By Arret Jatta
President Adama Barrow called for stronger investment, innovation and partnerships to accelerate Africa’s economic transformation while addressing the 2026 IMF, World Bank African Caucus which opened in Banjul yesterday.
The president told finance ministers, central bank governors, senior officials of the International Monetary Fund (IMF), the World Bank Group and other development partners, that Africa possesses abundant natural resources, a youthful population and immense innovation potential but continues to face mounting challenges, including climate change, infrastructure deficits, geopolitical tensions and financing gaps.
Held under the theme “Transforming Africa’s Economies Through Investment, Innovation and Inclusion,” the three-day meeting is expected to shape Africa’s common position on key economic and development issues ahead of the IMF and World Bank annual meetings.
Barrow said the continent must strengthen cooperation and pursue practical solutions to unlock its economic potential and deliver sustainable, inclusive growth.
“It requires all hands on deck,” the president said, noting that governments, international financial institutions, development partners and the private sector all have a role to play in addressing Africa’s development challenges.
He described the African Caucus as an important platform for leaders and experts to exchange ideas and develop coordinated responses to the continent’s economic challenges, saying the discussions should produce practical recommendations capable of advancing Africa’s development agenda.
“The outcome of this meeting should address the persistent and emerging issues affecting our continent and strengthen our coordinated efforts towards achieving our development goals,” Barrow said.
The president reaffirmed his government’s commitment to working closely with the World Bank Group and other development partners to tackle unemployment, poverty and climate change while promoting inclusive economic growth.
Also speaking at the opening, the Minister of Finance and Economic Affairs Seedy Keita said Africa must move beyond acknowledging its enormous potential and instead focus on implementing policies that create jobs, expand access to finance and build resilient economies.
Keita, who chairs this year’s African Caucus, urged African governments to strengthen domestic revenue mobilisation, deepen capital markets and support small and medium-sized enterprises to drive economic transformation.
World Bank Vice President for Western and Central Africa Ousmane Diagana, echoed the call, saying Africa’s greatest priority should be creating jobs for its rapidly growing young population through strategic investment in sectors such as energy, agribusiness, manufacturing, healthcare and tourism.
The African Caucus brings together African finance ministers and central bank governors to coordinate the continent’s position on global economic and financial issues while strengthening engagement with the IMF and the World Bank on Africa’s development priorities.