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**By Daniel Djagoué, special envoy to Luanda**
The sixth edition of the Africa Financial Summit (AFIS) opened this Tuesday, November 3, 2026, in Luanda, Angola, with the presence of over 1,500 financial leaders, investors, regulators, and public decision-makers. For two days, key players in continental finance are called to reflect on mechanisms to transform the growing strength of African financial institutions into productive investments, economic growth, and job creation.
Organized by Jeune Afrique Media Group, in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, the summit is being held for the first time in Southern Africa and in a Portuguese-speaking country.
Under the theme “Making Capital Count: Accelerating Growth through African Finance,” this edition brings together 18 central bank governors and eight finance ministers, alongside leaders from major banks, insurance companies, development finance institutions, and stock exchanges on the continent.
At the heart of the discussions is a major question: how can the rise of the African financial sector translate more into financing for businesses, infrastructure, and the economic transformation of the continent?
**A profitable banking industry, but still insufficiently focused on the real economy**
AFIS 2026 takes place in a context marked by the strengthening of the African banking sector’s performance. According to data presented by the organizers, the continent’s banking revenues rose from approximately $83 billion in 2020 to over $100 billion in 2025. At the same time, return on equity reached 19%, nearly double the global average.
However, this momentum masks a structural weakness: loans still account for only about 30% of African banking assets. This situation illustrates the persistent difficulties of the financial system in adequately funding productive sectors, particularly agriculture, industry, housing, and infrastructure.
The challenge thus goes beyond merely mobilizing resources. It now concerns their allocation towards investments capable of sustainably supporting growth.
For Amir Ben Yahmed, CEO of Jeune Afrique Media Group and founder of AFIS, a paradigm shift has become essential.
“Over the past two decades, African finance has significantly strengthened. But the challenge is no longer just to build stronger financial institutions: it is to enable them to have a greater impact on the continent’s growth,” he stated.
This ambition notably requires increased mobilization of institutional savings, particularly from pension funds and insurance companies, as well as the development of risk-sharing mechanisms between public and private actors.
**Makhtar Diop and Sidi Ould Tah advocate for increased mobilization of African capital**
The opening ceremony featured remarks from several prominent figures, including Makhtar Diop, CEO of the International Finance Corporation (IFC), and Sidi Ould Tah, President of the African Development Bank (AfDB).
Makhtar Diop emphasized the need to better connect the continent’s financial resources to the needs of its economies. According to the IFC leader, Africa has the capital, entrepreneurs, and skills necessary for its development, but must still strengthen the mechanisms to transform these assets into productive investments.
“Africa has capital. It has entrepreneurs. It possesses extraordinary talents. Our mission is to connect these assets through financial systems capable of meeting the continent’s ambitions,” he declared.
Following him, Sidi Ould Tah highlighted the necessity of strengthening coordination among national, regional, and continental financial institutions within the framework of the New African Financial Architecture for Development.
This ambition addresses a major challenge: closing an annual development financing gap estimated at $400 billion. To achieve this, several levers have been put forward, including strengthening guarantee mechanisms, developing risk-sharing instruments, and promoting financing in local currencies.
The goal is to make more African projects bankable, mobilize private investments, and enable the continent’s financial institutions to play a more decisive role in the structural transformation of economies.
**Financial integration: the African paradox**
Another highlight of this opening day was the presentation of the first results from the sixth edition of the Deloitte-AFIS African Financial Industry Barometer, which highlights a contrast between the confidence of financial players and the slow pace of continental integration.
The overall level of confidence among the surveyed institutions remains high, at 8 out of 10. However, 69% of respondents believe that the implementation of the African Continental Free Trade Area (AfCFTA) is progressing too slowly.
Even more revealing, only 11% of the surveyed institutions report being connected to the Pan-African Payment and Settlement System (PAPSS), which is considered a strategic tool for facilitating intra-African transactions.
These results shed light on the obstacles that continue to limit the flow of capital and the emergence of a truly integrated financial market.
Discussions scheduled for Wednesday, November 4, particularly during a panel featuring several central bank governors, are expected to delve deeper into issues related to monetary policies, regulatory harmonization, and the interoperability of payment systems.
Beyond declarations of intent, AFIS 2026 aims to contribute to the emergence of operational solutions to bring African financial markets closer together and strengthen their contribution to development.
In Luanda, the message conveyed by the organizers is clear: the next stage of African financial transformation will no longer be measured solely by the profitability of banks or the size of their balance sheets, but by their ability to finance economies, support businesses, and create jobs.
