African Ministers Urged to Unlock Domestic Revenue for Economic Growth

African finance ministers have been urged to intensify efforts to unlock hundreds of billions of dollars in domestic revenue, as the continent seeks sustainable pathways to finance its development agenda.

The call was made by the African Development Bank Group just days after releasing its 2026 macroeconomic outlook. Speaking at a high-level ministerial meeting during the 58th session of the Conference of African Ministers of Finance, Planning and Economic Development (COM58), the Bank’s Chief Economist and Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Chika Urama, underscored the importance of domestic resource mobilisation in driving Africa’s growth.

Prof. Urama described domestic resource mobilisation as a cornerstone for strengthening economic resilience, enhancing sovereignty, and ensuring the delivery of essential public services and infrastructure across the continent.

The meeting, held under the theme “Mobilising Domestic Resources: A Key Lever for Africa’s Development,” was hosted by Nadia Fettah, Morocco’s Minister of Economy and Finance. It formed part of COM58, an annual gathering convened by the United Nations Economic Commission for Africa that brings together policymakers and development partners to address Africa’s economic priorities.

During his presentation, Prof. Urama outlined five key pillars necessary to strengthen domestic resource mobilisation. These include improving tax policy and administration, simplifying tax systems, and diversifying revenue sources to broaden the tax base.

He noted that domestic resource mobilisation has remained central to the Bank’s support for economic governance over the past decade. Currently, the institution is implementing 31 active programmes across 22 Regional Member Countries aimed at enhancing revenue collection efficiency, expanding the tax base, strengthening fiscal regimes, and curbing illicit financial flows.

Prof. Urama also highlighted several flagship initiatives led by the Bank to support African countries, including the Debt Management Forum for Africa (DeMFA) and the African Debt Managers Initiative Network (ADMIN), which focus on improving debt transparency and management.

In his closing remarks, he presented a range of short-, medium-, and long-term policy recommendations to help governments strengthen domestic resource mobilisation and position it as a key driver of national development.

The Bank’s Ten-Year Strategy (2024–2033), alongside its “Four Cardinal Points,” places domestic resource mobilisation at the centre of efforts to finance Africa’s structural transformation, signalling a shift toward greater reliance on homegrown solutions to meet the continent’s development needs.