On October 4, 2026, Angolan President João Lourenço, also the President of the MPLA and the African Union's Committee of Heads of State and Government of AUDA-NEPAD, addressed a summit of the African Union Development Agency (AUDA-NEPAD) in Egypt. He emphasized the need for more resources to enable Africa to shape its own future amid a complex and unpredictable international context. Lourenço highlighted the importance of a strong and well-funded AUDA-NEPAD for the continent's development.
The summit, which took place over the weekend, brought together leaders to discuss the agency's performance and the 8th Semestral Coordination Summit between the African Union and regional economic communities and mechanisms. As president of the AUDA-NEPAD Committee of Heads of State and Government, Lourenço presented a report on the agency's performance, stressing that financing from member states is crucial for the agency's sustainability and the broader African Union system.
Lourenço pointed out that the current international context has become increasingly complex, with rising geopolitical competition, economic shocks, and pressure on development financing. He argued that Africa cannot achieve its development ambitions while remaining heavily dependent on external financing. Instead, the continent must mobilize its own public, private, and institutional capital to prioritize continental development goals.
The Angolan president highlighted the African Continental Free Trade Area as a historic opportunity, creating a market of approximately 1.4 billion people, with a predicted 52% growth in intra-African trade by 2035. He also cited several achievements, including the harmonization of procedures on the Abidjan-Lagos corridor, the operationalization of the Kenya-Tanzania energy interconnection, and the completion of the Angola-DRC interconnection feasibility study.
Lourenço also mentioned the expansion of the Single-Stop Border Post model and the evaluation of over 50 regional ICT infrastructure projects for financial viability. The Luanda Summit on Financing for Infrastructure Development in Africa raised $43.9 billion for regional infrastructure projects in transportation, energy, water, and digital infrastructure. The Infrastructure Guarantee Platform aims to reach $10 billion by 2030.
Through African capitals, $54 billion has been mobilized for the Pension Fund, and the Africa Team initiative has consolidated a coordinated portfolio of investments with over 300 regional projects valued at approximately $500 billion. The Competencies for Africa initiative, valued at over €100 million, is implementing 48 projects in eight countries, focusing on education, health, youth, and women's empowerment.
The African Union's efforts aim to promote continental development and self-determination. The AUDA-NEPAD agency plays a crucial role in driving these initiatives, and its strengthening is seen as essential for achieving Africa's development goals. President Lourenço's call for more resources reflects the need for increased investment in the continent's development and infrastructure.
Key points
- Angola's President João Lourenço urges more funding for AUDA-NEPAD.
- Africa needs to mobilize its own capital for development.
- The African Continental Free Trade Area is expected to grow intra-African trade by 52% by 2035.
