非洲HRI路线图：为非洲前沿市场筹集资金

W H I T EP A P E RM A Y2 0 2 6 Contents Foreword3 Preface4 Executive summary5 1The investment deficit in frontier markets6 2From humanitarian action to sustainable investment in frontier markets72.1 HRI framework for frontier market cooperation7 3Operationalizing the HRI framework for frontier market cooperation123.1 Leveraging a global network of partners123.2 Role of the African Development Bank123.3 HRI Roadmap for Africa14 4Join us in transforming Africa’s frontier markets17 Appendix18 Contributors20 Endnotes21 Disclaimer This document is published by theWorld Economic Forum as a contributionto a project, insight area or interaction.The findings, interpretations andconclusions expressed herein are a resultof a collaborative process facilitated andendorsed by the World Economic Forumbut whose results do not necessarilyrepresent the views of the World EconomicForum, nor the entirety of its Members,Partners or other stakeholders. ©2026 World Economic Forum. All rightsreserved. No part of this publication maybe reproduced or transmitted in any formor by any means, including photocopyingand recording, or by any informationstorage and retrieval system. Foreword Dr. Sidi Ould TahPresidentAfrican DevelopmentBank Group Alois ZwinggiPresident and ChiefExecutive OfficerWorld Economic Forum The World Economic Forum has long championedthe role of multi-stakeholder collaboration infostering economic resilience. Through the HRIinitiative, the Forum is engaging over 100 partnersglobally to catalyse impact-driven investmentin frontier markets. By aligning with Africangovernments, the HRI initiative can support actorsto work together in creating the enabling conditionsnecessary to mobilize commercial and catalyticcapital at scale. TheHumanitarian and Resilience Investing (HRI)Roadmap for Africamarks a critical milestone in ourshared efforts to unlock investment in Africa’s frontiermarkets. At a time when global crises continue toexacerbate vulnerabilities, the need for cross-sectorcollaboration and innovative investment strategiesthat drive sustainable development has never beenmore pressing. Amid continued turbulence andcontraction in aid and development finance, thereis a timely and compelling opportunity to transformAfrica’s financial architecture and accelerate theparadigm shift from aid dependency to investment-led development. This effort represents a unique collaborationbetween the World Economic Forum and theAfrican Development Bank Group, and we call ongovernments, investors, donors and developmentpartners to join us in implementing this ambitiousyet critical roadmap. By working together, we cancrowd in private capital, unlock Africa’s immensepotential, strengthen resilience in frontier and fragilemarkets, drive sustainable growth and createinclusive, long-term economic opportunities acrossthe continent. The African Development Bank (AfDB) iscommitted to addressing the persistent investmentdeficit in Africa’s most fragile and crisis-affectedregions. The roadmap’s focus on mobilizingcapital to invest in market-oriented solutionsaligns with the strategic vision for acceleratingAfDB’s Ten-Year Strategy (2024-2033) throughfour cardinal points: (i) Unlock Africa’s capitalpower, (ii) Rebuild Africa’s financial sovereignty,(iii) Turn demographics into a dividend and(iv) Build resilient infrastructure and add real value. Preface Marie-Laure Akin-OlugbadeSenior Vice PresidentAfrican Development BankGroup Bathsheba Nell CrockerManaging DirectorWorld Economic Forum TheHumanitarian and Resilience Investing (HRI)Roadmap for Africais the outcome of a closeand sustained collaboration between the AfricanDevelopment Bank and the World EconomicForum, driven by a shared commitment toaddressing underinvestment in Africa’s frontiermarkets through market-based, impact-orientedsolutions. The roadmap reflects a deliberateeffort to bridge humanitarian, developmentand private capital approaches in contextscharacterized by fragility, vulnerability anduntapped economic potential. mobilize capital at scale, while addressing bindinginvestment constraints in frontier markets. In doingso, it supports a shift from fragmented aid-driveninterventions toward investment-led approachesthat generate jobs, strengthen local markets andenhance resilience. This document is intended as both a strategicreference and an operational guide. It outlines aphased, country-driven approach to implementationthat prioritizes learning, adaptability and scalability,enabling the model to be refined and expandedacross diverse contexts. Its success will dependon continued partnership, policy alignment andcollective commitment to crowding in capital whereit is most needed. Building on the global HRI initiative, the roadmapadapts the HRI framework to African realities,emphasizing country ownership, subnationalengagement and coordinated action amonggovernments, communities, development andhumanitarian actors, investors and the privatesector. By c