa. “The UK is proud to co-host the 17th replenishment of the African Development Fund alongside the Republic of Ghana,” she stated. “We have a long-standing partnership with the African Development Bank and support it in driving sustainable and inclusive growth on the continent – for the benefit of the UK and our African partners.”
Chapman also pointed to the UK’s evolving role as an investor in Africa, aligning with countries committed to reforms that foster economic growth and reduce reliance on aid. “The UK’s shifting role – from donor to investor – will support countries who want to grow their economies and ultimately exit the need for aid,” the minister noted.
In May 2024, Ghana pledged US$5 million to the African Development Fund, joining The Gambia, Liberia, Sierra Leone, and Sudan in a historic surge of African participation. These nations have all been actively pursuing fiscal and governance reforms in line with the Bank’s emphasis on performance and collaborative financing.
ADF investments in Ghana have particularly supported women-led businesses and expanded access to energy through mini-grid solutions, thereby strengthening inclusive growth and energy security. The expected increase in African participation signals a growing sense of ownership over the continent’s development agenda.
The successful co-hosting by Ghana also underscores President John Dramani Mahama’s ‘Reset Agenda’, which aims to establish Accra as a central hub for global development discussions, advocating for fairer, country-led development models and reforms within the international financial architecture.
Image Source: MYJOYONLINE
