African Development Bank Annual Meeting: Using Strategic Foresight to Envision a Sustainable Financial Architecture
At the African Development Bank (AfDB) Annual Meeting in Nairobi on 30 May 2024, the UN Futures Lab/Global Hub, in partnership with Canada’s International Development Research Centre (IDRC) and the Institute of Economic Affairs Kenya (IEA-Kenya), facilitated a side-event to explore how strategic foresight can reshape the global financial architecture for greater inclusivity and equity.
The event featured a panel of experts who emphasized the importance of aligning Africa’s development strategies with global narratives. This was followed by a participatory foresight exercise, which engaged participants in envisioning a sustainable financial architecture, identifying key trends, dilemmas, and systemic issues to transition from the current state to a desired future. Key highlights from the event include:
- Foresight-driven pathways: Identified actionable strategies for integrating foresight into policymaking to promote long-term equity and sustainability in the global financial system.
- Inclusive financial systems: Highlighted the importance of creating financial frameworks that incorporate diverse African perspectives and empower marginalized groups.
- Scalable models: Showcased transformative African foresight initiatives, such as Agenda 2063, as replicable examples for global financial reform efforts.
- Empowered dialogue: Engaged experts and stakeholders in envisioning sustainable financial architectures and addressing systemic challenges to advance a more equitable global financial system.
Why it matters
This event amplified Africa’s voice in shaping the future of global finance, highlighting the potential of strategic foresight to empower policymakers, foster inclusivity, and address systemic inequities. By connecting African perspectives to global financial reform efforts, the dialogue contributed actionable insights for a fair and sustainable economic future.
