Africa50 and Stanbic Bank Tanzania urged the continent to scale domestic financial institutions and deepen capital markets during a forum in Dar es Salaam, emphasizing collaboration to meet infrastructure needs. The call came as officials highlighted the urgency of reducing reliance on external funding and expanding local investment opportunities.
At the Africa50 Annual General Shareholders Meeting and Africa Infrastructure Forum in Dar es Salaam, Stanbic Bank Tanzania Chief Executive Officer Manzi Rwegasira stressed that Africa’s infrastructure challenges require scaling existing financial systems rather than relying solely on institutions like the African Development Bank. It boils down to scale. We need to think about how we can scale up what we already have on this continent,
he said, citing the need to deepen domestic bond markets and strengthen regional cooperation .
Call for Scaling Domestic Financial Institutions
Rwegasira argued that Africa’s current financial institutions, while adequate, lack the necessary scale to address the continent’s infrastructure gap. He specifically called for improving the depth of national bond markets, which he described as too shallow and too small.
We need to make them bigger,
he said, emphasizing the role of commercial banks, development finance institutions, and private investors in pooling resources for large-scale projects. His remarks echoed a broader push by Africa50 to mobilize local capital .
The Africa50 forum also highlighted the importance of innovative financing models, such as infrastructure asset recycling and securitisation, to unlock capital from existing assets. Stanbic Bank Tanzania Head of Corporate and Investment Banking Ester Manase underscored the need for collaboration among stakeholders, stating, The biggest takeaway for me is collaboration. Every stakeholder has an important role to play, but none of us can achieve these ambitions alone.
She pointed to Tanzania’s potential as an East African logistics hub, citing its strategic location as a key asset .
Collaboration and Regional Integration
Africa50 Chief Executive Officer Alain Ebobissé, moderating a panel discussion titled Champions of Change: Conceived by Africans, Led by Africans,
emphasized the need for African-led financing solutions. Panelists agreed that the continent’s infrastructure deficit stems not only from limited financial resources but also from a lack of bankable projects, high perceived investment risks, and underdeveloped capital markets. They called for improved project preparation, regulatory frameworks, and investor confidence to attract both domestic and international capital .
The discussion revealed a consensus on the importance of regional cooperation. Participants noted that harmonized investment policies and stronger ties among commercial banks, pension funds, and development finance institutions could reduce risks and boost private sector participation. Expanding domestic investment would enable African countries to make better use of their savings and financial resources to fund critical infrastructure,
one speaker said, adding that this approach could stimulate growth and create jobs across productive sectors .
What Comes Next: Scaling Up and Measuring Impact
Meanwhile, Stanbic Bank Tanzania’s focus on domestic bond markets aligns with broader regional goals to reduce reliance on external financing. As Manzi Rwegasira noted, We need to make better use of our national domestic bond markets.
They’re still too shallow and too small.
We need to make them bigger.
For now, the emphasis remains on collaboration, scale, and the urgent need to bridge Africa’s infrastructure gap through homegrown solutions .
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