2024 update:

The African Development Bank (AfDB) partnered with the HRI initiative to develop the HRI Roadmap for Africa, a collaborative framework to mobilize investments in Africa’s frontier markets. It seeks to address the persistent challenges of underinvestment and vulnerability in fragile regions by fostering partnerships between local ecosystem in support of investment opportunities in these markets.

Between 2025 and 2026 the AfDB and HRI Initiative teams will focus on establishing the internal coordination mechanisms to launch up to five Country Alliances and refine the approach based on lessons learned. Between 2027 and 2030 the refined Roadmap will be implemented through up to ten Country Alliances.

Commitment

The Bank, leveraging its deep understanding of the African continent, will work with WEF and other partners to conduct a study that provides a roadmap to advance the HRI initiative in Africa.

The study aims to define the HRI's frontier market definition more concretely in the context of Africa and recommending priority frontier markets and sectors based on objective criteria and match these with stakeholder interests and areas of focus. It will also focus on establishing mechanisms to track progress on the Call to Action. This includes defining key impact or outcome indicators to track actions from partners, determining the logistical aspects of this tracking, and establishing the frequency at which progress will be monitored. Additionally, the study will identify milestones and outputs to effectively communicate this progress and capture success stories, thereby contributing to the broader ecosystem's understanding of the initiative's impact.

A significant aspect of the study involves defining an approach to bring partners together across the investment continuum in selected markets. This is essential for unlocking investment opportunities both in the short and long term.

In summary, the objective of this study is to provide a strategic roadmap for advancing the HRI initiative in Africa and to harness the collaborative efforts of the AfDB and WEF. The study’s outcomes will play a crucial role in shaping the implementation plan for HRI initiatives in Africa, identifying priority markets, tracking progress, and fostering collaborative investment opportunities, ultimately contributing to the welfare and resilience of vulnerable communities across the continent.

Partners: World Economic Forum