During the 39th African Union Summit in Addis Ababa, Dr. Sidi Ould Tah, the newly appointed President of the African Development Bank Group, made his first official address to the Assembly of Heads of State and Government. He outlined the importance of the New African Financial Architecture (NAFA) as a strategic tool for mobilizing resources and establishing a new foundation for Africa's financial sovereignty. Dr. Ould Tah emphasized that the continent has the ambition and plans laid out in Agenda 2063, and he suggested that the existing challenge is not the scarcity of resources but rather the inadequate systems for managing these resources.

In his action-oriented speech, Dr. Ould Tah argued that NAFA could transform the way Africa handles its financial resources, enabling greater investment in infrastructure, energy, and trade agreements. By leveraging NAFA, he believes African nations can work towards financial autonomy rather than relying heavily on external aid. He called for collaboration among African governments to create an environment conducive to resource mobilization and to effectively tackle the challenges posed by global financial systems that often overlook the specific needs of African countries.

Dr. Ould Tah's emphasis on African sovereignty through financial independence is a significant message for the continent, particularly in light of ongoing discussions regarding Africa's role in the global economy. His speech sets the stage for a renewed focus on intra-African trade and partnerships, which are essential for sustainable development. As Africa seeks to transform its economies and enhance its global presence, NAFA could be pivotal in fostering a new era of financial resilience and empowerment for African nations.