Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. Analysts have cautioned that limited fiscal space and persistent governance challenges could undermine the sustainability of Africa’s development financing model, even as the African Development Bank Group (AfDB) secures a record $11 billion replenishment for its concessional arm.
The fundraising—the largest in the history of the African Development Fund (ADF)—represents a 23 per cent increase from the previous cycle and comes at a time when donor governments in Europe and North America are cutting foreign aid amid mounting domestic fiscal pressures.
