The meetings, which end on Friday, run under the theme: “Making Africa’s capital work better for Africa’s development.”
AfDB says the theme reflects its commitment to strengthen collaboration with regional member countries.
This involves identifying opportunities and implementing specific policies to make Africa’s capital – whether human, natural, financial, or commercial – the main driver of the continent’s structural transformation and transition to more inclusive, greener, and resilient economies over the coming decades.
The strategy is expected to leverage external capital flows from partnerships.
Over 6 000 delegates, including African Heads of State and Government, finance ministers, central bank governors, development partners, private sector representatives, civil society leaders, academics, think-tanks, and opinion leaders, NGOs, and other stakeholders are participating in the event.
Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, is also expected here, principally to attend the high-level side event on Zimbabwe’s arrears clearance and debt resolution.
The AfDB has organised the side event in collaboration with the Government to advance Zimbabwe’s arrears clearance and debt resolution process.
As of last year, Zimbabwe’s public debt and arrears were US$21 billion made up of US$13 billion external debt and US$8 billion domestic debt.
In February 2022, President Mnangagwa appointed Dr Adesina to champion the arrears clearance process and invited former Mozambique President Joachim Chissano to facilitate dialogue.
Considerable progress has been made over the last two years, and most creditors are hopeful a favourable solution would be found.
The side event starts at 3pm.
The AfDB says the event focuses on mobilising financial support for Zimbabwe’s arrears clearance efforts.
Key stakeholders – including the Bank’s shareholders, potential champion countries for bridge financing, and representatives of compensated former farm owners – will play a central role in this critical initiative.
The Davos-style panel is set to feature top dignitaries, including AfDB president Dr Akinwumi Adesina, the champion of Zimbabwe’s arrears clearance process, former Mozambique President Joaquim Chissano the high-level facilitator of the process, and Prof Ncube.
Other participants include executive director for Zimbabwe at the AfDB Dr Luis Ngimbi, Ambassadors Jobst von Kirchmann of the European Union and Stéphane Rey of Switzerland, IMF country representative Mr Carlos Caceres, and a representative of former farm owners Mr Andrew Pascoe, among others.
Economist Mr Persistence Gwanyanya said the side event on debt and arrears dialogue “is significant and most welcome”.
The AfDB has provided US$4,2 million to facilitate and support the structured dialogue process.
It is also financing technical and legal advisors to help develop a comprehensive roadmap for the debt resolution process.
Speaking at the 6th Structured Dialogue on November 25 in Harare last year, President Mnangagwa expressed support for the IMF programme and called for financial intervention to protect vulnerable groups.
“In this regard, the protection of the vulnerable groups, through effective social protection programmes is of critical importance to my Government,” he said.
President Mnangagwa said many reforms have been instituted by the Second Republic, including fiscal, governance, and legislative reforms aimed at improving macroeconomic stability and Government efficiency and accountability.
As part of the reforms, a new local currency, the Zimbabwe Gold (ZiG), was launched on April 5 last year and has been stable since then.
Recently, Government repealed the regulation of the exchange rate through Statutory Instrument 34 of 2025, allowing businesses to charge goods and services at an exchange rate of their choice.
Analysts said that was a demonstration of Government’s confidence in the ZiG.
Other reforms include the issuance of bankable title deeds to beneficiaries of the Land Reform Programme.
Dr Adesina described the IMF programme as “a significant milestone towards concretising the arrears clearance and debt resolution”.
“We have made more progress in two years than all the prior 21 years since the sanctions were imposed. The high-level structured dialogue is the only way, there is no other way.
“It is clearly time to bring this to a close, end the decades of untold damage to the economy of Zimbabwe, the suffering of its people, and have a new beginning with collective hope, aspiration and shared prosperity, for its people, today and well into the future,” he said.
On Thurday, AfDB governors will elect a successor to the bank’s president, Dr Adesina, whose second five-year term is ending.
There are five candidates, namely Dr Maimbo Munzele of Zambia, Ms Tshabalala Bajabulile Swazi of South Africa, Mr Hott Amadou of Senegal, Mr Tah Sidi Ould of Mauritania and Mr Tolli Abbas Mahamat of Chad.
The AfDB will also unveil its Annual Development Effectiveness Review and its African Economic Outlook 2025 during the meetings.
This flagship annual report provides policymakers, academics, and other stakeholders with comprehensive analysis and forecasts of African countries’ economic performance.
As part of preparations for the AfDB meetings, journalists were yesterday taken on a tour of infrastructure development projects funded by the AfDB in Côte d’Ivoire, including Abidjan’s fourth bridge, and the “Y4” bypass.
The roadworks were done to ease traffic congestion in Côte d’Ivoire’s capital of six million people, known for being among the most gridlocked cities in Africa.
The bridges were built as part of the Abidjan Urban Transport Project (PTUA), which is, in turn, a component of the Master Plan for the Urban Transportation of Greater Abidjan.
-Zimpapers
