Mauritania is seeking to deepen its development partnership with the African Development Bank as it advances reforms aimed at boosting investment, strengthening capital markets and accelerating economic growth.
The discussions took place on Sunday, May 24 in Brazzaville on the sidelines of the African Development Bank’s annual meetings, where African finance leaders gathered to address widening development financing gaps across the continent.
Mauritania’s Minister of Economic Affairs and Development, Abdallahi Souleymane Sheikh Sidiya, held talks with Sidi Ould Tah on ways to enhance cooperation and scale up support for national development priorities.
The minister reviewed ongoing projects financed by the African Development Bank valued at approximately US$645.9 million, noting the institution’s continued role in supporting infrastructure, economic diversification and public investment programmes.
He also called for increased financing for the private sector, arguing that greater access to capital is essential for job creation and for helping local businesses expand and compete more effectively.
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The meeting comes as Mauritania seeks to position itself more strongly within regional and international financial markets through a series of structural reforms.
These reforms include the establishment of the Nouakchott Stock Exchange, the creation of a financial markets regulatory authority, and updates to the country’s public procurement framework aimed at improving transparency and efficiency in government contracting.
Officials say these measures are designed to strengthen investor confidence, improve access to long-term financing and create a more enabling environment for private sector growth.
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African Development Bank has been a key development partner for Mauritania, supporting projects in infrastructure, energy, agriculture and governance over the past several years.
During the talks, the AfDB president welcomed the reforms undertaken by Mauritania and reaffirmed the Bank’s commitment to supporting priority development projects and expanding cooperation with member states.
He stressed the importance of mobilising both public and private capital to address Africa’s estimated multi-billion-dollar annual development financing gap, a central theme of the current AfDB annual meetings.
Analysts say Mauritania’s push reflects a broader trend among African economies seeking to reduce dependence on external aid and concessional financing by developing domestic capital markets and attracting private investment.
However, challenges remain, particularly in ensuring that new financial institutions are sufficiently deep and liquid to support large-scale investment and that regulatory frameworks are robust enough to maintain investor confidence.
For Mauritania, the success of its reform agenda will depend on how effectively it can translate institutional changes into real economic activity, job creation and sustained private sector expansion.
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The strengthened partnership with the AfDB is expected to play a central role in bridging financing gaps and supporting the country’s long-term development ambitions.
